Sanmina Corporation Q2 adjusted earnings Miss Estimates

(RTTNews) - 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