UPDATE 2-Sanmina-SCI sees revenue ahead of Street; shares rise
* Expects Q4 adj EPS $0.32-$0.38 vs est $0.34
* Sees Q4 rev $1.58-$1.63 bln vs est $1.53 bln
* Q3 adj EPS $0.26 vs est $0.29
* Q3 rev down 7 pct at $1.55 bln vs est $1.49 bln
* Shares up 11 pct in extended trading
July 23 (Reuters) - Sanmina-SCI Corp's quarterly revenue beat Wall Street estimates, and the contract manufacturer forecast fourth-quarter sales ahead of analysts' estimates, helped by new projects across its segments.
The company's shares rose 12 percent in extended trading.
Sanmina-SCI, which manufactures circuit boards for chipmakers, expects fourth-quarter revenue of between $1.58 billion and $1.63 billion. Analysts were looking for $1.53 billion, according to Thomson Reuters I/B/E/S.
The company expects higher demand from mobile services providers -- who are ramping up their infrastructure to 4G networks -- to drive demand at its communication segment.
The communications segment contributed about 50 percent to the company's revenue last year.
"We are benefiting from new projects that are starting to ship at the higher rate now and should continue for the rest of the calendar year 2012. This is mainly driven by some key customers," Chief Executive Jure Sola said in a conference call with analysts.
The company said it expects higher demand for its components business -- which it terms as a very high margin contributor -- in the fourth quarter. Revenue at the components business fell 19 percent in the third quarter.
The company competes with Jabil Circuit Inc, Flextronics International and Foxconn International Holdings.
Net income for the third quarter was $8.9 million, or 11 cents per share, compared with $9.4 million, or 11 cents per share, a year earlier.
Excluding items, Sanmina-SCI earned 26 cents per share.
Revenue fell 7 percent to $1.55 billion.
Analysts had expected earnings of 29 cents per share on revenue of $1.49 billion.
Shares of the company were up at $8.03 in after-market trading. They closed at $7.18 on Monday on the Nasdaq.
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