Sanmina Posts Higher Q2 Earnings

(RTTNews) - Sanmina Corporation (SANM) Monday reported improved results for its fiscal second quarter ended March 29, with net income rising to $64.21 million, up 22 percent from $52.49 million in the prior-year period. Earnings per share rose to $1.16 from $0.93 a year ago, supported by stronger revenue growth and operating margin expansion.

Net sales increased 8 percent to $1.98 billion from $1.83 billion in the year-ago quarter.

Looking ahead, for the third fiscal quarter ending June 28, Sanmina expects revenue between $1.925 billion and $2.025 billion. The company projects per share in the range of $1.05 to $1.15, and adjusted earnings per share between $1.35 and $1.45.

Shares of Sanmina closed Monday's trading at $80.73 down 1.84 percent or $1.51 on the Nasdaq.