Tue, Nov. 3, 10:13 AM
- Sanmina (NASDAQ:SANM) has surged towards $25 after beating FQ4 estimates and guiding for FQ1 EPS of $0.56-$0.60, above a $0.54 consensus. . Revenue guidance of $1.55-$1.6B is in-line with a $1.58B consensus.
- The contract manufacturer is optimistic FY16 (ends Sep. '16) "will be another growth year." The pre-earnings consensus was for FY16 sales to total $6.39B (nearly flat Y/Y).
- Buybacks lifted FQ4 EPS: $51.8M was spent to repurchase 2.5M shares. A new $200M buyback was launched in September. A 3% Y/Y revenue drop led op. margin (non-GAAP) to fall to 3.8% from 4.2% a year ago. Sanmina ended FQ4 with $412M in cash, and $537M in debt.
- FQ4 results, PR
Mon, Nov. 2, 4:07 PM
Sun, Nov. 1, 5:35 PM
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Thu, Oct. 22, 1:53 PM
- Believing its valuation is high and end-market demand is weakening, Goldman has downgraded Sanmina (NASDAQ:SANM) to Sell, and set a $20 target.
- The contract manufacturer currently goes for 9x an FY16 (ends Sep. '16) EPS consensus of $2.32. Shares rallied in July thanks to an FQ3 beat and strong guidance.
Mon, Sep. 14, 6:13 PM
- Sanmina's (NASDAQ:SANM) latest buyback will go into effect once the $18M remaining on a $100M program launched in Sep. 2014 is used up. The company's total available buyback funds are good for repurchasing 14% of shares at current levels.
- The contract manufacturer had $417M in cash to pay for buybacks with as of June 27, and $424M in debt.
Tue, Jul. 21, 9:15 AM
Mon, Jul. 20, 5:39 PM
Mon, Jul. 20, 4:12 PM
- Sanmina (NASDAQ:SANM) has jumped to $20.80 AH after beating FQ3 estimates and issuing strong FQ4 guidance: Revenue of $1.55B-$1.65B and EPS of $0.52-$0.58, above a consensus of $1.56B and $0.53 at the midpoints.
- Financials: FQ3 gross margin fell 10 bps Y/Y to 7.8%. SG&A spend fell 5% Y/Y to $59.7M (boosted EPS). R&D spend rose 6% to $8.3M. $47.7M was spent on buybacks (also lifted EPS). Sanmina ended FQ3 with $417M in cash, and $432M in debt.
- FQ3 results, PR
Mon, Jul. 20, 4:05 PM
Sun, Jul. 19, 5:35 PM
Tue, Apr. 21, 12:47 PM
Tue, Apr. 21, 9:22 AM
Mon, Apr. 20, 5:38 PM
Mon, Apr. 20, 5:04 PM
- In addition to missing FQ2 estimates, Sanmina (NASDAQ:SANM) is guiding for FQ3 revenue of $1.5B-$1.55B and EPS of $0.48-$0.52, below a consensus of $1.64B and $0.56.
- The contract manufacturer attributes the outlook to "continued headwind in our communications networks segment." Industrial, medical, and defense sales are expected to grow.
- Op. margin (non-GAAP) rose 10 bps Y/Y to 3.7%. $21.6M was spent to buy back 1M shares. Sanmina ended FQ2 with $407.7M in cash, and $470M in debt.
- Shares have tumbled to $20.75 AH.
- FQ2 results, PR
Mon, Apr. 20, 4:09 PM
Sun, Apr. 19, 5:35 PM
Sanmina Corp manufactures solutions, components, products and repair, logistics and after-market services. It provides these comprehensive offerings to original equipment manufacturers, or OEMs in communications networks, computing & storage.
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