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Sanmina Corporation Q2 adjusted earnings Miss Estimates

Sanmina Corporation (SANM) revealed earnings for second quarter that decreased from last year.

The company's profit came in at $4.88 million, or $0.07 per share. This compares with $40.89 million, or $0.57 per share, in last year's second quarter.

Excluding items, Sanmina Corporation reported adjusted earnings of $22.78 million or $0.32 per share for the period.

Analysts had expected the company to earn $0.55 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 25.4% to $1.59 billion from $2.13 billion last year.

Sanmina Corporation earnings at a glance:

-Earnings (Q2): $22.78 Mln. vs. $65.05 Mln. last year.
-EPS (Q2): $0.32 vs. $0.91 last year.
-Analysts Estimate: $0.55
-Revenue (Q2): $1.59 Bln vs. $2.13 Bln last year.

-Guidance:
Next quarter EPS guidance: $0.30 to $0.40
Next quarter revenue guidance: $1.50 - $1.60 Bln

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