SON, THE NETHERLANDS – Electronics manufacturing services firm Neways Electronics International reported first-quarter 2011 revenue of EUR 72.3 million, up 29% year-over-year.

Net profit increased sequentially, and orders grew 4% to EUR 75.3 million compared to year-end 2010.

EMS market activity showed growth across the board. However, continued increased market demand means several suppliers are as yet unable to fully meet their delivery obligations, the firm says. Neways expects events in Japan to have an effect in the coming months. 

The planned acquisition of the electronic development activities of consultancy and engineering firm DHV was announced early April. Fifty-four DHV engineers will transfer to Neways. Annual revenue from the acquisition is expected to be around EUR 4 million.

Full-year 2011 revenue and profit are expected to exceed those of 2010 by a “considerable measure.”