News
SIOUX FALLS, SD – EMS provider Raven Industries Inc. today announced second-quarter sales of $69.3 million, 24% year-over-year. The largest contributor to the increase was the flow controls division, the firm said.
Net income rose 17% to $6.8 million compared to the second quarter last year.
Year-to-date, sales were $144.4 million, up 27% compared to the first half of 2007. Net income reached $17.7 million, up 23% compared to the same six months last year.
Electronic Systems Division second-quarter sales were $14.7 million, down 12% from the year ago period. Operating income was $1.2 million, down 51%. Year-to-date, sales for the division were down 10% year-over-year to $28 million, while operating income was $1.9 million, down 62%.
The firm expects weaker third-quarter electronic systems sales compared to last year’s strong performance.
Flow Controls Division second-quarter sales grew 93% from a year ago, reaching $22.7 million. Operating income for the three months jumped 172%, to $7.1 million. In the most recent six months, revenues expanded 82%, reaching $57.6 million. Operating income reached $20.6 million, up 112% compared to last year's first half.
ROLLING MEADOWS, IL – BEST Inc. will celebrate its grand reopening on Sept. 24 at 3:30 pm. The BESTFest event will take place at the firm’s newly renovated 25,000 sq. ft. headquarters in Rolling Meadows, IL.
The celebration will feature games, contests, food and tropical drinks.
RSVP to Laura Ripoli at lripoli@solder.net.
BEST specializes in BGA and PCB rework services, and offers products that streamline hand soldering, rework and repair.
BEIJING – China’s handset production is expected to surpass 605 million units in 2008, up about 9% year-over-year, according to CCID Consulting.
About 66% of those handsets will be exported to markets overseas, said the firm.
The production of handsets reached 279 million units in the region for the first half of this year; the global top-five – Nokia, Samsung Electronics, Motorola, Sony Ericsson and LG Electronics – represented 65% of that total, said CCID.
Sales reached 96.4 million units in the first half, up 17.5% compared to the same period in 2007, according to CCID.
