News
Nashville, TN, Nov. 10 —Mike Bixenman, Kyzen Corp.'s CTO, will present a paper on "Optimizing Cleaning Energy in Batch and Inline Spray Systems" at the Nov. 11 meeting of the SMTA Intermountain Chapter. Pat Ryan of Indium Corp. will follow with a presentation on lead-free.
The meeting will take place from 5:30 to 8:30 p.m. at Computrol in Meridian, ID, and will focus on cleaning and lead-free.
Carlsbad, CA - FUJI Do Brasil Máquinas Industriais LTDA has signed on to market Asymtek's automated fluid dispensing systems throughout South America and Brazil. Established in 1995, Fuji Do Brasil is headquartered in Sao Paulo, with branches in Manaus and Campinas.
The company has over 600 machines installed in Brazil--reportedly 50% of the SMT equipment market share. The Sao Paulo office has a complete SMT line and partners with UNISAL University for SMT process training. The Manaus facility partners with NOKIA to offer SMT process training, rework and maintenance for customers.
TORONTO, Nov. 8 - SMTC Corp. today reported third-quarter net earnings of $2.9 million on revenue of $60.8 million.
Last year the electronics manufacturing services provider reported net earnings of $2.6 million on $77 million in sales.
Sequentially, net earnings were up from $1 million, although sales dropped from $66.3 million.
SMTC settled two legal disputes during the quarter. In a claim for obsolete inventory previously written down, the company recovered $1.8 million, which was recorded in cost of sales. And the company adjusted by $1.7 million an earlier restructuring charge taken for early termination of a lease.
SMTC took restructuring charges of $1 million during the quarter.
Gross profit was $7.3 million, or 12.1% of revenue, compared with $8.1 million (10.6% of revenue) last year and $7.3 million (11.1%) in the second quarter. Cash from operations was $3.9 million; as a result the company's outstanding revolving credit facility dropped to $9.7 million from $13.3 million. The company reported no cash balance on its balance sheet. Debt was reduced by $4 million during the quarter.
Through Oct. 3 SMTC posted revenue of $196.6 million, down from $229.2 million in 2003. Net earnings were $3.8 million, compared with a net loss of $37.2 million.
SMTC was recently notified by Nasdaq that it has regained compliance with the minimum bid price requirement of $1 per share.
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- SIA Applauds CHIPS Act Incentives for GlobalWafers Projects in Texas and Missouri
- ROCKA Solutions Continues Expansion in Brazil with New Location in Manaus