News
WASHINGTON -- The Institute of Supply Management on Monday morning is expected to release data showing an improved June manufacturing index, and on Friday, the Labor Department is expected to report a stable unemployment rate.
The numbers, if accurate, suggest the economy is recovering after a first quarter dip.
MILPITAS, CA – Solectron Corp. reported net income for the third quarter fell 71% to $42 million year-over-year.
The company’s sales were $2.99 billion for the quarter, an increase of 3% over the previous quarter, and an increase of 10% year-over-year.
A rebound in sales to Cisco following its Lean initiative and share gains from Celestica drove the sequential increase, said analyst Carter Shoop of Deutsche Bank. Excluding Cisco, Solectron's sales were off 4% sequentially. Consumer electronics sales dropped 15% sequentially and 6% versus last year.
The company’s sales were $2.99 billion for the quarter, an increase of 3% over the previous quarter, and an increase of 10% year-over-year.
On June 4, Flextronics announced it would acquire Solectron. The merger agreement has been filed with the SEC. The transaction is expected to close in the fourth quarter. In a conference call with analysts last night, Solectron did not provide guidance or details on the pending acquisition.
A rebound in sales to Cisco following its Lean initiative and share gains from Celestica drove the sequential increase, said analyst Carter Shoop of Deutsche Bank. Excluding Cisco, Solectron's sales were off 4% sequentially. Consumer electronics sales dropped 15% sequentially and 6% versus last year.
The operating margin was 1.3%, up 0.l points sequentially. Gross margins fell 0.2 points. Inventory days fell one day to 58 days.
VANCOUVER – Creation Technologies, a top 50 EMS provider, plans to acquire Taytronics Inc. of St. Peter, MN. The acquisition will provide Creation with a second facility in the central U.S. and is expected to be finalized July 29. Other financial details were not disclosed.
TOKYO – Meiko Electronics Co., known for PWB fabrication, is building an assembly plant in Vietnam, according to published reports.
The company is investing $32.4 million in an 18,000 sq. meter facility in Ha Tay Province, Business in Asia Today reported. Meiko will break ground in August, and operations are scheduled to begin next June.
The assembly plant is situated next to a PWB plant scheduled to come online in 2007.
Meiko has 4,500 employees and generates nearly $400 million in sales from its six facilities in Japan and China.
LYSAKER, NORWAY – Kitron ASA will acquire EDC i Munkfors' subsidiary EDC Elsis UAB in Kaunas, Lithuania, for SEK 14 million.
The deal is subject to customary closing conditions, which are expected to be completed by August.
Further agreements may be forthcoming, the companies said.
Kitron, which supplies electronics to the medical, defense and telecom industries and performs EMS work, has annual sales of 1.7 billion NOK and employs 1,300.
The EDC site employs about 40 people at its 2,000 sq. meter manufacturing facility.
MINNEAPOLIS, MN – The opening session and annual meeting/keynote address during SMTA International will be held Oct. 9 and 10, respectively, in Orlando.
The free opening session will focus on SMTA’s End Game: Lead-Out, Labels-On, Reliability-In. Marking, Symbols, and Labels for Pb-Free Identification will be led by Steve Greathouse of Greathouse Solutions, and Pb-Free Printed Circuit Board Reliability will be led by Werner Engelmaier of Engelmaier Associates.
The SMTA annual meeting will feature Andrew Alduino, Senior Optical Researcher in the Photonics Technology Lab of Intel Corp. Implementation Challenges of Future Optical Interconnects will address the challenges facing integration to photonics technology, including thermal management, multi-chip package concerns, alignment of components, and more.
The 2006 conference award winners will be recognized, including Best of Conference Presentation, Dave Hillman, Rockwell Collins; Best Proceedings Paper, Robert Darveaux, Ph.D., Amkor Technology; and Best International Paper, Heather McCormick, Celestica, Inc.
At the meeting, the SMTA will present its Association Awards and the Charles Hutchins Educational Grant for $5,000, an award that is given annually to a graduate-level student pursuing a degree and working on thesis research in electronics packaging or related field. (Circuits Assembly funds the grant using proceeds of its Service Excellence Awards.)
The cost for the SMTA annual meeting is $40 for members and $50 for nonmembers.
The free opening session will focus on SMTA’s End Game: Lead-Out, Labels-On, Reliability-In. Marking, Symbols, and Labels for Pb-Free Identification will be led by Steve Greathouse of Greathouse Solutions, and Pb-Free Printed Circuit Board Reliability will be led by Werner Engelmaier of Engelmaier Associates.
The SMTA annual meeting will feature Andrew Alduino, Senior Optical Researcher in the Photonics Technology Lab of Intel Corp. Implementation Challenges of Future Optical Interconnects will address the challenges facing integration to photonics technology, including thermal management, multi-chip package concerns, alignment of components, and more.
The 2006 conference award winners will be recognized, including Best of Conference Presentation, Dave Hillman, Rockwell Collins; Best Proceedings Paper, Robert Darveaux, Ph.D., Amkor Technology; and Best International Paper, Heather McCormick, Celestica, Inc.
At the meeting, the SMTA will present its Association Awards and the Charles Hutchins Educational Grant for $5,000, an award that is given annually to a graduate-level student pursuing a degree and working on thesis research in electronics packaging or related field. (Circuits Assembly funds the grant using proceeds of its Service Excellence Awards.)
The cost for the SMTA annual meeting is $40 for members and $50 for nonmembers.
Press Releases
- Innominds and SIIX launch SIIX-Innominds JV to offer full-stack ODM services in India
- Syrma SGS Technology, Ltd to Accelerate AI-Driven Manufacturing with implementation of analytics and AI solution from Arch Systems in partnership with NMTronics India
- TTCI and The Training Connection Strengthen Electronics Manufacturing with Test Services and Training at PCB West 2025
- SMTA “Members of Distinction” Awards Announced