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DES PLAINES, IL -- SMT and business expert Tony Longo will talk on impending environmental legislation requirements at an IMAPS meeting in Chicago next week.

Longo, a senior market development engineer at Kester, will present on developing a lead-free roadmap that complies with RoHS, the European mandate that restricts hazardous substances such as lead and some bromines.

The meeting will be held Feb. 15 at the Silver Stallion Restaurant in Des Plaines. The presentation starts at 7 p.m.

Longo is an SMTA certified process engineer with 14 years of SMT experience, a bachelor's in manufacturing technology and an MBA in international business.

For more information: imaps.org/chapter/chicago/index.htm.

SAN FRANCISCO -- In a move that has taken most observers completely by surprise, Carly Fiorina has resigned as chairman and chief executive of Hewlett-Packard Co.

Fiorina, who managed the massive merger of HP with one of its chief rivals, Compaq Computer, cited differences with the board over executing its strategy.

In a statement, Fiorina suggested she was fired, "While I regret the board and I have differences about how to execute HP's strategy, I respect their decision. HP is a great company and I wish all the people of HP much success in the future."

The HP board has suggested or initiated several changes of late, from restructuring Fiorina's responsibilities to bringing on a new director whose influence is felt industry wide.

ANGLETON, TX -- Benchmark Electronics reported fourth-quarter net income of $20.2 million on sales of $524 million.

The contract manufacturer outdid last year's performance, when it reported $487 million in sales and net income of $13.4 million, including charges.

For the year ended Dec. 31, the company reported sales of $2 billion, up 8.8%. Net income rose 28% to $71 million.

"2004 was another good year for Benchmark," said Cary T. Fu, president and CEO. "We enhanced our customer base, reduced customer concentration, expanded our low-cost manufacturing capacities, realigned our resources, increased our technical capabilities and delivered solid financial performance.

For the quarter, operating margin was 4.6%, and return on invested capital was 14%.

Inventories decreased by $33 million to $257 million; inventory turns were 7.5 times.

As of Dec. 31, Benchmark had $367 million in cash and no outstanding debt. 
Accounts receivable were $251 million. 

Benchmark guided for first quarter 2005 revenue of $510 million and $530 million.
For the year the company anticipates revenue and earnings growth of 10 to 15%.

"Our 2004 new program bookings provide good momentum for a strong 2005," Fu said.

TEMPE, AZ -- Three-Five Systems Inc. has promoted David A. Prunier to vice president, general manager for the company's Redmond, WA, manufacturing operation.

The position is a newly created post.

Prunier, 43, joined TFS in September 2003 as senior director for the company's medical products business. He is a former general manager at Plexus, and director of manufacturing for SCI Systems.

SANTA ANA, CA -- TTM Technologies Inc. today reported fourth-quarter revenues rose 9% to $59.2 million. Net income was $6.8 million, up fro $8 million sequentially and $4.7 million last year.

Cash from operations exceeded $9 million for the quarter. TTM ended the year with cash and short-term investments of $58.5 million and no outstanding debt.

Sequentially, net sales fell 5% ($3 million), the result of lower orders due to capacity constraints at the circuit board maker's Chippewa Falls facility.

For the quarter, quickturn business made up 26% of net sales, down 1 point from last year. Gross margin decreased to 24.6%, compared to 26.1% last year and 28.4% sequentially. Gross margin was affected by a raw materials price increase, pricing pressure, lower operating efficiency and mix changes, the company said.

For the year, net revenues rose 33% to $240.6 million and net income was up nearly 400%, to $28.3 million. The 2004 results included a restructuring charge of $855,000 and a $1.2 million reversal of a tax valuation allowance.

For its first quarter 2005, TTM guided for revenues of $59 million to $62 million.

In a statement, Kent Alder, president and CEO, said, "While we expect business conditions to remain relatively stable, the benefits of our capacity expansion at Chippewa Falls should offset the seasonal slowdown in quickturn typically experienced in the first quarter of the year."

ANAHEIM, CA -- Beset by cash flow problems, DDi Corp. today killed one of its fleas, announcing it would close its circuit board shops in the U.K. DDi does not anticipate any net write-off or material cash restructuring charges.

In a statement, chief executive Bruce McMaster said, "We believe that the discontinuation of our UK-based business is a positive development for our shareholders. It provides a resolution to the liquidity challenges that have beset that business, enables us to cease reporting that business as an ongoing operation, and permits us to concentrate our efforts on the North American market. "

McMaster said DDi will focus on growing a value-added reseller services business recently begun in the U.S.

The U.K. operations carried heavy debt even before their acquisition by DDi in 2000, McMaster said. The company, which is operating on slim cash reserves, "could not justify" the large amounts of cash needed to restructure.

DDi Europe will be placed into administration, a move that permits DDi Corp. to remove $38 million of the UK-based indebtedness from its books.

In recent quarters, DDi Europe has contributed approximately one-third of DDi Corp.'s consolidated net sales, which totaled about $285 million for the 12 months ended last September.