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SAN JOSE – Flextronics reported a 23% rise in second-quarter net sales from continuing operations of $4.7 billion, a record. GAAP net income was a record $185 million for the second quarter ended Sept. 30, compared to a loss of $2 million a year ago.
Sales were up 16% sequentially. Operating margins at its EMS business improved by 10 basis points year-over-year and gross margin improved sequentially by 10 basis points.
MYRTLE BEACH, SC -- Passives components maker AVX Corp. reported second-quarter net income jumped 128% to $38.8 million over last year, while sales grew 15% to $374.6 million.
In a statement, chief executive and president John Gilbertson said, "After a good first quarter, we have seen continued growth in demand throughout the second quarter in all market segments."
STOCKHOLM -- Mydata Automation last month named Bengt Broman as its next president, replacing Mårten Lundberg, who is leaving the company after 18 years.
Broman is currently president of Teracom AB, and is a former president of LGP Allgon, which was partly owned by Mydata's parent, Skanditek.
In a press release, Broman said, "Mydata is a successful Swedish innovation company with a strong global position within its market segment. It will be extremely stimulating leading Mydata and its competent employees into the next phase of its development. My previous experience with Skanditek as principal owner is that the company adopts a long-term industrial approach, which I support."
Lundberg's will remain president until Broman is able to begin, which is expected to be sometime in early 2007. The company did not announce a transition date.
Under Lundberg, the company's annual sales grew from 28 million Krona ($3.83 million) in 1988 to 643 million Krona ($88 million) in 2005.
Broman is currently president of Teracom AB, and is a former president of LGP Allgon, which was partly owned by Mydata's parent, Skanditek.
In a press release, Broman said, "Mydata is a successful Swedish innovation company with a strong global position within its market segment. It will be extremely stimulating leading Mydata and its competent employees into the next phase of its development. My previous experience with Skanditek as principal owner is that the company adopts a long-term industrial approach, which I support."
Lundberg's will remain president until Broman is able to begin, which is expected to be sometime in early 2007. The company did not announce a transition date.
Under Lundberg, the company's annual sales grew from 28 million Krona ($3.83 million) in 1988 to 643 million Krona ($88 million) in 2005.
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