GAAP net income in the third quarter was US$8.9 million, down from $9.4 million the year before. Revenues also dropped to $1.55 billion, down seven per cent from $1.67 billion in 2011.
"Weak demand in the components business negatively impacted profitability," stated CEO Jure Sola in a release issued late Monday.
"The macro environment remains challenging and it's difficult to predict the future; however, based on new projects and forecasts from our strategic customers, we expect modest revenue growth and margin expansion in the fourth quarter."
Sanmina, which bought Ottawa's Breconridge for $53 million in 2010, let go of an undisclosed number of employees in the national capital in October.
The San Jose, Calif.-based firm manufactures components such as printed circuit boards and cables, and offers services such as logistics and engineering.
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