Sanmina shares fall on earnings miss, outlook

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Sanmina Corp.












SANM, -0.64%










shares declined in the extended session Monday after the electronics manufacturing services provider’s quarterly results and earnings outlook fell short of Wall Street estimates. Sanmina shares fell 7% to $36.10 after hours. The company reported fiscal fourth-quarter net income of $25.8 million, or 33 cents a share, compared with $100.8 million, or $1.30 a share, in the year-ago period. Adjusted earnings were 64 cents a share. Revenue rose to $1.76 billion from $1.67 billion in the year-ago period. Analysts surveyed by FactSet had estimated 76 cents a share on revenue of $1.75 billion. For the fiscal first quarter, Sanmina estimates earnings of 68 cents to 72 cents a share on revenue of $1.75 billion to $1.8 billion. Analysts had forecast earnings of 78 cents a share on revenue of $1.76 billion.

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