Sanmina-SCI FY Q2 Revs A Tad Low; Stock Slips
Sanmina-SCI (SANM) reported revenue for its fiscal Q2 ended March 29 of $2.4 billion, at the low end of the company’s guidance of $2.4 billion to $2.5 billion. Non-GAAP EPS was 5 cents a share, at the high end of the forecast range of 3-5 cents. The Street consensus was $2.45 billion and 4 cents.
For FY Q3 the contract electronics manufacturer sees revenue from continuing operations of $1.775 billion to $1.875 billion, with non-GAAP profits of 3-5 cents; the Street has been looking for profits of 5 cents.
In after hours trading, SANM shares have slipped 5 cents, or 3.4%, to $1.43; the stock had dropped 5 cents in the regular session.
How can a company with $2.4 billion in quarter revenue be trading at $1.45??
Even more of a mystery, how does a company earn that kind of revenue quarter after quarter and loose money for 7 years - is anyone running this company?
sanm revenue billions with 864millions on hand and stock price 1.45 so undervalue i bet won last long at this price nuturefund and institution will buys them big time .
Revenue down…Cash down…debt up…hopeless…
dead money on sanm…I bought sanm at $ 2.10 to $ 2.30
Waiting…waiting…soooooo loooooong…
Cash flow from operations was down over 50% to $58 million!
your stock has going down lot I wuold like to know what happen it 1.40 a share please let us know above your company thankyou
I have been into this company for quite sometime. I bought at $3.60 Have no clue what is going on.The only think that I do know for sure is that the stock as taken a bath ever since I bought it. Not a happy camper here at all.
They should buy back to lift the stock. Great price for sanm & shareholder.
Stock is looking good for the future, have remove the pc part of the company, now they are focus on core business. Company should be a great buy now…
stock is looking good for the future
No good news from sanmina ?
Foxconn is working to buy out Sanmina-SCI.
Insider Guy is very accurate. Foxconn is in the process of buying out Sanmina. Flextronics had also looked into buying out Sanmina, but went aftr Solectron instead and will be tied up for the next couple of years on that acquisition.
This is the best thing that could happen for Sanmina, since the management there is useless, and the CEO is a moron only interested in his own pocketbook.
Announcement of Foxconn acquisition will be made after Sanmina’s fiscal year end 2008.
Is that a good news or bad news, as the world are almost at a standstill….
I think is good news and I hope that happens soon. SANM Top management has been doing a poor job for years. Organization is not lean, packed with fellows and is gold medal for red tape. Our stock value is crap now. Need good management to recover our investment.
Arooooooga!!! Dive! Dive! Dive!!!
Sanmina stock closing at $1.17… I love it!!! Let’s see them get de-listed and even better - declare bankruptcy!!!
I do hope the worst to Sanruina… for years and years they have treated people like crap…
I do expect very soon they declare theirselves in bankrupcy…they day will come and J Sole will hav to respond of many whys….
boooommmm…….$1.14….weeeeee…what,another boom??????
I’m flying out of here; by reading everyone’s comments. I can say nothing else but 100% the reflect of inside operations. Crapy, crapy, carpy . . . hopeless. The boat is sinking!
Sanmina stock now at $1.08!!! Their stock is sinking faster than the Titanic! Let’s hope Sanmina’s fate is the same as the Titanic!!!
This is what happens when corrupt management treats employees and customers like crap!
hei Employee, which boat (location) are U in.
Sanmina houses the worst management since Julo took office. It’s like cancer and everyone is infected. The best thing to do is find another job and get out before they give you the red slip. It’s not only a bad environment but it’s bad for your mental health. Let me give you a technical viewpoint from Wall Street.
Vin Melvin- GONE
Casio DEwhatever GONE
Kevin Jackson- GONE
Chris Pelich- GONE
Laura Pelich- GONE
The Tank- GONE
Mr Watkins- GONE
Mr Under and Overwood- GONE
Steve Roser- GONE
Hello MCFLY… Anybody home…. This should tell you to JUMP or else be like KDC saying for the rest of your life… popeye….popeye…popeye… i have no knowledge…. 21 years… 21 years….MCSE…..
I have work there for 15 years. Things are not always good, but how can you wish for the plant to close down. We needed new managment-yes– but I want my job, think very much.
I have worked there for 15 years. Things are not always good, but how can you wish for the plant to close down. We needed new managment-yes– but I want my job, think you very much.
Get the Stock While It’s HOT!
Where will we End up? Well, if all goes well they will be like the Brady Bunch and have a big family.
There is… a flip side to that coin though. If it doesn’t work out….
For her…. Her computer will show a “cyclic redundancy chronic error” Please contact your Administrator. After that is repaired she will have IP address conflicts, her computer will be taken out of the domain, her account will be disabled and renamed, she will have no network connection due to connection being pulled from switch, she will end up on a termination list and her computer equipment will be taken away from her.
For him…. He will receive his paycheck with missing hours, he also will take vacation and sick time and realize he has no time available, he will receive letters stating he has been overpaid and that his wages will be garnished for the next 50 years. His direct deposit will stop working and his checks will be lost.
What will happen, we don’t know, just like Sanmina’s future… What can we do? I don’t know, just sit back… and watch the show!
Tech Trader Daily is a blog on technology investing written from Palo Alto, California by long-time Barron's West Coast Editor Eric J. Savitz. The blog provides news, analysis and original reporting on events important to investors in software, hardware, the Internet, telecommunications and related fields.
