News
VELDHOVEN, the NETHERLANDS -- Assembléon today announced Tonn van de Laar will replace Andre Papoular as chief executive.
ANGLETON, TX – Benchmark Electronics announced sales of $538 million for the quarter ended Mar. 31, down 6% year-over-year, on weaker demand and inventory adjustments.
The contract electronics manufacturer reported first-quarter net income of $15 million, a drop of nearly 17% compared to the same period last year.
Computing was down 29% sequentially, medical was off 26% due to inventory adjustments and supply disruptions from Japan, and telecom dropped 8%. Computing slowed on lower demand, but is expected to rebound as a new program ramps in the current quarter. Gross margins fell 70 basis points to 7.1%.
The company said demand is picking up as the year progresses. “During the quarter, we saw weaker than expected demand primarily due to customer inventory adjustments following strong fourth-quarter demand,” said CEO Cary Fu. “We expect sales in the second quarter to rebound, as our customers achieve balancing of inventory levels to match demand.”
Sales for the second quarter are expected to range from $560 million to $600 million.
SON, THE NETHERLANDS – Electronics manufacturing services firm Neways Electronics International reported first-quarter 2011 revenue of EUR 72.3 million, up 29% year-over-year.
Net profit increased sequentially, and orders grew 4% to EUR 75.3 million compared to year-end 2010.
EMS market activity showed growth across the board. However, continued increased market demand means several suppliers are as yet unable to fully meet their delivery obligations, the firm says. Neways expects events in Japan to have an effect in the coming months.
The planned acquisition of the electronic development activities of consultancy and engineering firm DHV was announced early April. Fifty-four DHV engineers will transfer to Neways. Annual revenue from the acquisition is expected to be around EUR 4 million.
Full-year 2011 revenue and profit are expected to exceed those of 2010 by a “considerable measure.”
