SON, THE NETHERLANDS – Neways Electronics recorded first quarter revenue of $103.3 million, up 41% year-over-year.

Revenue and profit growth was a result of the impact of the EMS company's acquisition of BuS Group, completed last year.

Organic revenue was down 5% compared to the first quarter of 2014. Sequentially, organic revenue was up 15%, revealing signs of recovery due to increased demand in the automotive, semiconductor and industrial sectors, the electronics manufacturer says.

Neways completed its acquisition of BuS in the second half of 2014.

Neways’ orders rose 6% to $178.3 million at the end of March.