TORONTO -- SMTC reported first-quarter revenue fell 16% from last year to $48.7 million on reduced volumes from two large prior customers, partially offset by increased revenues from existing customers and a new customer.

The net loss for the period ended Mar. 31 was $400,000, half that of last year's net loss of $800,000. Excluding currency effects the net loss was $100,000, versus a net loss of $1 million in 2014.  

Chief executive Sushil Dhiman stated: "While our first quarter revenue declined from the prior year, I expect to see growth from both existing and new customers driving improved revenue and factory utilization for the remainder of 2015. We are optimistic regarding our pipeline of potential new customers going forward, as the late stage customer pipeline is up versus last year."