Sanmina Corporation Q2 Profit Increases, beats estimates

(RTTNews) - 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