Sanmina shares fall on earnings miss, outlook

Sanmina Corp. shares declined in the extended session Monday after the electronics manufacturing services provider’s quarterly results and earnings outlook fell short of Wall Street estimates. Sanmina shares fell 7% to $36.10 after hours. The company reported fiscal fourth-quarter net income of $25.8 million, or 33 cents a share, compared with $100.8 million, or $1.30 a share, in the year-ago period. Adjusted earnings were 64 cents a share. Revenue rose to $1.76 billion from $1.67 billion in the year-ago period. Analysts surveyed by FactSet had estimated 76 cents a share on revenue of $1.75 billion. For the fiscal first quarter, Sanmina estimates earnings of 68 cents to 72 cents a share on revenue of $1.75 billion to $1.8 billion. Analysts had forecast earnings of 78 cents a share on revenue of $1.76 billion.

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