Sanmina Corp. reported unaudited consolidated earnings results for the first quarter ended December 30, 2017. For the quarter, the company reported net sales of $1,744,800,000 against $1,719,977,000 a year ago. Operating income was $13,788,000 against $58,656,000 a year ago. Income before income taxes was $11,089,000 against $54,847,000 a year ago. Basic loss per share was $2.16 against earnings per share of $0.61 a year ago. Diluted loss per share was $2.16 against earnings per share of $0.58 a year ago. GAAP Net loss was $154,910,000 against net profit of $44,864,000 a year ago. GAAP basic loss per share was $2.16 against earnings per share of $0.61 a year ago. GAAP diluted loss per share was $2.16 against earnings per share of $0.58 a year ago. Non-GAAP operating income was $47.5 million or 2.7% of revenue, compared to $71.7 million or 4.2% of revenue in the first quarter fiscal 2017. Non-GAAP net income in the first quarter was $36.5 million, compared to $57.7 million in the same period a year ago. Non-GAAP diluted earnings per share for the quarter was $0.48, compared to $0.75 for the same period a year ago.

The company provided earnings guidance for the second quarter of fiscal 2018. For the quarter, the company expects revenue between $1.60 billion to $1.70 billion. Expects GAAP diluted earnings per share between $0.20 to $0.30, including stock-based compensation expense of $0.17 and amortization of intangible assets and restructuring costs of $0.03. Expects Non-GAAP diluted earnings per share between $0.40 to $0.50.