(RTTNews) - Wednesday, Sanmina-SCI Corp. (SANM) reported a narrower loss for the fourth quarter ended October 3, essentially on a decrease in operating expenses that more than offset a decline in revenues for the quarter. Looking ahead, the company anticipates first quarter earnings for the next fiscal year to top analyst estimates.

Sanmina-SCI reported a net loss for the quarter that declined to $32.28 million or $$0.14 per share, compared with $485.17 million or $5.48 per share year-ago. GAAP net loss from continuing operations in the fourth quarter was $32.3 million, or a loss of $0.41 per share, compared with a net loss of $473.91 million or a loss of $5.35 per share in the prior quarter.

Non-GAAP net income from continuing operations for the fourth quarter was $94 thousand or a break-even share, compared with $24.02 million or $0.27 per share in the year-ago period.

On average, eight analysts polled by Thomson Reuters estimated a loss of $0.11 per share for the quarter. Analysts' estimates typically exclude special items.

The San Jose, California-based company's net sales for the quarter declined to $1.35 billion from $1.70 billion in the year-ago period. Nine Wall-Street analysts estimated revenues of 1.26 billion for the quarter.

The company's total operating expenses, which includes selling, general and administrative expenses, research and development expenses, amortization of intangible assets, restructuring and integrations costs as well as impairment of goodwill and other assets, declined to $86.60 million from $572.99 million year-ago. The company's net interest and other expenses increased to $35.45 million from $29.78 million a year-ago. Provision for income taxes increased to $4.55 million from $2.03 million in the prior year period.

The company expects adjusted earnings for the quarter ending January 2, 2010 of $0.10 per share - $0.15 per share, on revenues of $1.35 billion - $1.45 billion. Seven Wall Street analysts estimate earnings of $0.01 per share for the quarter.

The quarter saw other electronic manufacturing service providers like Flextronics International perform better than expected, as well due to reduced cost and an increase in demand for technology products.

For the full year Sanmina-SCI, reported a net loss of $136.22 million or $1.65 per share from $486.34 million or $5.50 per share year-ago. GAAP net loss from continuing operations for the full year was $136.2 million or loss per share of $1.65, compared with a net loss of $511.3 million or a loss per share of $5.78 in fiscal 2008.

Non-GAAP net loss from continuing operations for the year was $42.52 million or $0.52 per share, compared with a non-GAAP net income of $69.59 million or $0.79 per share in the year-ago period. Net sales for the entire year declined to $5.17 billion from $7.20 billion year-ago.

SANM closed Wednesday's trade on the Nasdaq at $6.63, up $0.29 or 4.57%.

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