OXFORD, CT – MIRTEC reported first-quarter 2012 sales revenue growth of more than 18% year-over-year for its North American sales and service division.
The firm attributes this growth to the MV-7 inline AOI product series.
BANNOCKBURN, IL – IPC’s chairman today urged the US Congress to change a proposed Securities and Exchange Commission rule on conflict minerals.
MINNEAPOLIS – Electronics manufacturing services company Nortech Systems reported net sales of $28.4 million for the first quarter, down 2% year-over-year.
Net income was $122,805, up 25% compared to the first quarter of 2011. Income from operations rose 15% to $328,430.
“We’re pleased with our improvements in operating profits during the first quarter,” said Mike Degen, Nortech Systems’ president and CEO. “The progress we’ve made integrating our acquisitions, along with our ability to better control costs and expenses, helped us generate $2.7 million in operating cash flow for the quarter.
“We’re seeing encouraging signs from certain industrial and medical customers, evidenced by our backlog positions in these markets registering modest single-digit increases since year-end,” he added.
TORONTO – Electronics manufacturing services firm SMTC Corp. reported first-quarter revenue was $72.5 million, up 29% year-over-year, and a slight increase over the previous quarter.
Net income was $2.44 million, up 227% year-over-year.
Adjusted EBITDA was $4.3 million, up 87% compared to the first quarter of 2011, and a slight increase sequentially.
“Revenue for the quarter was at its highest level since the fourth quarter of 2006. For the balance of 2012, we anticipate continued strong top and bottom line performance in line with our previously announced guidance,” said co-CEO Claude Germain.
SHANGHAI -- Tied by its manufacturing relationship and mass criticism of its worker relations, Apple and Foxconn will jointly underwrite the costs to improve labor conditions at Foxconn's China plants.
Foxconn chairman Terry Gou made the remarks during a ground-breaking ceremony for its new headquarters here. No dollar figure was provided, but the public relations spin was evident:
"We've discovered that this (improving factory conditions) is not a cost. It is a competitive strength," Gou reportedly said, according to Reuters. "I believe Apple sees this as a competitive strength along with us, and so we will split the initial costs."
WARRENDALE, PA -- SAE International has published a standard governing procurement practices to ensure valid components.
