Sanmina Corporation Q2 Profit Decreases, but beats estimates

(RTTNews) - Sanmina Corporation (SANM) revealed earnings for second quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $52.5 million, or $0.93 per share. This compares with $79.7 million, or $1.33 per share, in last year's second quarter.

Excluding items, Sanmina Corporation reported adjusted earnings of $73.9 million or $1.30 per share for the period.

Analysts on average had expected the company to earn $1.2 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 21.1% to $1.83 billion from $2.32 billion last year.

Sanmina Corporation earnings at a glance (GAAP) :

-Earnings (Q2): $52.5 Mln. vs. $79.7 Mln. last year. -EPS (Q2): $0.93 vs. $1.33 last year. -Revenue (Q2): $1.83 Bln vs. $2.32 Bln last year.

-Guidance: Next quarter EPS guidance: $0.95-$1.05 Next quarter revenue guidance: $1.8-$1.9 Billion