Sanmina shares skyrocket 15% after company beats earnings
Sanmina Corp. shares rose more than 15% late Monday after the electronics maker reported fiscal 2018 second-quarter profit and sales above Wall Street expectations. Sanmina said it earned $24.6 million, or 33 cents a share, in the quarter, compared with $31.7 million, or 41 cents a share, in the year-ago period. Adjusted for one-time items, Sanmina earned $37 million, or 50 cents a share, compared with $59.1 million, or 76 cents a share, a year ago. Sales reached $1.68 billion, matching sales for the same period of fiscal 2017. Analysts polled by FactSet had expected adjusted earnings of 45 cents a share on sales of $1.64 billion. Sanmina had ended the regular trading session up 0.4%.
Source : MTV
