Sanmina Shares Drop After Slightly Weak Outlook

By 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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