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Sanmina Swings to Q2 Profit

By Eric Volkman - Apr 22, 2013 at 8:30PM

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The company's bottom line switches from red to black.

After being in the red last quarter, Sanmina's (SANM -0.16%) bottom line has swung into positive territory. In the company's Q2 results, net sales amounted to $1.43 billion, down from the $1.46 billion in the same period the previous year. The bottom line came in at $21.2 million ($0.25 per diluted share) from Q2 2012's net loss of $1.4 million ($0.02) according to GAAP standards.

On a non-GAAP basis, this most recent quarter's net income was $25.3 million ($0.30 per diluted share), against the year-ago Q2's $24.2 million ($0.29).

Sanmina also proffered forward guidance for its current Q3. The company believes its revenue will come in at $1.45 billion to $1.50 billion, and non-GAAP EPS will total $0.32-$0.38 for the quarter.

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