SON, THE NETHERLANDS – Neways Electronics swung to a first-half net profit on a 25% year-over-year jump in revenue.

 

The electronic manufacturing services company said net sales were €116.9 million for the period ended June 30. Net profit improved to €1.5 million, up from a loss of €4.2 million in the first half of 2009. Gross margin was 48.1%, up from 38% a year ago.

Sales were up 8.4% from the first quarter, to €60.8 million.

The company, ranked 38th in last year's CIRCUITS ASSEMBLY Top 50, cited a "clear and broad-based rise" in demand. In fact, the contract assembler said, suppliers could not keep up with demand.

Bookings as of June 30 were up 20% sequentially, and increased in July, Neways said.

The company forecast second-half results to exceed those of the first six months.

Submit to FacebookSubmit to Google PlusSubmit to TwitterSubmit to LinkedInPrint Article
Don't have an account yet? Register Now!

Sign in to your account