Shares of Sanmina (SANM), a leading electronics manufacturing services provider, soared 5.32% in pre-market trading on Tuesday after the company reported strong first-quarter fiscal 2025 results and provided an optimistic outlook for the remainder of the year.
The company reported revenue of $2.01 billion and non-GAAP earnings per share of $1.44 for the first quarter, exceeding analysts' expectations. Sanmina's revenue grew 7% year-over-year, driven by growth in the communications networks and cloud infrastructure end markets.
Looking ahead, Sanmina expects revenue growth in the high single digits for fiscal 2025, driven by new and existing programs as well as adding new customers with higher-margin opportunities. The company also expects earnings per share to grow at a faster rate than revenue, supported by margin expansion initiatives and operational efficiencies.
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