Sanmina Corporation reported unaudited consolidated earnings results for the first quarter ended January 02, 2016. For the period, the company reported net sales of $1,534,714,000 against $1,671,162,000 for the same period in the last year. Operating income was $54,053,000 against $53,480,000 for the same period in the last year. Income before income taxes was $48,105,000 against $45,804,000 for the same period in the last year. Net income was $27,138,000 or $0.33 per diluted share against $22,656,000 or $0.26 per diluted share for the same period in the last year. Non-GAAP operating income was $61,018,000 against $68,288,000 for the same period in the last year. Non-GAAP net income was $46,810,000 or $0.58 per diluted share against $53,132,000 or $0.61 per diluted share for the same period in the last year. Cash flow from operations for the quarter was good at $63 million, and net capital expenditures for the quarter were $29 million.

The company provided earnings guidance for the second quarter ending April 2, 2016. For the second quarter, the company expects revenue between $1.55 billion to $1.65 billion and non-GAAP diluted earnings per share in between $0.55 to $0.59. The company expects that gross margin will be in the range of 7.7% to 8.1%. The company expects the tax rate to be around 15%. Finally, for cash flow modeling, the company expects net capital expenditures of approximately $30 million, while depreciation and amortization will be around $25 million.