VANCOUVER – Northstar Electronics announced second-quarter revenues were $472,828, up almost 27% year-over-year. The company incurred a loss of $201,043 for the quarter, down almost 6% from the same period last year.
First-half revenues were $660,360, down 33% year-over-year. The company incurred a net loss of $408,497, up 17%.
In the first half, Northstar won two contracts from Lockheed Martin: The first award, from Lockheed Martin Aeronautics, is worth $6.3 million. Under it, Northstar is manufacturing parts for the refurbishment of P-3 Maritime Surveillance airplanes. Under the second contract, from Lockheed Martin Canada, Northstar is designing and building prototypes of a sonar system.
Northstar provides EMS services and develops various security and defense OEM products.
SAN JOSE – The EMS market will continue to grow briskly in the coming years as electronics manufacturing outsourcing continues its relentless march, reports Electronic Trend Publications. The research firm reports EMS industry revenue will nearly double in the next five years, reaching $442 billion in 2011.
SALT LAKE CITY – Electronics contract manufacturer CirTran Corp. reported net sales of $2.87 million for the second quarter, up 25.7% sequentially and 29.4% year-over-year.
For the first half, CirTran reported sales of $5.16 million, up 30.4% over the same period last year.
The company reported a net loss for the quarter of $2.57 million, which included interest and other expenses totaling $1.35 million.
In a statement, Iehab J. Hawatmeh, the company’s chairman and president, said expenses were higher in the second quarter because of additional marketing spending. He said the company is hopeful the increased costs will result in increased revenues in the third and fourth quarter.