Sanmina (SANM) Reports In-Line Q1 EPS; Issues Solid Q2 Outlook

Sanmina (NASDAQ: SANM) reported Q1 EPS of $0.58, in-line with the analyst estimate of $0.58. Revenue for the quarter came in at $1.53 billion versus the consensus estimate of $1.59 billion.

GUIDANCE:

Sanmina sees Q2 2016 EPS of $0.55-$0.59, versus the consensus of $0.52. Sanmina sees Q2 2016 revenue of $1.55-1.65 billion, versus the consensus of $1.56 billion.

"We delivered solid margin improvement, EPS expansion and cash generation on a sequential basis, despite softer than expected revenue," stated Jure Sola, Chairman and Chief Executive Officer of Sanmina Corporation. "As we look to the second quarter, demand is stable with growth driven by new programs. We remain optimistic that fiscal 2016 will be a growth year," concluded Sola.

For earnings history and earnings-related data on Sanmina (SANM) click here.

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