Sanmina-SCI Jumps On Strong FY Q4; Stock Soars

Sanmina-SCI (SANM) shares are sharply higher this afternoon on a stronger-than-expected earnings reports for its fiscal fourth quarter ended October 3.

For the quarter, the contract electronics manufacturer posted revenue of $1.35 billion ahead of the Street at $1.26 billion, and ahead of guidance of $1.2 billion to $1.3 billion, although down from $1.7 billion a year ago.

Non-GAAP profit of $94,000 or under a penny a share, were well ahead of the Street consensus estimate of a loss of 11 cents a share.

For FY Q1, the company sees revenue of $1.35 billion to $1.45 million, and non-GAAP EPS of 10-15 cents a share; the Street had been expecting $1.32 billion and a penny a share.

In late trading, SANM is up 87 cents, or 13.1%, to $7.50.