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Sanmina Corporation Q2 Profit Increases, beats estimates

Sanmina Corporation (SANM) revealed earnings for its second quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $53.22 million, or $0.83 per share. This compares with $47.04 million, or $0.70 per share, in last year's second quarter.

Excluding items, Sanmina Corporation reported adjusted earnings of $73.17 million or $1.14 per share for the period.

Analysts on average had expected the company to earn $1.01 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.4% to $1.91 billion from $1.70 billion last year.

Sanmina Corporation earnings at a glance (GAAP) :

-Earnings (Q2): $53.22 Mln. vs. $47.04 Mln. last year.
-EPS (Q2): $0.83 vs. $0.70 last year.
-Analyst Estimate: $1.01
-Revenue (Q2): $1.91 Bln vs. $1.70 Bln last year.

-Guidance:
Next quarter EPS guidance: $1.05 - $1.15
Next quarter revenue guidance: $1.825 - $1.925 Bln

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