Sanmina Beats Estimates by a Penny, but Guides Down

Sanmina ( SANM) beat analysts' earnings estimates for the fiscal second quarter by a penny, but the company guided investors down for the upcoming period.

The provide of electronic manufacturing services posted income of $114.9 million, or 34 cents a share, excluding charges, which was in line with Wall Street's 21-analyst consensus projection. Sanmina earned $59 million, or 18 cents a share, in the year-ago period.

Revenue grew to $1.19 billion from $948.4 million in the same period last year. Nine analysts polled by Thomson Financial/First Call were expecting revenue of $1.28 billion.

Sanmina said it is targeting revenue of $900 million to $1 billion for the third quarter, with earnings of 18 cents to 22 cents. Analysts are expecting revenue of $1.3 billion, with earnings of 32 cents in the quarter.

Shares of Sanmina, which is based in San Jose, Calif., gained $4.65, or 20.5%, to $27.33 in regular-session Nasdaq trading, but fell 34 cents, or 1.2% in recent after-hours Instinet activity.

More from Stocks

12 Stocks That Make Up the GLUM Index

12 Stocks That Make Up the GLUM Index

REPLAY: Jim Cramer on Tariff Worries, Oil, Alphabet and Centene

REPLAY: Jim Cramer on Tariff Worries, Oil, Alphabet and Centene

Worth a Stunning $6.6 Trillion, Tech Stocks Have Taken Over the Market

Worth a Stunning $6.6 Trillion, Tech Stocks Have Taken Over the Market

Video: Athens Stock Exchange CEO on What's Next for Greece's Debt Woes

Video: Athens Stock Exchange CEO on What's Next for Greece's Debt Woes

Here's Why Snap Shares Climbed Monday

Here's Why Snap Shares Climbed Monday