News
NEWARK, NY – EMS provider IEC Electronics Corp. reported third-quarter revenue of $11.9 million, up about 5.9% year-over-year. Net profit for the quarter was $868,000, up 36.3% compared to the same period last year.
IEC had revenue of $35 million for the first nine months of fiscal 2008, up 10.6% year-over-year. Net profit for the period was $1.96 million, up slightly more than 70% compared to the same period in 2007.
W. Barry Gilbert, chairman of the board and CEO, stated, “We completed the acquisition of Val-u-Tech, refinanced the company with M&T bank, added two new customers, settled our long-standing lawsuit with GE, and improved our operating profit margins…
We expect our consolidated sales will increase for next quarter to between $14.5 million to $15.5 million…”
NORCROSS, GA – Micromeritics, a manufacturer of analyzers and instruments, has moved into a 140,000 sq. ft. facility that doubles the company’s floor space and added a surface mount line among other equipment.
The machine shop now covers 18,000 sq. ft., and manufacturing has been modernized and expanded to 24,000 sq. ft. The applications development laboratory and Micromeritics Analytical Services have both doubled in size. The training center also has been expanded.
The company plans to purchase new lab equipment and has added personnel.
BANGALORE – Eight small bombs blasted Bangalore Friday, with the blasts reportedly killing at least one person and injuring nearly a dozen others.
India’s southern city, the center for the country’s global software outsourcing business, is home to 1,500 companies such as Infosys Technologies and offices of firms such as Microsoft, IBM and Intel.
According to published reports, authorities said the bombs
were located in traffic circles, near bus stops and on important roads, such as
the one to Electronic City.
BEIJING – With the Olympics around the corner, Chinese authorities in Beijing have restricted the traffic flow of goods and materials in an approximate 200-mile ring around the city through Oct. 17. The transportation of dangerous goods (such as plating chemicals and other materials for assembling electronics) has likewise been restricted until Aug. 22 in the Shanghai area.
REDMOND, WA – Data I/O Corp. reported second-quarter revenues increased 38% to $8 million, and net income rose to $1.2 million from a loss of $1.1 million last year.
Backlogs at the end of the second quarter rose to $2.5 million, up 67% sequentially.
NEW YORK – Dover Corp. reported second-quarter revenues exceeded $2 billion, up 10% over last year and a record for the company.
