GELDERN -- After less than a year, Germany's two largest PCB manufacturers have dissolved a joint sales, marketing and production deal.
In a press release today, Fuba and Ruwel said they have also withdrawn a corporate holding company. The companies joined forces just last year.
As a reason the companies cited differences in views on the strategic alignment.
For the second half of 2004, sales rose 14.4% to $79.7 million. Second half net income was $2.9 million, vs. a loss of $3.7 million.
For the quarter, gross margins were 10%, up from 4.3% last year.
Dynalab electronics manufacturing services include through-hole and surface-mount PCB assembly, wire harness and cable assembly, insert molding, and electromechanical assembly. The company also supplies proprietary continuity test equipment to the general electronics, automotive and telecommunications industries.
For the year, net income was $7.4 million, down $700,000. Revenue rose 54% to a record $425.4 million.
The fourth quarter proved to be extremely difficult," said
Jeffrey T. Gill, president and chief executive, in a statement. "The record
increase in revenue was overshadowed by cost overruns that were
incurred to increase manufacturing capacity, launch new programs and
respond to shortages in material during a period of escalating
customer demand."
Gill said he expected the problems to be rectified in the first six months of 2005.
"The outlook for continued growth remains positive, with net
orders increasing 30% to $129.7 million during the quarter, resulting
in an increase in net orders of 48% to a record $476.4 million," Gill said.
Backlog rose 26% to $249.8
million at the end of 2004, while new contract awards increased to a
record $1.5 billion, from $639 million for the prior year.
For the year, electronics revenue fell 9%
to $165 million, primarily
reflecting lower shipments of federal data storage products and circuit
card assemblies for an
attack helicopter program and an end-of-life missile program. The
company did see a 17% increase in revenue from test and measurement
services. Gross
profit declined to $28.4 million, from $36.3 million in 2003.