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News

SAN JOSE -- Flextronics, the world's second-largest EMS company, reported record fourth quarter net sales on the integration of competitor Solectron.

For the period ended March 31, sales rose 66% year-over-year to $7.8 billion, while operating profit increased 86% to $263 million, and adjusted net income jumped 76% to $215 million. Including one-time charges, the company took a loss of $93 million, down from $121 million last year.

MOSCOW – JSC Sitronics reported a 7.9% year-on-year gain in sales, to $605 million, but fell to a net loss of $46.1 million, from earnings of $24.3 million, for the period ended Dec. 31.

For the year, Sitronics reported revenues of $1.62 billion and a net loss of $233.9 million. Cash from operating activities rose $147.1 million for the year.

Sitronics makes telecommunications, IT and other electronics products, and suppliers EMS services.

Sitronics EMS reported sales of $69.3 million for the year. Last year, the company merged its Consumer Electronics and Electronics Manufacturing Services units.

Sitronics forecasted growth of more than 15% in 2008.

TAIPEI -- Wistron Corp. will buy Lite-On Technology's monitor business for $300 million in cash, the company said Tuesday.

The deal covers inventory, equipment, IP and personnel, but no manufacturing plants.

Wistron said more acquisitions would be in the offing and the firm has plans to move some manufacturing to Vietnam.

SIEVI, FINLAND – EMS provider Scanfil reported first-quarter profits rose 16% from a year ago to 3.6 million euros despite a 4% drop in sales to 50 million euros. Operating profit rose 31% to 4.7 million euros.

KYOTO, JAPAN - The Omron Group reported fiscal 2007 net sales of 763 million yen, up 5.4% over last year. Net income rose 10.7% to 42.4 million yen.

Sales were boosted by the weaker yen and business acquisitions.

Operating income rose 5.2% to 65.3 million yen. EBITA from continuing operations fel 0.2% to 64.1 million yen.

Omron makes factory automation equipment and electronics and automotive components.

MANKATO, MN -- EMS firm Winland Electronics has formally promoted Thomas de Petra to chief executive and president.

He had been interim CEO and president since the retirement of longtime CEO Lorin Krueger last January. de Petra has also been Winland's chairman since 2006 and a director since 1994.

TOKYO -- Matsushita reported record profits of 281.9 billion yen ($2.7 billion) for its fiscal year ended in March, up about 30% from last year, on a 0.4% uptick in sales, to 9.07 trillion yen ($86.9 billion).

Operating profit rose 13% to 519.5 billion yen ($4.98 billion).

MAJORCA, SPAIN – Sales of consumer electronics at retail stores will rise 8% this year, down from 14% in each of the past two years, says a leading analyst.

Jürgen Boyny, a consumer electronics analyst for market research institute GfK, said mobile phones will make up about 25% of consumer electronics sales this year, he said, followed by flat-panel TVs (19%), PCs (17%) and digital cameras (6%).

GREENVILLE, SC – Component maker Kemet Corp. reported its executive vice president and chief financial officer David Gable is resigning.

Gable leaves the company to pursue other avenues, Kemet said.

The company announced a restructuring plan in January that will dissolve 120 jobs in the U.S. and 250 jobs in Mexico, with some work moving to China. The company said the job cuts would save about $16 million annually, with a one-time cost of about $7 million.

Gable will remain with the company during the search for a successor.

EL SEGUNDO, CA – The DRAM market finally is showing some signs of improvement, prompting iSuppli Corp. to upgrade its rating of near-term conditions for suppliers.

iSuppli is raising its DRAM rating to ‘neutral,’ up from its ‘negative’ assessment issued in November.

BANNOCKBURN, IL – March PCB shipments among North American fabricators rose 9.5% year-over-year, while bookings jumped 11.2%. Rigid shipments were up 9.5%, and flex shipments were up 9.7%, said IPC.

BREDA, HOLLAND – Cobar Europe BV, member of the Balver Zinn Group and supplier of solder pastes, fluxes, and other electronics soldering materials, has acquired a global license to distribute solder pastes and wire using the SN100C alloy developed by Nihon Superior Co. Ltd.

The license permits Cobar Europe and Cobar Solder Products to sell SN100C solder paste and wire in specific territories allocated by Nihon Superior.

No financial terms were disclosed.

SN100C is a patented nickel stabilized tin/copper alloy that is based on the eutectic 99.3% tin 0.7% copper with a trace amount of nickel.