TORONTO – SMTC reported third-quarter revenue of $55.5 million, down 24% year-over-year, and down 4.3% sequentially.

The sequential revenue decrease was attributed to lower demand from one customer.

The electronics manufacturer posted a net loss of $600,000 for the quarter, compared to net income of $600,000 in the same period last year, and net income of $30,000 in the prior quarter.

“While our revenue declined from the prior quarter, I look forward to our fourth quarter results, where we expect to see our new customer wins ramp up leading to greater revenue levels in 2015,” said CEO Sushil Dhiman.