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Stock impact report

Sanmina stock declines on earnings miss, outlook [MarketWatch]

Sanmina Corporation (SANM) 
Last sanmina corporation earnings: 4/27 04:02 pm Check Earnings Report
Company Research Source: MarketWatch
Sanmina Corp. shares fell in the extended session Monday after the electronics manufacturing services provider's quarterly results and outlook fell short of Wall Street estimates. Sanmina shares fell 6.8% after hours, following a 4.5% rise in the regular session to close at $27.91. The company reported fiscal second-quarter net income of $4.9 million, or 7 cents a share, compared with $40.9 million, or 57 cents a share, in the year-ago period. Adjusted earnings were 32 cents a share, compared with 91 cents a share in the year-ago period. Revenue fell to $1.59 billion from $2.13 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 55 cents a share on revenue of $1.62 billion. Sanmina expects adjusted earnings of 30 cents to 40 cents a share on revenue of $1.5 billion to $1.6 billion, while analysts had forecast earnings of 53 cents a share on revenue of $1.54 billion. In a statement, Sanmina said its outlook depended on "the ongoing impacts of the COVI Show less Read more
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