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ARLINGTON, VA – During the last five years, February has been good to the electronic components industry and it was no different last month: Orders bounced back after a January downturn, according to the Electronic Components Association.
WASHINGTON – The manufactured goods trade deficit dropped by $7 billion year-over-year in January, the Commerce Department reported today.
The January manufactured goods deficit was $37 billion, up 15.9% year-over-year, with exports rising 11% and imports growing only 1%.
The report was hailed as validation that “export-led growth and free trade are continuing to hold the economy above water,” said Frank Vargo, National Association of Manufacturers’ vice president for international economic affairs.
“While the overall U.S. trade deficit in January was $4 billion larger than the same period last year, this was due to the continued growth in the petroleum trade deficit,” Vargo said.
“The export gain continues a trend that is due to – among other things – the competitive value of the dollar,” said Vargo. “The slow import growth can also be attributed to the value of the dollar, though the slowing U.S. economy has cooled demand for consumer and other goods."
The January manufactured goods deficit was $37 billion, up 15.9% year-over-year, with exports rising 11% and imports growing only 1%.
The report was hailed as validation that “export-led growth and free trade are continuing to hold the economy above water,” said Frank Vargo, National Association of Manufacturers’ vice president for international economic affairs.
“While the overall U.S. trade deficit in January was $4 billion larger than the same period last year, this was due to the continued growth in the petroleum trade deficit,” Vargo said.
“The export gain continues a trend that is due to – among other things – the competitive value of the dollar,” said Vargo. “The slow import growth can also be attributed to the value of the dollar, though the slowing U.S. economy has cooled demand for consumer and other goods."
OXFORDSHIRE, UK – A workshop covering stack/package on package, aimed at the next generation of design and assembly engineers, will take place May 1 in Oxfordshire.
Presented by SMART Group and IMAPS, the event is aimed at engineers; designers; production; quality and inspection engineers. The workshop is also for managers who would benefit from a better understanding of the coating process.
For more information, visit www.smartgroup.org/pdf/popassembly.pdf.
To book a tabletop exhibition space, visit www.smartgroup.org/pdf/TableTopSpace2004.pdf.
Presented by SMART Group and IMAPS, the event is aimed at engineers; designers; production; quality and inspection engineers. The workshop is also for managers who would benefit from a better understanding of the coating process.
For more information, visit www.smartgroup.org/pdf/popassembly.pdf.
To book a tabletop exhibition space, visit www.smartgroup.org/pdf/TableTopSpace2004.pdf.
JACKSON, MI – Sparton Corp. CEO and president David W. Hockenbrocht has retired, effective March 7. He also resigned as a director.
MILTON, NY – Sono-Tek Corp. has created two business units: electronics and advanced energy and ultrasonic coating solutions.
Steve Harshbarger will head the electronics and advanced energy unit, while Luis Abarca will head the ultrasonic coating solutions unit. Both will report to Dr. Joseph Riemer, president.
The company will hire additional sales and applications development staff.
SCOTTSDALE, AZ – Nan Ya, Wistron and Chemtura have joined the research and development organization High Density Packaging User Group International.
The companies will participate in three halogen-free environmental projects currently underway, the HDPUG said.
Nan Ya PCB Corp. is a subsidiary of the Formosa Plastics, Taiwan’s largest company.
Wistron is among the world’s largest ODMs.
Chemtura supplies components to the lubricants industry and produces urethane polymers, among others.
“These companies bring a wealth of knowledge and experience to HDP, and their support will be beneficial to all of our activities,” said Marshall Andrews, executive director of HDP.
The companies will participate in three halogen-free environmental projects currently underway, the HDPUG said.
Nan Ya PCB Corp. is a subsidiary of the Formosa Plastics, Taiwan’s largest company.
Wistron is among the world’s largest ODMs.
Chemtura supplies components to the lubricants industry and produces urethane polymers, among others.
“These companies bring a wealth of knowledge and experience to HDP, and their support will be beneficial to all of our activities,” said Marshall Andrews, executive director of HDP.
PARIS – Gas supplier Air Liquide will open three electronics materials centers this year in Japan, Taiwan and China.
The company, which supplies nitrogen and other gases, employs 3,000 workers and had sales of €944 million in 2007.
TORONTO – EMS provider SMTC Corp. reported fourth quarter revenue of $66.8 million, up 24% sequentially, and down 12.2% year-over-year.
For the quarter, net earnings were $1 million, up from a net loss of $1.2 million in the third quarter, but down 52.4% year-over-year.
