NEWARK, NY -- IEC Electronics reported second-quarter revenue of $11.9 million and net profit of $673,000. For the quarter ended March 28, revenues climbed 9% and earnings were up 11.6% over last year. (A year ago, pro forma earnings included a one-time gain; without it, net profits would have been $314,000.)
For the quarter, gross margin improved to 11.6%, from 10.3% sequentially, due to changes in product mix and improved manufacturing efficiency.
In a press release, chairman and CEO Barry Gilbert said, “We had a solid quarter. The current economic slowdown is challenging and some of our customers are experiencing reduced revenue growth in their markets. While we expect some of the demand from these customers to be lower than last year, other customers are substantially increasing their orders with us, and their prospects appear to be bright for the balance of fiscal 2008.”
For the quarter, gross margin improved to 11.6%, from 10.3% sequentially, due to changes in product mix and improved manufacturing efficiency.
In a press release, chairman and CEO Barry Gilbert said, “We had a solid quarter. The current economic slowdown is challenging and some of our customers are experiencing reduced revenue growth in their markets. While we expect some of the demand from these customers to be lower than last year, other customers are substantially increasing their orders with us, and their prospects appear to be bright for the balance of fiscal 2008.”
SAN JOSE -- Flextronics, the world's second-largest EMS company, reported record fourth quarter net sales on the integration of competitor Solectron.
For the period ended March 31, sales rose 66% year-over-year to $7.8 billion, while operating profit increased 86% to $263 million, and adjusted net income jumped 76% to $215 million. Including one-time charges, the company took a loss of $93 million, down from $121 million last year.
MOSCOW – JSC Sitronics reported a 7.9% year-on-year gain in sales, to $605 million, but fell to a net loss of $46.1 million, from earnings of $24.3 million, for the period ended Dec. 31.
For the year, Sitronics reported revenues of $1.62 billion and a net loss of $233.9 million. Cash from operating activities rose $147.1 million for the year.
Sitronics makes telecommunications, IT and other electronics products, and suppliers EMS services.
Sitronics EMS reported sales of $69.3 million for the year. Last year, the company merged its Consumer Electronics and Electronics Manufacturing Services units.
Sitronics forecasted growth of more than 15% in 2008.
For the year, Sitronics reported revenues of $1.62 billion and a net loss of $233.9 million. Cash from operating activities rose $147.1 million for the year.
Sitronics makes telecommunications, IT and other electronics products, and suppliers EMS services.
Sitronics EMS reported sales of $69.3 million for the year. Last year, the company merged its Consumer Electronics and Electronics Manufacturing Services units.
Sitronics forecasted growth of more than 15% in 2008.
TAIPEI -- Wistron Corp. will buy Lite-On
Technology's monitor business for $300
million in cash, the company said Tuesday.
The deal covers inventory, equipment, IP and personnel, but no manufacturing plants.
Wistron said more acquisitions would be in the offing and the firm has plans to move some manufacturing to Vietnam.
SIEVI, FINLAND – EMS provider Scanfil reported first-quarter profits rose
16% from a year ago to 3.6 million euros despite a 4% drop in sales to 50
million euros. Operating profit rose 31% to 4.7 million euros.
KYOTO, JAPAN - The Omron Group reported fiscal 2007 net sales of 763 million yen, up 5.4% over last year. Net income rose 10.7% to 42.4 million yen.
Sales were boosted by the weaker yen and business acquisitions.
Operating income rose 5.2% to 65.3 million yen. EBITA from continuing operations fel 0.2% to 64.1 million yen.
Omron makes factory automation equipment and electronics and automotive components.
Sales were boosted by the weaker yen and business acquisitions.
Operating income rose 5.2% to 65.3 million yen. EBITA from continuing operations fel 0.2% to 64.1 million yen.
Omron makes factory automation equipment and electronics and automotive components.
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