November 1, 2010 / 8:55 PM / 8 years ago

UPDATE 1-Sanmina-SCI Q4 tops Street, sees Q1 rev below estimates

* Q4 adj EPS $0.46 vs est $0.38

* Q4 revenue $1.69 bln vs est $1.68 bln

* Sees Q1 adj EPS $0.40-$0.44 vs est $0.43

* Sees Q1 revenue $1.63-$1.68 bln

* Shares down 3 pct after the bell

Nov 1 (Reuters) - Electronics manufacturing services provider Sanmina-SCI Corp (SANM.O) posted better-than-expected quarterly results, helped by lower operating expenses, but forecast first-quarter revenue below Wall Street estimates, sending its shares down 3 percent.

The company, which provides services mainly to original equipment manufacturers across various industries, expects earnings of 40-44 cents per share, excluding items, on revenue of $1.63-$1.68 billion, for the first quarter.

Analysts are looking at a profit of 43 cents a share on revenue of $1.71 billion, according to Thomson Reuters I/B/E/S.

For the fourth-quarter ended Oct. 2, the company earned $31.4 million, or 38 cents per share, compared with a loss of $32.7 million, or $42 cents per share, a year ago. Excluding items, the company earned 46 cents a share.

Revenue at Sanmina, which competes with Celestica Inc (CLS.TO), Flextronics International Ltd (FLEX.O) and Jabil Circuit (JBL.N), rose 25 percent to $1.69 billion.

Analysts were expecting earnings of 38 cents a share, before items, on revenue of $1.68 billion.

Operating expenses fell 15 percent to $73.6 million.

Shares of the San Jose, California-based company were down 4 percent at $12.50 in extended trade. Shares of the company have more than doubled over the year. (Reporting by Siddharth Cavale in Bangalore; Editing by Vinu Pilakkott)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below