Sanmina Corp. (SANM) Message Board

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Technology Stocks : Sanmina Corp. (SANM)

SANM 170.37

-1.2%

Nov 7 9:30 AM EST

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To: Matthew P who wrote (25)	1/21/1998 1:19:00 AM
From: kolo55	Read Replies (1) of 239

Earnings report out today. Briefly, revenues were $159M with fully diluted EPS of 63 cents before merger related expenses that dropped EPS to 53 cents. I was surprised that the top line growth, adding the newly acquired Elexsys operations in, was basically flat with last Q. Sanmina reported $114M for the SepQ and Elexsys's last report was $44M for the JunQ. If Elexsys revenues were flat, and adding the two together, I estimate the company should have been doing about $158M combined in the SepQ. This makes the $159M in the DecQ virtually flat sequentially. Maybe this has caused the stock weakness lately. The inclusion of Elexsys in the mix dropped the operating margin to 15.2% (before special items) versus an historical margin of 17% for Sanmina. They must have been giving guidance to lower EPS expectations, because the reported fully diluted EPS still beat the consensus by about 2 cents. Paul

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