LONDON — Tin prices are slipping — slightly — on the London Metal Exchange after matching an 18-year high of $15,700 a ton last week. Supplies of the metal, a key element in electronics solder and plating, have been under pressure due to disruptions in Indonesia and Bolivia.
MINNEAPOLIS, MN – HEI Inc. announced net sales for the third quarter were $9.8 million, a decrease of $3.4 million year-over-year.
The largest decrease (approximately $1.4 million) was in the company’s microelectronics division; the division had a series of consolidations in the telecommunications industry and offshore outsourcing of a medical product customer, HEI said.
Net sales of HEI’s flexible substrate business were lower by approximately $1.8 million because of its primary external customer's initiative to consume excess inventories.
For the nine months ended June 2, net sales were $33.3 million, a decrease of $5.4 million year-over-year.
Profit was $199,000 (2% of net sales) for the quarter, compared to 18% for the same quarter last year. For the prior nine-month period, profit was $2.5 million, or 8% of sales, compared to 18% year-over-year.