Sanmina Corp. stock pushed higher by 7% in late trading Monday after the contract tech manufacturer showed off higher profits than expected. Sanmina’s earnings report showed profit of $30.36 million, or 39 cents a share, on sales of $1.61 billion; after adjustments for stock-based compensation and other factors, the company said it earned 63 cents per share. Analysts on average expected adjusted earnings of 56 cents a share on sales of $1.59 billion, according to FactSet, and Sanmina had predicted adjusted profit in a range of 55 cents to 59 cents a share. Sanmina Chief Executive Jure Sola noted that Sanmina had its highest earnings per share in more than a decade thanks to growth across market segments. “As we further diversify our business, we remain confident our financial results will continue to improve,” Sola said in Monday’s announcement.
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