Circuits Assembly Online Magazine - Current Issue

News

NEWARK, NY – IEC Electronics Corp. announced revenue for the fourth quarter was $9.6 million, up 15.6% year-over-year.

Fourth-quarter net income was $296,000, down nearly 16% compared to the same period in 2006.

For 2007, IEC reported net income of $875,000, up 75% year-over-year. Revenue was $40.9 million, an increase of 44.7% compared to 2006.

CEO W. Barry Gilbert said, “The fourth quarter was negatively impacted by significant product design and test issues related to programs from two new customers, and by inefficiencies associated with the influx of recently hired employees. We estimate that the combined effect of these issues on the quarter’s results was approximately $1 million in sales and upwards of $300,000 in pretax earnings, which we hope to recover during the current fiscal year ... We expect the impact of design and test issues on quarterly performance to lessen as we assimilate the new customers’ products and experience revenue growth.

The military and industrial sectors, respectively, represent 36% and 33% of sales for fiscal 2007 compared with 23% and 25% of sales for fiscal 2006.

… we expect our sales to increase by more than 20% and earnings to increase by as much as 70% from fiscal 2007.”

SCOTTSDALE, AZ – Intel, Nan Ya, Foxconn and a host of other companies are scheduled to speak at a January symposium on halogen-free technology.

Mostafa Aghazadeh, Intel vice president and director of Chandler assembly technology development, and F.Y. Lee, vice president of Nan Ya materials, will keynote the conference.

Topics covered at the symposium will include OEM’s environmental positions and roadmaps, supply chain readiness, and challenges including material availability, cost and reliability.

Intel will host the symposium, which takes place Jan. 15–16, in Scottsdale. IPC is a co-producer.

Among the companies that plan to participate are Dell, HP, Apple, Lenovo, and the U.S. EPA.

To register: http://www.ipc.org/calendar/2008/intel_halogen_free/intel0108-REG.pdf

MINNEAPOLIS – The SMTA announced Bill Barthel of Plexus and Dr. Laura Turbini of Research in Motion were re-elected to three-year terms on the association’s board of directors. Bill will serve as VP of technical programs and Laura will continue to serve on the association’s planning committee.

Joe Belmonte of Bose Corp. and Marie Cole of IBM were elected to the planning committee.

Current directors include president David Raby of STI Electronics, VP communications Tom Forsythe of Kyzen; VP membership Jim Kuehn of Tyco Electronics Automation Group; treasurer Dan Baldwin of Engent, and secretary Irene Sterian of Celestia.

Other planning committee members include chairperson Steve Greathouse of Greathouse Solutions; Dr. Ning-Cheng Lee of Indium; and Dr. Denis Barbini of Vitronics-Soltec.