Sanmina jumps aftermarket as 3rd-quarter results and 4th-quarter guidance exceed estimates

StocksAssociated Press

Shares of Sanmina climbed in aftermarket trading Monday as Wall Street cheered the electronics manufacturing services company's third-quarter results and its outlook for the current quarter.

Sanmina Corp. stock rose $2.22, or 11.7 percent, to $21.25 in aftermarket trading.

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The company said its net income rose 18 percent to $24.5 million, or 29 cents per share. Excluding one-time items the company said its profit totaled 53 cents per share. Sanmina said its revenue fell 4 percent to $1.54 billion over the three months that ended on June 27.

According to FactSet, analysts were expecting net income of 49 cents per share and $1.52 billion in revenue on average.

The San Jose, California-based company forecast an adjusted profit of 52 cents to 58 cents per share on $1.55 billion to $1.65 billion for the fiscal fourth quarter, which ends in September.

Analysts were expecting net income of 53 cents per share and $1.56 billion in revenue.

Sanmina's shares have fallen 19 percent in 2015 and closed at $19.03 on Monday.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SANM at http://www.zacks.com/ap/SANM

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Keywords: Sanmina, Earnings Report