Sanmina-SCI's Loss Widens

The company projects sales of $2.6 billion to $2.75 billion for the fourth quarter.
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Electronics manufacturing company


(SANM) - Get Report

said its third-quarter loss widened and the company provided a flat fourth-quarter outlook.

In the quarter ended June 28, the company lost $12.2 million, or 2 cents a share, compared with a loss of $5 million, or 1 cent a share, in the year-ago period.

Excluding merger costs and restructuring charges, the company earned $1.4 million, or 1 cent a share, matching analysts' third-quarter forecast, vs. a profit of $3 million, or 2 cents a share, in the prior-year quarter.

Total sales were $2.65 billion, up slightly from last year's $2.62 billion.

Sanmina, based in San Jose, Calif., projected fourth-quarter revenue of $2.6 billion to $2.75 billion, with earnings of 1 cent to 3 cents a share, before items. Analysts currently expect a profit of 2 cents a share on sales of $2.74 billion.

Shares of Sanmina were losing 7 cents to $7.28 in morning