News
DES PLAINES, IL -- SMT and business expert Tony Longo will talk on impending environmental legislation requirements at an IMAPS meeting in Chicago next week.
Longo, a senior
market development engineer at Kester, will
present on developing a lead-free roadmap that complies with RoHS, the European mandate that restricts hazardous substances such as lead and some bromines.
The meeting will be held Feb. 15 at the Silver Stallion Restaurant in Des Plaines. The presentation starts at 7 p.m.
Longo is an SMTA certified process engineer with 14 years of SMT experience, a bachelor's in manufacturing technology and an MBA in international business.For more information: imaps.org/chapter/chicago/index.htm.
Fiorina, who managed the massive merger of HP with one of its chief rivals, Compaq Computer, cited differences with the board over executing its strategy.
In a statement, Fiorina suggested she was fired, "While I regret the board and I have differences about how to execute HP's strategy, I respect their decision. HP is a great company and I wish all the people of HP much success in the future."
The HP board has suggested or initiated several changes of late, from restructuring Fiorina's responsibilities to bringing on a new director whose influence is felt industry wide.
The contract manufacturer outdid last year's performance, when it reported $487 million in sales and net income of $13.4 million, including charges.
For the year ended Dec. 31, the company reported sales of $2 billion, up 8.8%. Net income
rose 28% to $71 million.
"2004 was another good year for Benchmark," said Cary T. Fu, president and CEO. "We enhanced our customer base, reduced
customer concentration, expanded our low-cost manufacturing capacities,
realigned our resources, increased our technical capabilities and delivered
solid financial performance.
Inventories decreased by $33 million to $257 million; inventory turns were 7.5 times.
As of Dec. 31, Benchmark had $367 million in cash and no outstanding debt.
Accounts receivable were $251 million.
Benchmark guided for first quarter 2005 revenue of $510 million and $530 million.
For the year the company anticipates revenue and earnings growth of 10 to 15%.
"Our 2004 new program bookings
provide good momentum for a strong 2005," Fu said.
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