News
Electronics manufacturing services (EMS) provider Flextronics (Singapore) has announced results for its fourth quarter and fiscal year ended March 31, 2004. Net sales for the quarter were a record $3.8 billion, a 23% increase over the March 2003 quarter. Net sales for the fiscal year reached $14.5 billion, up $1.2 billion, or 9%, from 2003.
Proforma net income was $72.8 million, or $0.13 per diluted share for Q4, up $47.4 million from Q4 2003. Including after-tax amortization expense of $8.8 million and restructuring costs of $48.0 million, net income was $16.0 million, or $0.03 per diluted share, down from $19.5 million, or $0.04 per diluted share, year-on-year..
"Our financial results continue to improve as we realize the earnings leverage embedded in our business, said Michael E. Marks, chief executive officer of Flextronics. "Quarterly revenues grew 23% on a year-over-year basis, while proforma profits nearly tripled. Both operating margin and revenues were stronger than expected, as the quarter ended less seasonal than expected for handsets and other consumer related products."
Flextronics also announced that it intends to convert all of the outstanding 0% Convertible Junior Subordinated Notes issued in March 2003 into approximately 19 million shares of common stock. The company filed a Registration Statement on Form S-3 to register the shares, and the conversion will be completed after the Securities and Exchange Commission declares the Form S-3 effective. The conversion will not impact Flextronics' diluted EPS, as the stock equivalents have always been included in the diluted EPS calculation.
Copyright 2004, UP Media Group. All rights reserved.
Intellon Corp. (Ocala, FL), a provider of integrated circuits (ICs) for high-speed powerline networking, has shipped its one millionth HomePlug IC. According to the company, virtually all of the HomePlug powerline communications products in the global market today are powered by Intellon's integrated circuits.
The ICs enable high-speed communications over existing powerlines in homes and small businesses. They power over 50 products from more than 24 equipment manufacturers. These products can be purchased at retail outlets such as Best Buy, CompUSA, Circuit City, Mediamarket and Radio Shack.
Intellon customers are continuing to develop new products that take advantage of the ICs with applications as WiFi extension, online gaming, whole-house audio and security. The ICs are also being used for broadband over powerline (BPL) access applications, opening a third pipe (in addition to cable and DSL) to deliver broadband to homes and multi-dwelling units such as apartments and hotel rooms.
Intellon is extending the capability of its HomePlug product line to enable HDTV distribution over home powerlines. By the end of the year, Intellon will launch its PowerAV chipsets, which support application speeds in excess of 100 Mbps, allowing transmission of multiple audio, standard-definition video and HDTV video streams over powerlines.
Intellon Corp.is a privately-held fabless semiconductor company specializing in powerline networking and communications.
Copyright 2004, UP Media Group. All rights reserved.
Tecnomatix Technologies Ltd. (Herzlia, Israel), a provider of manufacturing process management (MPM), has announced that Korea-based electronics manufacturing services provider Samsung Computers has implemented eMPower solutions from Tecnomatix Unicam, a wholly owned subsidiary of Tecnomatix Technologies Ltd., in its first Chinese computer manufacturing facility. The implementation helps Samsung fulfill manufacturing traceability standards required by the plant's key customer, a major computer notebook/laptop provider.
Samsung is using the traceability management and material management modules of Tecnomatix's printed circuit board (PCB) production management system for business decision-making. The traceability management module helps Samsung Computers document a product's manufacturing history. By automating this data collection process, Samsung will reduce data collection costs and achieve simple, accurate reporting of component and PCB board traceability records.
The material management module tracks material from inventory through kitting, setup and verification with real-time inventory visibility to quantity and location. The solution manages and optimizes the feeder change over process for improved throughput.
Samsung Computers has already seen return on investment with faster change over times and an improved verification processes. Shortly after the implementation at Samsung, the material management module detected a loading error related to a non-conforming part. By alerting users of the non-conformance at an early stage in the manufacturing process, Samsung avoided having to either rework the entire lot, or have a far more costly product recall later on.
"We are pleased with the early results we've experienced with the Tecnomatix solutions we've implemented," said Lee Buyng Bum, manager of Production Support Division of Samsung Electronics Suzhou Computer Co. Ltd. "Tecnomatix has delivered a very effective set of solutions and services addressing our materials handling, verification and product traceability needs. We will continue to look to Tecnomatix for new technology in these and other areas."
Copyright 2004, UP Media Group. All rights reserved.
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