News
ANGLETON, TX – Benchmark Electronics reported second-quarter
sales of $682 million, down 9.8% year-over-year. Net income was down 15.4% to
$22 million for the period ended June 30.
Revenues were well below Wall Street estimates of $727 million.
SUZHOU, CHINA – Last week, Foxconn announced plans to expand into North America. Today, EMS rival Flextronics returned the favor.
OLATHE, KS – Elecsys Corp. reported fourth-quarter sales rose 33% to $6.9 million. For the quarter, net income fell 19% to $263,000. Operating income was $690,000, up 69%, while gross margin was approximately 37% of sales, up nine points.
For the fiscal year ended April 30, sales were up 18% to $23.4 million, and net income was $688,000, down from $1 million in 2007, when the company booked a $324,000 gain on the sale of a former facility. Operating income was up 12% to $1.7 million, Gross margin was up five points to 35%.
Sales at DCI, the company’s EMS unit, fell $1.4 million because sales reported at DCI no longer include sales made to its new Radix subsidiary. The prior year included sales of $4,454,000 to the former Radix International Corp.
“DCI, the company's largest subsidiary continues to deliver quality products to niche markets and we expect that its specialized expertise in electronic design and manufacturing services should permit it to continue to experience steady growth,” the company said in a statement.
SAN DIEGO – Pulse, a provider of electronic component and subassembly design and manufacturing, will increase prices at least 10% worldwide, the result of higher costs of sub-components, consumables, energy and labor.
Worldwide distribution prices were increased in July and direct customer notifications are underway, said the firm.
“We are not alone in experiencing severe cost pressures in manufacturing and in needing to raise prices,” said Dan Jackson, vice president of worldwide sales. “Government-mandated wage increases, rising supplier costs, and well-publicized high fuel prices can no longer be absorbed. In the interest of our stakeholders, we must increase prices just to keep pace."
Worldwide distribution prices were increased in July and direct customer notifications are underway, said the firm.
“We are not alone in experiencing severe cost pressures in manufacturing and in needing to raise prices,” said Dan Jackson, vice president of worldwide sales. “Government-mandated wage increases, rising supplier costs, and well-publicized high fuel prices can no longer be absorbed. In the interest of our stakeholders, we must increase prices just to keep pace."
TORONTO – EMS provider Celestica Inc. today announced second-quarter revenue was $1.88 billion, down about 3% year-over-year.
Net earnings were $39.8 million, compared to a net loss of $19.2 million for the same period last year.
For the first six months of 2008, revenue was $3.7 billion, compared to $3.78 billion for the same period in 2007. Net earnings were $69.6 million, compared to a net loss of $53.5 million last year.
“We continue to show improvements in operating margins and return on invested capital,” said Craig Muhlhauser, president and CEO of Celestica. “We are continuing to win new business across all of our key market segments.” He called end-market visibility “limited.”
For the third quarter, the company anticipates revenue in the range of $1.9 billion to $2.1 billion.
Net earnings were $39.8 million, compared to a net loss of $19.2 million for the same period last year.
For the first six months of 2008, revenue was $3.7 billion, compared to $3.78 billion for the same period in 2007. Net earnings were $69.6 million, compared to a net loss of $53.5 million last year.
“We continue to show improvements in operating margins and return on invested capital,” said Craig Muhlhauser, president and CEO of Celestica. “We are continuing to win new business across all of our key market segments.” He called end-market visibility “limited.”
For the third quarter, the company anticipates revenue in the range of $1.9 billion to $2.1 billion.
NEENAH, WI – EMS provider Plexus Corp. announced third-quarter revenue of $456 million, up about 17% year-over-year.
Gross profit for the period was $48.8 million, up about 21% compared to the same fiscal period in 2007.
For the nine-month period ended June 28, net sales were about $1.37 billion, up nearly 18% compared to the year-ago period. Gross profit was about $156 million, up nearly 30% year-over-year.
For the quarter, return on invested capital was 21%, and revenues exceeded company guidance.
In a press release, president and CEO Dean Foate said, “Sequentially strong performance in our Wireline/Networking and Medical sectors offset a modest decline in our Industrial/Commercial sector and an anticipated $26 million reduction in revenue from our large unnamed defense program.”
