Sanmina Corporation Q1 Profit Increases, beats estimates

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

The company's earnings came in at $88.40 million, or $1.48 per share. This compares with $58.63 million, or $0.89 per share, in last year's first quarter.

Excluding items, Sanmina Corporation reported adjusted earnings of $98.38 million or $1.64 per share for the period.

Analysts on average had expected the company to earn $1.45 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 34.1% to $2.36 billion from $1.76 billion last year.

Sanmina Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $88.40 Mln. vs. $58.63 Mln. last year. -EPS (Q1): $1.48 vs. $0.89 last year. -Analyst Estimate: $1.45 -Revenue (Q1): $2.36 Bln vs. $1.76 Bln last year.

-Guidance: Next quarter EPS guidance: $1.50 - $1.60 Next quarter revenue guidance: $2.2 - $2.3 Bln