Sales improved "significantly" during the quarter, the company said, and current indications "are that this strength has continued into the second quarter."
Of the sales increase, $1.24 million came from the company's Ottawa operations acquired in the first quarter 2004.
For the quarter, gross
margin increased to
$930,000, from $100,000 a year ago. Selling, general and administrative
costs were $1.14 million, down 13.6% from $1.32 million.
Sequentially, sales were slightly higher while the net loss was lower.
F. Michael Marti, president and CEO, said Adeptron "has made significant progress by reducing costs while maintaining revenue. Starting in the fourth quarter of 2004, we engaged in an aggressive and ongoing campaign to improve the cost structure. The cumulative effects of these cost reduction measures will be more evident in the second quarter and fully reflected by the third quarter."
Sales increased by 27% and maintenance revenues increased by 13% over last year's first quarter.
The financial statements incorporate for the first time the adoption of new International Financial Reporting Standards published by the International Accounting Standards Board. Net profit before expensing Share-Based Compensation was $823,000 in Q1 '05 - nearly three times higher than the same quarter last year ($295,000).
Research and Development expenses were $2.8 million - an increase of 5.7% year-on-year.
NATICK, MA -Cognex Corp., a supplier of machine vision systems, has acquired DVT Corp., a privately-held company based in Duluth, GA.
Cognex purchased the outstanding shares of DVT with a cash payment of $104 million made at the closing, and a final payment of up to $11 million in cash to be paid at the end of a one-year escrow period.
Cognex plans to maintain operations at the Georgia facility, and to continue selling and supporting the vision products through DVT's existing third-party distribution channel.
As a result of the acquisition, Cognex expects an increase in its revenue of approx. $15 - $20 million during fiscal year 2005.
Noting the "disappointing" margins of the last quarter turned in by Taiwan-based ODMs Hon Hai, Asustek and Quanta, Deutsche Bank asserted that further downsizing is ahead for the industry.
A program committee, drawn from university and industry members, will review submitted papers in a range of disciplines, including: emerging technologies, components, assembly, lead-free and business trends.
For more info, visit: http://www.npl.co.uk/ei/clubs/sstc/.
While visiting the site, also note that the FAQ page ( www.npl.co.uk/ei/news/faqs.html ) has been updated and extended.
It now poses the "Top 37 Questions" giving answers and offering advice on a range of topics relevant to lead-free soldering, including the WEEE/RoHS directives, compliance, solder replacements, equipment upgrades, component compatibility, reliability and training.
HARRISBURG, PA - Tyco Electronics Corp. will close its Austin PCB manufacturing plant by July 1, and lay off about 190 employees, according to a news article.
Mike Ratcliff, a spokesman for Tyco, told a local paper that work from the 240,000 sq.-ft. plant will be transfered to other Tyco plants. The Austin location has stopped taking orders for PCBs but will fulfill existing orders.
"The printed circuit group has been
evaluating how best to operate the business, reduce costs where
possible and eliminate duplication," Ratcliff says. "It's a competitive
industry."
Tyco purchased the plant from Raytheon, which in turn obtained it through a large purchase of the defense business from Texas Instruments.
There has been no report at this time of other Tyco operations closing down.
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- ROCKA Solutions Continues Expansion in Brazil with New Location in Manaus