News
PHOENIX -- Electronics
manufacturing provider Suntron Corp. reported net sales of $69.3
million and an operating loss of $4.7 million for its fourth
quarter ended Dec. 31. The results include $1.7 million of restructuring
charges due to the closure of two U.S. manufacturing operations. The net loss was $5.7 million,
versus net income of
$100,000 in 2005.
For the year, net sales were down 2% to $320.8 million. Gross profit as a percentage of net sales improved to 5.6% for 2006, up 0.5 points. The gross profit includes restructuring charges of $2.9 million for 2006 and $1.2 million for 2005. The company also cut debt by 33%, to about $32 million. The net loss widened $600,000 to $11.9 million, including a writeoff of debt issuance costs of $1.4 million and restructuring charges of $3.5 million.
For the quarter, the company saw a decrease in gross profit due to higher restructuring costs and lower net sales. Sequentially, gross profit decreased $4.1 million.
In 2006, Suntron closed business units in Lawrence, MA, and Olathe, KS, In February, it sold its Garner, IA, EMS plant for $4.8 million, a gain of approximately $500,000.
For the year, net sales were down 2% to $320.8 million. Gross profit as a percentage of net sales improved to 5.6% for 2006, up 0.5 points. The gross profit includes restructuring charges of $2.9 million for 2006 and $1.2 million for 2005. The company also cut debt by 33%, to about $32 million. The net loss widened $600,000 to $11.9 million, including a writeoff of debt issuance costs of $1.4 million and restructuring charges of $3.5 million.
For the quarter, the company saw a decrease in gross profit due to higher restructuring costs and lower net sales. Sequentially, gross profit decreased $4.1 million.
In 2006, Suntron closed business units in Lawrence, MA, and Olathe, KS, In February, it sold its Garner, IA, EMS plant for $4.8 million, a gain of approximately $500,000.
Although the 2006 financial results do not reflect it,
we believe the restructuring actions taken during the year
have poised the company for a promising future,'' stated
Paul Singh, Suntron's president and chief executive officer.
"We believe that the majority of our restructuring efforts should be complete by the end of the first quarter. As we execute our 2007 business plan, our focus will be on profitable growth, working capital management, and quality customer service," said Singh.
BANNOCKBURN, IL – IPC today announced publication of the 2006-2007 IPC International Technology Roadmap for Electronic Interconnections. The biennial roadmap provides direction for product and process development for companies manufacturing substrates and assemblies. The Roadmap is available as a free download to IPC members at www.ipc.org/membersonly. The Roadmap can also be purchased in a CD format.
EL SEGUNDO, CA – After experiencing a drop in surplus inventory at the end of fourth quarter, semiconductor stockpiles in the supply chain continued to decline in the first quarter as result of previous production cuts by chip manufacturers, according to iSuppli Corp.
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MARLBOROUGH, MA – Flomerics reported sales rose 24% to $27.8 million in 2006, and gross profits climbed 30% to $2.9 million, before taxes and other charges. A key factor was the company’s July acquisition of Nika. Global sales of Nika’s Engineering Fluid Dynamics software grew 33% in 2006. Excluding revenues from Nika, sales grew 13% to $25.3 million for the year. Sales of Flomerics’ Flotherm and Flo/PCB increased 11%, while revenues from MicReD were up 80%. Revenue from Flo/EMC and MicroStripes grew 4%, and Flomerics’ Flovent product’s revenue grew 24%.
PLEASANT PRAIRIE, WI – Promation has been selected to design and build a custom conveyor solution that will permit the manufacture of large platform elevator control cabinets in a progressive assembly line.
The company’s power-driven roller conveyor solutions coupled with air bladder lifts, product rotating stations with overhead lighting, and tool trolleys and power crossover stations have been integrated to create a safe assembly line to manufacture the customer’s 650 lb. control cabinets.
The company’s power-driven roller conveyor solutions coupled with air bladder lifts, product rotating stations with overhead lighting, and tool trolleys and power crossover stations have been integrated to create a safe assembly line to manufacture the customer’s 650 lb. control cabinets.
TEDDINGTON, UK – The upcoming Soldering Science & Technology Club meeting will take place May 24 at the National Physical Laboratory in Teddington, UK. Presentations will include Improving the Prediction of Reliability Performance of Lead-Free Assemblies; Reliability in High Frequency Vibration of Lead-Free Solder Joints; A New Technique for Reliability Assessment based on Power Cycling; Corrosion Properties of Lead-Free Alloys; Measuring the Tin-pest Transformation; Thermal Management Technology Developments in the US; Reliability of Substrates after Processing at Lead-Free Soldering Temperatures, and Will Tin Finished Components Whisker? NPL also will launch an Industry Defect Database and there will be a tabletop exhibition. This event is suited for technologists, engineers and designers, and others wishing to gain a general background in field failures. For information, contact Dr. Chris Hunt at chrishunt@npl.co.uk.
