HONG KONG -- Surface Mount Technology Holdings, a top 50 EMS company, reported a fiscal third-quarter loss of HK$27.4 million ($3.5 million), more than twice its loss of a year ago.

The contract electronics assembler reported sales fell 1.5% to HK$468.9 million ($60.1 million) for the period ended Dec. 31.

The company said the higher losses were due to a higher volume of turnkey business, which has a lower margin than its consigned material operations.

For the year, sales are up 27%, while net losses have increased 13.1%.

Ed.: 1 HK$ = 0.128253 US$

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