Sanmina Corporation Q1 Profit Increases, Beats Estimates

Sanmina-SCI

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(RTTNews) - Sanmina Corporation (SANM) reported a profit for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $65.00 million, or $1.16 per share. This compares with $57.07 million, or $0.98 per share, last year.

Excluding items, Sanmina Corporation reported adjusted earnings of $80.17 million or $1.44 per share for the period.

Analysts on average had expected the company to earn $1.37 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 7.0% to $2.006 billion from $1.874 billion last year.

Sanmina Corporation earnings at a glance (GAAP) :

-Earnings: $65.00 Mln. vs. $57.07 Mln. last year. -EPS: $1.16 vs. $0.98 last year. -Revenue: $2.006 Bln vs. $1.874 Bln last year.

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