Sanmina’s second quarter - ‘Better than expected’

GAAP operating income in the second quarter was USD 48.8 million or 2.9% of revenue, compared to USD 58.2 million or 3.5% of revenue for the second quarter fiscal 2017. GAAP net income in the second quarter was USD 24.6 million, compared to GAAP net income of USD 31.7 million for the same period a year ago. "Results for the second quarter were better than expected," stated Bob Eulau, Chief Executive Officer of Sanmina Corporation in a press release. "Our outlook for the third quarter reflects new programs moving to volume production and better demand. As new programs come online and yields continue to improve, we remain optimistic about the second half of the year." For the third quarter of 2018 the company is forecasting revenues between USD 1.70 billion to USD 1.75 billion.