Ralph
17.01.2001, 22:30
Sanmina Corp. Q1 net income tops expectations
SAN JOSE, Jan 17 (Reuters) - Electronics components maker Sanmina Corp. (NasdaqNM:SANM - news) on Wednesday said fiscal first-quarter net income rose 158 percent from the same period last year, on revenues that spiked 82 percent.
For the quarter ended Dec. 30, 2000, Sanmina posted earnings of $110.7 million, or 34 cents a diluted share, compared with 15 cents last year. Earnings for the year-ago quarter were restated to reflect a two-for-one stock split effective Jan. 8, 2000.
The latest first quarter figures beat the consensus analyst estimate of 32 cents, according to market research firm First Call/Thomson Financial.
Shares of Sanmina closed up $2-3/8, or 5.9 percent, to $42-3/8, on the Nasdaq stock market. The stock had risen sharply through the first three quarters of 2000, hitting a high of $60-1/2 in September, before retreating to current levels.
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Ralph
SAN JOSE, Jan 17 (Reuters) - Electronics components maker Sanmina Corp. (NasdaqNM:SANM - news) on Wednesday said fiscal first-quarter net income rose 158 percent from the same period last year, on revenues that spiked 82 percent.
For the quarter ended Dec. 30, 2000, Sanmina posted earnings of $110.7 million, or 34 cents a diluted share, compared with 15 cents last year. Earnings for the year-ago quarter were restated to reflect a two-for-one stock split effective Jan. 8, 2000.
The latest first quarter figures beat the consensus analyst estimate of 32 cents, according to market research firm First Call/Thomson Financial.
Shares of Sanmina closed up $2-3/8, or 5.9 percent, to $42-3/8, on the Nasdaq stock market. The stock had risen sharply through the first three quarters of 2000, hitting a high of $60-1/2 in September, before retreating to current levels.
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Ralph