04:43 PM EST, 01/27/2025 (MT Newswires) -- Sanmina ( SANM ) reported fiscal Q1 non-GAAP earnings late Monday of $1.44 per diluted share, up from $1.30 a year earlier.

Three analysts surveyed by FactSet expected $1.36.

Net sales for the quarter ended Dec. 28 were $2.01 billion, up from $1.87 billion a year earlier. Three analysts surveyed by FactSet expected $1.98 billion.

The company said it expects fiscal Q2 non-GAAP diluted EPS of $1.30 to $1.40 on revenue of between $1.9 billion and $2.0 billion. Three analysts polled by FactSet expect adjusted EPS of $1.38 and revenue of $1.98 billion.

Additionally, the company said its board approved additional $300 million share buyback program, with no expiration date. At calendar year-end 2024, the company had roughly $37 million remaining under the current program.

Shares of the company were up 3% in after-hours trading.