News
iSuppli forecasts worldwide semiconductor sales will hit $237.1 billion in 2005. The firm said last month that sales would grow 9.6% in 2005.
iSuppli cited lower sales forecasts for electronics equipment, which is expected to grow 6.2% in 2005, down from 10.1% this year.
The firm also cited growing chip stocks: excess inventories in the supply chain doubled last quarter, to $1.6 billion, iSuppli said.
2006 will mark the low point for IC sales, followed by a recovery in 2007 and 2008, iSuppli predicts.
ELK GROVE VILLAGE, IL, Dec. 7 -- SigmaTron International Inc. today reported net revenues increased to $27.9 million for the quarter ended Oct. 31. Net income was $1.3 million, down from $1.8 million a year ago.
SigmaTron had sales of $26.5 million in the year ago quarter.
First-half sales rose $1.5 million, to $52.9 million. Net income fell $800,000, to $2.3 million.
Sales were higher for telecommunications and appliances, the firm said.
Gary R. Fairhead, president and chief executive, said, "Pricing pressures, product life cycle issues and component pricing impacted our results."
The company operates plants in Elk Grove Village (Chicago); Las Vegas; Fremont, CA (SMT Unlimited); Acuna, Mexico; and Suzhou, China. The latter's sales rose in the quarter now employs 135 workers.
GRAND RAPIDS, MI, Dec. 7 -- MiQuest, a maker of electronics assemblies, is planning to expand its factory here to meet higher demand, according to a local news report.
According to the report, city officials are reviewing zoning ordinances in order to pave the way for the firm's expansion.
MiQuest currently employs 50 and could add 20 to 25 more if the city approves the zoning request, the report said.
The company hopes to begin construction "as soon as possible" and production will start early next year, MiQuest project manager Richard Tournier reportedly said.
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