Sanmina-SCI Misses on the Top and Bottom Lines
Sanmina-SCI (NAS: SANM) reported earnings on Jan. 18. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q1), Sanmina-SCI missed on revenues and missed on earnings per share.
Compared to the prior-year quarter, revenue dropped, and earnings per share dropped significantly.
Margins contracted across the board.
Sanmina-SCI booked revenue of $1.5 billion. The nine analysts polled by S&P Capital IQ anticipated net sales of $1.6 billion. Sales were 9.6% lower than the prior-year quarter's $1.7 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.
Non-GAAP EPS came in at $0.28. The earnings estimates compiled by S&P Capital IQ predicted $0.31 per share on the same basis. GAAP EPS of $0.10 for Q1 were 71% lower than the prior-year quarter's $0.34 per share.
Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.
For the quarter, gross margin was 7.3%, 40 basis points worse than the prior-year quarter. Operating margin was 3.0%, 90 basis points worse than the prior-year quarter. Net margin was 0.6%, 110 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $1.5 billion. Next year's average estimate for revenue is $6.4 billion.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 124 members out of 150 rating the stock outperform, and 26 members rating it underperform. Among 45 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 36 give Sanmina-SCI a green thumbs-up, and nine give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Sanmina-SCI is hold, with an average price target of $10.38.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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