SAN JOSE -- SMTC today reported revenue slipped 3.8% to $53.1 million and the net loss widened to $1.3 million from $800,000 a year ago.

Cash flow from operations rose to $4.8 million from $700,000 in the prior year.

Debt, net of cash, was $12.8 million, down $8.2 million from a year ago.

"We experienced margin challenges during the quarter due to product mix, additional costs related to new customer production ramp and realized foreign exchange losses on derivative instruments," said chief executive Sushil Dhiman. "However, I am pleased with our new customer revenue of $13.1 million this quarter and respective year to date revenue of $24.9 million. These new customers continue to ramp and are expected to fully replace the revenues lost from two long standing customers by the year end. We are continuing to add to a healthy sales funnel and our new customer wins are expected to contribute to revenue growth in 2016."

Reports gross profit of $3.1 million compared to $4.6 million in the prior year. The decrease was due to lower revenue, product mix and initial investments required to ramp new customer revenue. This was partially offset by reduced direct labor and overhead charges.

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