Excluding that defense program, revenue grew 7.3% sequentially.
The firm expects fourth-quarter revenue between $470 million and $490 million.
Gross profit for the period was $48.8 million, up about 21% compared to the same fiscal period in 2007.
For the nine-month period ended June 28, net sales were about $1.37 billion, up nearly 18% compared to the year-ago period. Gross profit was about $156 million, up nearly 30% year-over-year.
For the quarter, return on invested capital was 21%, and revenues exceeded company guidance.
In a press release, president and CEO Dean Foate said, “Sequentially strong performance in our Wireline/Networking and Medical sectors offset a modest decline in our Industrial/Commercial sector and an anticipated $26 million reduction in revenue from our large unnamed defense program.”
Excluding that defense program, revenue grew 7.3% sequentially.
The firm expects fourth-quarter revenue between $470 million and $490 million.
SAN JOSE – Flextronics today announced first-quarter record net sales of $8.4 billion, up 62% year-over-year. The results include the acquisition of Solectron, which Flextronics finalized during the third quarter last year.
Record adjusted operating profit for the period increased 83% compared to the same quarter last year, to $280 million.
Record adjusted net income was $227 million, up 69% year-over-year.
Flextronics said it would repurchase up to 10% of its outstanding ordinary shares, joining rivals Benchmark and Jabil in stock repurchases.
For the second quarter, revenue is expected to be in the range of $8.5 billion to $9 billion.
Record adjusted operating profit for the period increased 83% compared to the same quarter last year, to $280 million.
Record adjusted net income was $227 million, up 69% year-over-year.
Flextronics said it would repurchase up to 10% of its outstanding ordinary shares, joining rivals Benchmark and Jabil in stock repurchases.
For the second quarter, revenue is expected to be in the range of $8.5 billion to $9 billion.
LAKE FOREST, CA – EMS firm Probe Manufacturing is adding design, manufacturing and marketing of proprietary renewable-energy products, including engine control units, converters and inverters.
The company’s OEM arm is the result of two years of investment in research and development efforts to design technologies and products aimed at customers seeking to reduce their energy use and environmental impact.
“We believe alternative energy and green technologies are going to be substantial growth markets in the 21st Century and we have been slowly moving the company in that direction,” Probe CEO Reza Zarif said. “Two major sectors in alternative energy are electricity generation and transportation; our research and development efforts have been focused on these two sectors.”
Probe remains committed to its contract electronics manufacturing business, Zarif said.
The company’s OEM arm is the result of two years of investment in research and development efforts to design technologies and products aimed at customers seeking to reduce their energy use and environmental impact.
“We believe alternative energy and green technologies are going to be substantial growth markets in the 21st Century and we have been slowly moving the company in that direction,” Probe CEO Reza Zarif said. “Two major sectors in alternative energy are electricity generation and transportation; our research and development efforts have been focused on these two sectors.”
Probe remains committed to its contract electronics manufacturing business, Zarif said.
HELSINKI – Elcoteq today reported a second-quarter net loss of 12.8 million euros ($20.48 million) on a 6.6% drop in revenues, to 904.8 million euros ($1.45 billion).
SAN FRANCISCO – It didn’t take much looking to realize what SemiCon West was missing this year: the equipment.
SAN JOSE – The MicroElectronics Packaging and Test Engineering Council announced its 3rd Annual Medical Electronics symposium – Technology Concepts Enabling Product Reality – at Arizona State University in Tempe on Sept 25.
The program is divided into the following areas: revolutionary concepts in medical electronics; advanced materials for medical electronics; key enabling technologies, and next-generation of bio-medical systems.
To register, visit www.meptec.org.
The program is divided into the following areas: revolutionary concepts in medical electronics; advanced materials for medical electronics; key enabling technologies, and next-generation of bio-medical systems.
To register, visit www.meptec.org.
SAN JOSE – EMS provider Sanmina-SCI Corp. today reported fiscal third-quarter revenue of $1.9 billion, up 4.7% sequentially and 13.7% year-over-year.
