SAN JOSE -- Sanmina-SCI Corp.'s fourth-quarter sales fell 2% to $2.77 billion versus last year, the company said last night. The company provided preliminary results but did not release full results due to an ongoing restatement of past financial reports, It said it expects to post between a penny-per-share loss and profit of 1 cent per share, excluding one-time items.

For the year, sales fell 6% to $10.96 billion.

On a conference call with analysts, Sanmina guided for first-quarter sales of $2.7 billion to $2.85 billion and for fiscal 2007 sales of $11.8 billion to $12.3 billion. The company forecast operating margins of 7 to 7.5%.

In a research note, Deutsche Bank analyst Carter Shoop called the fiscal 2007 guidance "bullish," adding, "We believe the low-end of guidance will prove difficult to achieve."

Read more ...