Chase EMS' Backlogs Up 26% in Nov. Quarter
BRIDGEWATER, MA -- Chase Corp., the parent of Humiseal and the eponymous EMS company, reported revenues fell 8% year-over-year to $28.7 million for the quarter ended Nov. 30.
The net income was $2.12 million, down 6% from the prior year period.
Electronics manufacturing services sales had revenues of $4.5 million, up $100,000 from last year, on increased demand and order activity from existing customers. Soft conditions seen in the market segment earlier in 2009 appear to be improving as customer backlogs increased 26% sequentially to $8.2 million.
Chairman and chief executive Peter R. Chase said, "While financial results are down from the first quarter of fiscal 2009 we have seen some signs of improvement in key markets. We have experienced some global rebound in the electronics area as a result of automotive market recovery spurred by government incentive programs and success from new, more environmentally friendly products."
