WASHINGTON (dpa-AFX) - Sanmina-SCI Corporation (SANM), an integrated manufacturing services company, reported third-quarter net income of $8.9 million, down from $9.4 million in the comparable quarter last year. Earnings per share remained unchanged from last year's $0.11.
Excluding items, non-GAAP net income for the quarter was $21.9 million or $0.26 per share, compared to $35.1 million or $0.42 per share last year.
On average, 10 analysts polled by Thomson Reuters expected the company to earn $0.29 per share. Analysts' estimates typically excludes special items.
Net sales for the latest quarter declined to $1.55 billion from $1.67 billion in the year-ago quarter. Analysts expected revenues of $1.49 billion for the quarter.
Looking ahead to the fourth quarter, Sanmina-SCI forecasts non-GAAP earnings per share in a range of $0.32-$0.38 on revenues ranging from $1.575 billion-$1.625 billion.
Analysts currently expect the company to earn $0.34 per share on revenues of $1.53 billion in the fourth quarter.
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