Gross profit was $6.4 million, or 9.5% of revenue, compared with $3.4 million (6.3% of revenue) and $7.7 million (10.1%) year-over-year.
“Fourth quarter results reflect our customers' resumption of traditional order levels that were unusually low in the previous quarter. As expected, our results did not attain the record level in 2006; however, our overall financial performance was in line with our expectations,” stated John Caldwell, president and CEO. “Notably, we have engaged with several new customers that are now ramping to solid revenue levels. We also progressed two important strategic initiatives to bring additional capability to our customers by expanding our footprint in Mexico and China.”
Revenue for 2007 was $256.4 million and net income was $2.7 million, down 2.4% and 74.3% respectively year-over-year. Caldwell blamed very soft orders in the third quarter for the drop. Cash flow from operations was $25 million.
"Our goals for 2008 are to achieve substantially higher earnings on a growing revenue base, as well as continuing to generate cash from operations to further reduce debt,” Caldwell said. “We expect results in the second half to be stronger with new customers, ramping to higher volumes and seasonality of certain of our longstanding customers.”
For the quarter, net earnings were $1 million, up from a net loss of $1.2 million in the third quarter, but down 52.4% year-over-year.
Gross profit was $6.4 million, or 9.5% of revenue, compared with $3.4 million (6.3% of revenue) and $7.7 million (10.1%) year-over-year.
“Fourth quarter results reflect our customers' resumption of traditional order levels that were unusually low in the previous quarter. As expected, our results did not attain the record level in 2006; however, our overall financial performance was in line with our expectations,” stated John Caldwell, president and CEO. “Notably, we have engaged with several new customers that are now ramping to solid revenue levels. We also progressed two important strategic initiatives to bring additional capability to our customers by expanding our footprint in Mexico and China.”
Revenue for 2007 was $256.4 million and net income was $2.7 million, down 2.4% and 74.3% respectively year-over-year. Caldwell blamed very soft orders in the third quarter for the drop. Cash flow from operations was $25 million.
"Our goals for 2008 are to achieve substantially higher earnings on a growing revenue base, as well as continuing to generate cash from operations to further reduce debt,” Caldwell said. “We expect results in the second half to be stronger with new customers, ramping to higher volumes and seasonality of certain of our longstanding customers.”
TAIPEI – Delta Electronics reported consolidated sales revenues for February of $299.4 million, up 24% year-over-year, and down 26% sequentially.
The company's cumulative consolidated sales revenues from January to February were $702 million, up 28% compared to the same period last year.
Delta Electronics’ power system business – recently consolidated into one group – constituted 56% of February sales, components represented 19%, video displays 3%, and industrial automation 6%. Other, including EMS services, was 16%.
The company's cumulative consolidated sales revenues from January to February were $702 million, up 28% compared to the same period last year.
Delta Electronics’ power system business – recently consolidated into one group – constituted 56% of February sales, components represented 19%, video displays 3%, and industrial automation 6%. Other, including EMS services, was 16%.
BISIE, CONGO – Congolese rebel soldiers are running national tin mines and causing havoc with consumer electronics firms intent on following best practices for corporate humanitarianism.
BANNOCKBURN, IL – Bob Black, the gregarious president and chief executive of Juki Automation Systems, and Zhou Xin, senior director of advanced technology research and development at Huawei Technologies, are among the nominees for IPC’s board of directors.
Also nominated was Graphic Plc executive chairman Rex Rozario.
Elections will be held April 1 at the Apex trade show. If elected – a certainty – the three would each serve two-year terms between April 2008 and March 2010.
The nominations of Rozario and Xin are notable as IPC has had fewer than a handful of directors since its inception in 1957.
Rozario, a 53-year industry veteran who has reported ties to PCB pioneer Paul Eisler, is based in Devon, UK. Xin has 20 years of technical and research experience in electronics manufacturing and is based in Shenzhen. He chairs the European Institute of Printed Circuits, suggesting greater ties between that group and IPC is in the offing.
Black has nearly 35 years of senior executive management experience in the PCB and semiconductor industries.
Nominees were selected by IPC’s Nominating and Governance Committee and approved by the full board.
The IPC also announced OneSource Group chief executive Nilesh Naik was nominated as chairman, Rohm and Haas vice president Bob Ferguson as vice chairman, and OnCore Manufacturing Services president and CEO Steve Pudles as secretary/treasurer.
BANNOCKBURN, IL -- Executives from IPC and more than 35 other electronics assembly suppliers met in China in February to discuss the prospects for producing a trade show there.
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