Investing.com -- Shares of Sanmina Corporation (NASDAQ:SANM) fluctuated in after-hours trading, rising as much as 3% before dipping 1% after the company reported first-quarter earnings in line with Wall Street expectations, with revenue slightly surpassing estimates.
The electronics manufacturing services provider posted earnings per share of $1.44, matching analyst forecasts. Revenue for the quarter reached $2.01 billion, just ahead of the $2 billion consensus estimate.
"We delivered solid first-quarter financial results, with revenue towards the high end and non-GAAP earnings per share exceeding our outlook," CEO Jure Sola said.
For the second quarter, Sanmina expects EPS in the range of $1.30 to $1.40, trailing the consensus estimate of $1.42. The company anticipates revenue between $1.9 billion and $2 billion, below analysts' expectations of $1.99 billion.
"We continue to see positive trends and are confident that fiscal 2025 will be a growth year," Sola added as the company issues a conservative guidance.
Sanmina also announced that its Board of Directors authorized an additional $300 million for its share repurchase program.
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