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Sanmina stock slips as earnings beat Street but revenue doesn't

Sanmina Corp. (SANM) shares declined in the extended session Monday after the electronics-manufacturing services provider's earnings topped Wall Street estimates but its revenue didn't. Samina shares fell 3% after hours, following a 0.7% rise in the regular session to close at $41.12. The company reported fiscal second-quarter net income of $47 million, or 70 cents a share, compared with $4.9 million, or 7 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were $1.01 a share, compared with 32 cents a share in the year-ago period. Revenue rose to $1.7 billion from $1.59 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast 83 cents a share on revenue of $1.71 billion. Sanmina forecast adjusted third-quarter earnings of 84 cents to 94 cents a share on revenue of $1.68 billion to $1.78 billion. Analysts had estimated 84 cents a share on revenue of $1.73 billion.

-Wallace Witkowski; 415-439-6400;


(END) Dow Jones Newswires

05-03-21 1740ET

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