Sanmina Corporation Q3 Profit Decreases, Misses Estimates

(RTTNews) - Sanmina Corporation (SANM) reported earnings for third quarter that decreased from last year and missed the Street estimates.

The company's earnings totaled $51.602 million, or $0.91 per share. This compares with $76.494 million, or $1.28 per share, in last year's third quarter.

Excluding items, Sanmina Corporation reported adjusted earnings of $70.828 million or $1.25 per share for the period.

Analysts on average had expected the company to earn $1.28 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 16.6% to $1.841 billion from $2.207 billion last year.

Sanmina Corporation earnings at a glance (GAAP) :

-Earnings (Q3): $51.602 Mln. vs. $76.494 Mln. last year. -EPS (Q3): $0.91 vs. $1.28 last year. -Revenue (Q3): $1.841 Bln vs. $2.207 Bln last year.

-Guidance: Next quarter EPS guidance: $1.30 to $1.40 Next quarter revenue guidance: $1.9 - $2.0 Bln