Sanmina Profit Tops Estimates, Q4 Outlook Strong; Stock Up 9%

(RTTNews) - Contract electronics manufacturer Sanmina Corp. (SANM) on Monday reported third-quarter net earnings of $24.5 million or $0.29 per share compared with $20.7 million or $0.24 per share last year.

Results were driven by lower interest and other expenses as well as reduced income tax provision.

Excluding items, adjusted earnings for the latest quarter were $0.53 per share.

Revenues for the quarter were lower at $1.54 billion compared with $1.60 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.49 per share on revenues of $1.52 billion for the quarter. Analysts' estimates typically exclude special items.

For the fourth quarter, the company expects adjusted earnings of $0.52 to $0.58 per share on revenues of $1.55 billion to $1.65 billion. Analysts expect earnings of $0.53 per share on revenues of $1.56 billion.