News
SAN JOSE -- Sanmina-SCI pre-announced its fiscal third quarter revenue to be $2.71 billion versus previouslguidance of $2.7 to $2.8 billion.
Sanmina said that excluding one-time items, it expects earnings of six to seven cents a share, down from previous guidance of eight to 10 cents.
The EMS provider blamed the shortfall on a less favorable product mix, less-than-expected profitability in computing, and slower than anticipated improvement in the enclosures.
Strength in communications infrastructure products is being offset by soft sales in military/aerospace and computing, wrote Deutsche Bank analyst Carter Shoop in a research note.
Chairman and chief executive Jure Sola said, "While we are disappointed that our financial results for the fiscal third quarter fell short of our expectations, we believe we have taken the steps necessary to improve on our execution. The market conditions continue to improve and we feel that our short and long-term business model remains intact."
The company also cited poor execution at its Asia PCB plants and restructuring inefficiencies at its facility in Toledo, Spain.
Absolute inventory dollars rose sequentially despite previous expectations of a decline. Shoop estimates third-quarter inventory turns fell from 8.6 times in the second quarter.
On a conference call, Sanmina management said that the fourth quarter will be "hopefully a little bit” better sequentially.
Sanmina said that excluding one-time items, it expects earnings of six to seven cents a share, down from previous guidance of eight to 10 cents.
The EMS provider blamed the shortfall on a less favorable product mix, less-than-expected profitability in computing, and slower than anticipated improvement in the enclosures.
Strength in communications infrastructure products is being offset by soft sales in military/aerospace and computing, wrote Deutsche Bank analyst Carter Shoop in a research note.
Chairman and chief executive Jure Sola said, "While we are disappointed that our financial results for the fiscal third quarter fell short of our expectations, we believe we have taken the steps necessary to improve on our execution. The market conditions continue to improve and we feel that our short and long-term business model remains intact."
The company also cited poor execution at its Asia PCB plants and restructuring inefficiencies at its facility in Toledo, Spain.
Absolute inventory dollars rose sequentially despite previous expectations of a decline. Shoop estimates third-quarter inventory turns fell from 8.6 times in the second quarter.
On a conference call, Sanmina management said that the fourth quarter will be "hopefully a little bit” better sequentially.
LOS ANGELES -- P. Kay Metal Inc. has announced its initial distribution chain for the company's MS2 molten solder surfactant.
MS2 is sold through a combination of direct sales and sales representative companies in North America, and through stocking distributors in South America, Europe and Asia.
"To introduce our revolutionary dross elimination technology to the industry, we've chosen to partner with companies that are highly respected by their customers," said Larry Kay, president. "And in many cases, they also represent assembly technology and wave soldering machines such as Vitronics-Soltec, Electrovert and others."
Appointed were:
The company expects to announce additional distributors and representatives within the next two months.
MS2 is sold through a combination of direct sales and sales representative companies in North America, and through stocking distributors in South America, Europe and Asia.
"To introduce our revolutionary dross elimination technology to the industry, we've chosen to partner with companies that are highly respected by their customers," said Larry Kay, president. "And in many cases, they also represent assembly technology and wave soldering machines such as Vitronics-Soltec, Electrovert and others."
Appointed were:
- OS-Tech: Texas, Oklahoma, Louisiana, Arkansas, Oregon and Washington.
- Electri-Rep Inc.: Iowa, Kansas, Missouri, Nebraska and Southern Illinois. B&L Technologies, Inc.: New York State.
- Phoenix United Associates: Long Island, Metro New York, New Jersey and Pennsylvania.
- Phoenix Marketing Representatives: Arizona, New Mexico, and Nogales, Mexico. Foresite, Inc.: Wisconsin, Indiana, Illinois, Ohio, Kentucky and Michigan.
- Mar-Tec: Alabama, Georgia, Mississippi and Tennessee.
- Wong's Kong King: Asia (Hong Kong, Philippines, China, Malaysia and Singapore).
