News
NORTH BILLERICA, MA – BTU International Inc., supplier of advanced thermal processing equipment, reported second-quarter net sales of $20.4 million, up 23% sequentially, and up 48% year-over-year.
Net income for the quarter was $300,000, up nearly 67% sequentially, and up 33% compared to the second quarter of 2007.
Net sales for the first six months of 2008 were $37 million, up 22% year-over-year. Net income for the period was $400,000, down nearly 56% compared to the same period last year.
Paul J. van der Wansem, BTU chairman and CEO, said, "Revenues were at the high end of our forecasted range, with strength in both electronics and alternative energy. Despite healthy gross margins, our earnings for the quarter were lower than anticipated, in part due to higher than expected SG&A cost and effective tax rates.
"We will continue to invest in our growth markets, strongly supporting our electronics business and building upon the opportunities we have in the rapidly growing thin film and silicon solar markets.
“In electronics we see some softening [for the second half] after a stronger than anticipated first half. Revenues for the third quarter are expected to be flat, as compared to the second quarter … " he said.
EL SEGUNDO, CA – Revenue for the global contract manufacturing industry, consisting of EMS and ODM providers, is set to expand to $432.3 billion by 2012, rising at a CAGR of 7.2% from 2007.
While a $126.7 billion gain in revenue during a five-year period may sound like fantastic growth, it actually represents a major slowdown compared to years past, on a percentage basis, says iSuppli Corp.
SAN JOSE, CA – Tessera Technologies Inc., provider of miniaturization technologies, reported total second-quarter revenue of $56.3 million, up about 17% year-over-year.
Net income was $84,000, down significantly from a net income of $9.9 million during the same quarter last year. Income for the second quarter 2008 included non-cash charges of $5.8 million for stock-based compensation and $2.9 million for amortization of acquired intangibles.
Total revenue for the six-month period ended June 30 was $115.7 million, up 19.2% year-over-year. Net income for the period was $2.3 million, down 89% compared to the same period in 2007.
“The significant year-over-year growth in our high margin, recurring royalties highlights the fundamental strength of our business,” said Bruce McWilliams, chairman, president and CEO for Tessera. “In the second half of 2008, we expect to build on the traction gained in our Consumer Imaging business, as illustrated by the new license agreement with Samsung.”
Tessera expects third-quarter total revenue to be within the range of $62 million to $64 million.
