News
GLENVIEW, IL -- Illinois Tool Works today reported operating revenue fell 21% for the
three months ended Feb. 28. The drop included a 20% fall in base revenues and a 7%
fall in contributions from currency translation, partially offset by a 7% increase from acquisitions in the period.
MALMO, SWEDEN -- An arbitration board has found in favor of top 40 EMS firm PartnerTech Åtvidaberg AB in its case against Swe-Dish Satellite System AB.
The board ruled Swe-Dish is to pay PartnerTech almost SEK 23 million for invoice claims and costs.
The ruling will raise PartnerTech's reported earnings for the first quarter by more than SEK 3 million.
The board ruled Swe-Dish is to pay PartnerTech almost SEK 23 million for invoice claims and costs.
The ruling will raise PartnerTech's reported earnings for the first quarter by more than SEK 3 million.
ROGERSTONE, UK -- TT Electronics said full-year profits fell 37% on weaker volumes, especially for its automotive components.
For the year ended Dec. 31, the pretax profit before exceptional items was 21.1 million points ($29.5 million). Revenue rose 7.2% to 584.3 million pounds, boosted by foreign exchange and acquisitions. Organic revenue was down 1.7%.
About 40% of TT's revenue came from automotive sales, and the company is trying to lower its exposure to that market to 25 to 30%.
TT, which has laid off 1,295 workers since 2008, said it would fire more staff than previously announced in January, and has implemented short-time working and temporary shutdowns across a number of sites.
For the year ended Dec. 31, the pretax profit before exceptional items was 21.1 million points ($29.5 million). Revenue rose 7.2% to 584.3 million pounds, boosted by foreign exchange and acquisitions. Organic revenue was down 1.7%.
About 40% of TT's revenue came from automotive sales, and the company is trying to lower its exposure to that market to 25 to 30%.
TT, which has laid off 1,295 workers since 2008, said it would fire more staff than previously announced in January, and has implemented short-time working and temporary shutdowns across a number of sites.
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