Sanmina Corporation Q3 Profit Decreases, but beats estimates

(RTTNews) - Sanmina Corporation (SANM) announced a profit for third quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $79.54 million, or $1.29 per share. This compares with $117.38 million, or $1.74 per share, in last year's third quarter.

Excluding items, Sanmina Corporation reported adjusted earnings of $80.35 million or $1.30 per share for the period.

Analysts on average had expected the company to earn $1.11 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 21.7% to $2.02 billion from $1.66 billion last year.

Sanmina Corporation earnings at a glance (GAAP) :

-Earnings (Q3): $79.54 Mln. vs. $117.38 Mln. last year. -EPS (Q3): $1.29 vs. $1.74 last year. -Analyst Estimates: $1.11 -Revenue (Q3): $2.02 Bln vs. $1.66 Bln last year.

-Guidance: Next quarter EPS guidance: $1.27 to $1.37 Next quarter revenue guidance: $1.95 - $2.05 Bln