News
RICHARDSON, TX – Titan Global Holdings announced record revenue of $122 million and a consolidated net operating loss of $24.4 million for the first quarter of 2008, up 75.4% and 75.8% year-over-year, respectively.
Titan’s net operating loss included $21.1 million in net writedowns for goodwill in its communications and global brands divisions, and an additional $4.4 million asset writedown in its communications division.
Titan’s electronics and homeland security division, which includes its PWB and EMS operations, recorded revenues of $6.8 million and net operating income of $574,000; revenue increased 20.6% compared to the first quarter of 2007, on the acquisition of Nexus Nano (now called Neo EMS).
Titan’s communications division recorded revenue of $22.3 million and a net operating loss of $18.7 million, a revenue decrease of nearly 9% and a loss increase of 99% year-over-year.
Titan says it has initiated a plan to revitalize its communications division during the second quarter.
Titan’s net operating loss included $21.1 million in net writedowns for goodwill in its communications and global brands divisions, and an additional $4.4 million asset writedown in its communications division.
Titan’s electronics and homeland security division, which includes its PWB and EMS operations, recorded revenues of $6.8 million and net operating income of $574,000; revenue increased 20.6% compared to the first quarter of 2007, on the acquisition of Nexus Nano (now called Neo EMS).
Titan’s communications division recorded revenue of $22.3 million and a net operating loss of $18.7 million, a revenue decrease of nearly 9% and a loss increase of 99% year-over-year.
Titan says it has initiated a plan to revitalize its communications division during the second quarter.
TOKYO – Omron Corp. reported net sales rose 9.2% year-over-year to $5.2 billion for the nine-month period ended Dec. 31, backed by strong sales of electronic components and car electronics.
Net income increased 6.7% year-over-year to $272.2 million.
Capital investment in the semiconductor and electronic components industries weakened in comparison with the same period the previous year, but sales of factory automation control systems – Omron Group’s core business – were generally firm, the company says. Sales of automotive electronic components expanded in line with car electronics demands.
For the current quarter, Omron said markets are expected to be weak as a result of restrained capital investment, primarily among semiconductor and LCD manufacturers. The market for consumer and commerce components for IT and digital related products in Japan is expected to remain difficult to predict in the March quarter. Sales of automotive electronic components are projected to continue expanding, reflecting increasing needs for car electronics.
Omron expects net sales below original projections for the full year as a result of lower-than-expected demand for domestic private-sector investment.
SAN JOSE – Flextronics’s third-quarter adjusted net income rose 84% over last year to $250 million on net sales of $9.07 billion. The company’s December quarter sales were boosted 67%, thanks to its acquisition of rival Solectron Corp.
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