Circuits Assembly Online Magazine - Venture's Q1 Sales Tumble 20%

SINGAPORE – Venture Corp. reported sales of S$56.7 million ($42.1 million), down 20% from a year ago. The company's losses extended to S$20.7 million, down from a loss of S$16.2 million last year.

The EMS firm cited slower orders and a hit in currency exhange rates for the drop. However, company officials said in a statement it felt the worst from the falling U.S. dollar is over.

Venture's customers include Hewlett-Packard (printers), which makes up about 25% of the company's sales, Iomega (hard drives), and Agilent (networking devices).

Venture is Singapore's largest EMS firm, excluding Flextronics, which is Singaporean in name only.