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Sanmina Cuts Revenue Forecast on Weak Demand |
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Written by Administrator
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Tuesday, 10 April 2007 |
SAN JOSE, CA – Sanmina-SCI Corp. today cut its quarterly revenue forecast and said earnings would be worse than expected because of weak demand for communications and high-end computers. The EMS firm lowered its estimate for revenue for the March quarter to about $2.6 billion, from its previous guidance of $2.65 billion to $2.75 billion. Non-GAAP earnings would also be below guidance, Sanmina said. CEO Jure Sola called the weakness short-term, saying business should improve in the second half. Sanmina said inventories are expected to fall least $90 million in its second quarter, and cash and equivalents would rise least $100 million.
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