Circuits Assembly Online Magazine - News

News

VANCOUVER – Moventis Capital announced delays with the completion of its first U.S. GAAP audit of recently acquired EMS provider PTL Electronics Ltd., which is required to file consolidated annual statements for Moventis.

Moventis is working with auditors to complete the audit for its 10-KSB and a review of its 10-QSB for the period ended Sept. 30.

On Oct. 22, the company received an OTCBB Delinquency Notice from FINRA, advising the company of the 30-day grace period under the National Association of Securities Dealers Rule 6530 until Nov. 15.

Moventis has been unable to complete the referenced filing within the grace period, and as such will be removed from trading on the OTCBB until the filings are made current, and a NASD Form 211 is filed with the SEC on its behalf by a NASD market maker or broker/dealer to resume quotation on the OTCBB.

Moventis has identified a NASD market maker for the Form 211 filing for reinstatement with the OTCBB once the flings are completed.

Until such time as the periodic reports are current and the Form 211 has been approved, Moventis' stock will continue to trade on the Pink Sheets under the symbol MVTS.

TAMPA – Sypris Electronics LLC, a subsidiary of ODM Sypris Solutions Inc., has received a Defense Department order worth up to $125 million over four years to make cryptocards.

The company describes a cyptocard, known as KOV-21, as a Personal Computer Memory Card Information Security Card.

SYDNEY – EMS provider GPC Electronics announced plans to establish a factory in Shenzhen to manufacture electronics products. Setup in China will be completed by January, and initial volume production is scheduled for March.

MAPLE GROVE, MN – By 2011, the automotive connector market will reach $12.36 billion, according to a leading researcher on connectors.

Last year, the world connector market totaled $39.95 billion, Bishop & Associates Inc. reports.

Automotive is the largest market for connectors, with sales of $9.62 billion, or 24% of all connectors sold worldwide, the researcher says.

Two major factors drive automotive connector sales: higher volumes of vehicles sold and increased electronics content per vehicle.

The North American connector market will grow in the low single digits, but emerging economies, such as China and elsewhere, will achieve double-digit or near double-digit growth, Bishop adds.

Approximately 65% of automotive connector growth will come from an increase in the number of vehicles manufactured. The other 35% will come from increased electronics content per unit. Bishop estimates an average connector value of $153 per vehicle manufactured in 2006.

In emerging economies, connector content will fall below the $153 world average. In mature developed economies, connector content can reach well over $200 per vehicle.

The increase in electronics content comes from comfort, entertainment, navigation, and instrumentation applications within the vehicle.

VANCOUVER – EMS provider and ODM Northstar Electronics reported third-quarter revenues of $688,228, up nearly 40% year-over-year.

The company cut its quarterly loss 72% to $45,605 over 2006.

Year-to-date revenues were $1.3 million, down 6.3% year-over-year. The company incurred a year-to-date net loss of $454,102, down 9.4% compared to last year.

Northstar provides EMS services and builds sonar technology for security and defense customers. During the quarter, Northstar continued work on two Lockheed Martin contracts. Sales for commercial product were also higher sequentially as result of higher demand in Europe, Northstar reports.

“The increasing contract revenues and increasing product sales resulted in an improvement in overall revenues and a significant reduction in the quarterly loss. We expect to see increasing revenues and an improved bottom line in the ensuing quarters ahead,” CEO Wilson Russell said.

MUNICH – The final tally is in, and the numbers reveal Productronica as – still – the world’s largest electronics manufacturing trade show. Some 1,484 exhibitors from 35 countries attended last week’s show.

RICHARDSON, TX – Telecom ODM TXP Corp. reported third-quarter revenue of $2.7 million, an increase of 61% year-over-year. The net loss was $1.3 million, compared to net income of $2.2 million in 2006. The company's thriving prototype design and assembly business was offset by R&D costs related to its optical network terminal product development.

SCHAUMBURG, IL – Misumi USA Inc. next month will conduct a series of configuration technical seminars aimed to help engineers overcome time and performance pressures typically associated with custom machine builds.

The seminars, titled Designing a Better Machine Faster with the Configurable Component, take place at the Hilton Garden Inn in Cleveland on Dec. 5 and at the Crowne Plaza in Dayton on Dec. 6.

The seminars feature Chris Blaszczyk, manager of product development.

To register, visit www.misumiusa.com/techseminars.aspx.

PEMBROKE, BERMUDA - Tyco Electronics Ltd. said its fourth-quarter earnings were $256 million, down 31% year-over-year on restructuring and separation costs.

The company said it took $59 million in restructuring charges, compared with $5 million in the fourth quarter last year.

Tyco Electronics also reported a $20 million charge related to the separation from Tyco International.

Revenue rose 11% to $3.62 billion compared to the same period last year. The company attributed its revenue gain to growth in international markets.

For the fiscal year, Tyco Electronics posted a loss of $554 million, compared with a year-ago profit of $1.19 billion.

Revenue for the full year increased 9% to $13.46 billion, the company said.

SAN JOSE, CA – North American-based manufacturers of semiconductor equipment posted $1.23 billion in orders in October and a book-to-bill ratio of 0.83, according to SEMI.

SANTA CLARA, CA – Agilent Technologies Inc. reported revenues for the fourth quarter were $1.45 billion, 9% above the same period last year.

The company said orders were $1.48 billion for the quarter, an increase of 6% year-over-year.

Agilent reported fourth-quarter adjusted net income of $206 million, up 7.8% year-over-year.

“Electronic measurement markets were very mixed, with strength in aerospace/defense and wireless R&D, a flat profile for wireless handset and electronic manufacturing test, and weakness in computer and semiconductor markets,” Bill Sullivan, president and CEO said.

2007 revenues were $5.4 billion, up 9% year-over-year.

For the first quarter of 2008, revenues are expected to be in the range of $1.35 billion to $1.40 billion, up 5% to 9% from 2007.

RICHARDSON, TX – Titan Global Holdings Inc. announced a record $2.4 million in shipments in October for the company’s electronics division. Titan Electronics generated revenues of $6.9 million for the fourth quarter, a 15% percent increase sequentially.

The announcement follows Titan’s recent acquisition of various secured debt and equity instruments held by Nexus Nano Electronics Inc. Titan will combine Nexus with the operations of its Titan Electronics Group.