News
SAN BRUNO, CA – Worldwide Manufacturing USA Inc. announced record second-quarter revenues of just over $4 million, an increase of approximately 43% year-over-year.
PLAINVIEW, NY – A slew of private investment groups have completed the acquisition of Aeroflex Inc., a maker of test equipment.
The Veritas Capital Fund III L.P., Golden Gate Private Equity and Goldman, Sachs will pay $14.50 per share for Aeroflex common stock, in a deal approved by Aeroflex’s shareholders July 26.
SIOUX FALLS, SD – EMS provider Raven Industries Inc. reported higher contributions from its flow controls division helped increase sales by 10% year-over-year, to $55.7 million, a record second-quarter, says the firm.
Net income expanded to $5.8 million, up 14% compared to the second quarter last year.
For the first half of the year, sales reached $113.8 million, a 5% improvement year-over-year. Net income was $14.4 million, an increase of 14%.
Electronic systems division sales were $16.7 million, up about 1% year-over-year, while operating income was $2.5 million, a decrease of 13%.
ESD sales for the first half were $31.1 million, down 2% year-over-year. Operating income, at $4.9 million, was essentially even with last year's first-half.
“The electronic systems division should again make a solid contribution to revenues, income and cash flow,” CEO Ronald Moquist said. “We expect all of these factors will combine to give Raven record performance in fiscal 2008.”
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