Sanmina Corp. said its normalized net income for the fiscal first quarter ended Jan. 2 amounted to 38 cents per share, compared with the S&P Capital IQ consensus estimate of 58 cents per share.
EPS decreased year over year from 39 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $31.0 million, a decline of 7.5% from $33.5 million in the first quarter ended Dec. 27, 2014.
The normalized profit margin fell to 2.0% from 2.0% in the year-earlier period.
Total revenue decreased 8.2% on an annual basis to $1.53 billion from $1.67 billion, and total operating expenses declined 8.3% on an annual basis to $1.48 billion from $1.61 billion.
Reported net income grew 18.9% from the prior-year period to $26.8 million, or 33 cents per share, from $22.5 million, or 26 cents per share.
