TORONTO -- Top 50 electronics manufacturing services company SMTC today reported first-quarter revenue rose 27% to $61.4 million on increased orders from a number of customers.

Sales increased $10.2 million sequentially, and, not including discontinued operations, were 37% higher than the first quarter 2009.

Net income was $2.6 million, up from a net loss of $2.5 million last year, which included restructuring charges and losses from discontinued operations.

"SMTC produced strong first-quarter results, the result of increased orders for most of SMTC's longstanding customers combined with five newer customers ramping production," said president and chief executive John Caldwell. "We continue to see signs of economic recovery. We experienced wide spread increased customer orders in the first quarter and thus far in the second quarter. With this strong order intake combined with a large opening order backlog, we expect continued sequential second quarter revenue growth. Although we have less visibility beyond the second quarter, at this point we expect aggregate revenue in the last two quarters at least to attain the first half level."

SMTC generated $3.7 million in cash during the quarter. The company ranked 49th in last year's CIRCUITS ASSEMBLY Global Top 50. 

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