Sanmina Shares Drop After Slightly Weak Outlook

By Wallace Witkowski Markets MarketWatch Pulse

Sanmina Corp. shares fell in the extended session Monday after the electronics manufacturing services provider's earnings were in-line but their outlook range slanted to the downside of Wall Street estimates. Sanmina shares dropped 12% to $25.61 after hours. The company expects adjusted fiscal fourth-quarter earnings of 64 cents to 68 cents on revenue of $1.68 billion to $1.73 billion. Analysts surveyed by FactSet estimate 67 cents a share on revenue of $1.72 billion. For the fiscal third quarter, Sanmina reported adjusted earnings of 63 cents a share on revenue of $1.67 billion, while analysts were looking for 63 cents a share on revenue of $1.66 billion.

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