Sanmina Corporation Q1 Profit Increases, beats estimates

(RTTNews) - Sanmina Corporation (SANM) released earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $58.63 million, or $0.89 per share. This compares with $48.02 million, or $0.72 per share, in last year's first quarter.

Excluding items, Sanmina Corporation reported adjusted earnings of $71.27 million or $1.08 per share for the period.

Analysts on average had expected the company to earn $0.95 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Revenue came in at $1.76 billion, equal to the mark posted in the same period last year.

Sanmina Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $58.63 Mln. vs. $48.02 Mln. last year. -EPS (Q1): $0.89 vs. $0.72 last year. -Analyst Estimate: $0.95 -Revenue (Q1): $1.76 Bln vs. $1.76 Bln last year.

-Guidance: Next quarter EPS guidance: $0.95 - $1.05 Next quarter revenue guidance: $1.7 - $1.8 Bln