News
Tempe, AZ - The manufacturing sector grew in January for the 20th consecutive month, despite a drop in new orders and backlogs. Production reversed a three month slide, said the Institute for Supply Management.
Calling the inventory growth "significant," ISM chairman Norbert Ore said, the PMI reflects "continuing strength in manufacturing. However, manufacturers continue to struggle with prices, particularly for energy.
The PMI measure of economic activity fell 0.9 points sequentially from the revised December number, to 56.4%. New orders fell 6.1 points to 56.5%. However, production rose 1.1 points to 57.8%. Employment was up 4.8 points, to 58.1%.
Electronic Components and Equipment, and Industrial and Commercial Equipment and Computers were among the sectors reporting growth.
LAGUNA, Philippines - EMS provider Integrated Microelectronics Inc. will produce the RadarGolf Handheld golf ball finder device designed by Radar Golf Inc.
IMI president and chief executive Arthur R. Tan said, "We began working with Radar Golf in December 2003 and it is very exciting to see this breakthrough product now so close to coming to market."
Earlier this week, Radar Golf announced in a press release that independent lab tests found the company's patented ball performed equal to or better than competitive balls from Titleist, Callaway, Nike and Maxfli. The tests measured both distance and spin. The ball conforms to U.S. Golf Association standards.
The novel ball contains proprietary ball positioning system technology. When used with the RadarGolf device, balls can be detected from 30 to 100 feet away.
First shipments are scheduled for June.
The company today reported fourth-quarter revenues of $142.5 million, up 10%, sequentially and 8% year-on-year.
Net earnings were $6.6 million, vs. $3.9 million in the fourth quarter of 2003.
Full-year revenues of $531.3 million topped 2003 revenues by
15%. The company, which makes electronics gear, posted net earnings of $20 million, well above 2003 earnings of $12.6 million.
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