- Hitech Electronica Industrial e Comercial: Brazil
- Adtool Corp.: Canada.
The company expects to announce additional distributors and representatives within the next two months.
HEREDIA, COSTA RICA -- Specialty Coating Systems has opened an 8,000-sq. ft. facility in Heredia, Costa Rica.
The company will make conformal coating at the plant, its tenth location worldwide.
The company called the site a natural choice as many international companies find attractive the country’s location, workforce and access to growing markets — including electronics and medical devices.
The company will make conformal coating at the plant, its tenth location worldwide.
The company called the site a natural choice as many international companies find attractive the country’s location, workforce and access to growing markets — including electronics and medical devices.
HOUSTON – BP Microsystems today announced that it has shipped the first two units of its Helix Integrated Programming System, its latest automated device programmer.
Helix is a desktop automated system designed to handle a range of packages including MSOP, SOIC, PLCC, SSOP and TSSOP.
BOSTON -- Based on recent increases in demand for air freight, the peak shipping season is about to be underway, a major logistics provider said today. Rates are expected to climb accordingly, said Trans Global Logistics in a bulletin to customers.
In several key regions, demand for air freight began to build in early July. Shippers are expected to begin ramping volumes later this month and in August.
In several key regions, demand for air freight began to build in early July. Shippers are expected to begin ramping volumes later this month and in August.
STRAMBINO, ITALY -- Test equipment maker Seica SpA has completed construction of a factory at its headquarters near Turin, Italy.
The 1300 sq. meter addition nearly doubles the company's previous capacity. The addition includes demo and training rooms.
The 1300 sq. meter addition nearly doubles the company's previous capacity. The addition includes demo and training rooms.
COCONUT CREEK, FL — Inovaxe Corp., a provider of supply-chain management solutions, named Bob Douglas president, responsible for sales, marketing, accounting, technical support, material handling systems and software development.
Douglas is a former vice president of operations at Vertical Communications, where he was responsible for worldwide outsource manufacturing, supplier development, quality, warehousing and distribution. He held a similar position at Speedcom Wireless Corp., and was spent 14 years at Teradyne Connection Systems.
Douglas is a former vice president of operations at Vertical Communications, where he was responsible for worldwide outsource manufacturing, supplier development, quality, warehousing and distribution. He held a similar position at Speedcom Wireless Corp., and was spent 14 years at Teradyne Connection Systems.
AUSTIN -- EMS provider Bantam Electronics Inc. has signed a deal with Acequia L.P. to build hardware
for the Aquador line irrigation control units.
Under the deal, Bantam will provide parts and finished product inventory management, shipping and logistics services, and warranty/RMA support.
Acequia makes irrigation water conservation products for businesses and consumers.
Other Bantam customers include AMD, NetQoS, Crossroads Systems and Wayport.
Under the deal, Bantam will provide parts and finished product inventory management, shipping and logistics services, and warranty/RMA support.
Acequia makes irrigation water conservation products for businesses and consumers.
Other Bantam customers include AMD, NetQoS, Crossroads Systems and Wayport.
MINNEAPOLIS – Angad Singh's talk on an implantable MEMS sensor won Best of Conference at the third annual SMTA Medical Electronics Symposium.
Attendees of the mid-May event voted Singh' presentation, Development of an Implantable MEMS Biomedical Sensor, as the best presentation.
Singh is employed by CardioMEMS Inc.
Conference proceedings are available on CD-Rom from SMTA (smta.org).
RICHARDSON, TX -- TXP Corp., a provider of pre-manufacturing services for the
electronics
industry, has changed its
official corporate name to TXP Corp. and its common
stock will begin
trading under the new ticker symbol TXPO, effective July
14th, 2006.
The company's common shares are traded over the counter.
In a statement, president and chief executive officer Michael C. Shores said, "Our name change and new ticker symbol reflect the broad appeal of our services within the electronics industry, and our growing roster of Fortune 1000 clients. We continue to experience strong growth and have positioned ourselves as a formidable industry player committed to our customers and corporate mission."
The company's common shares are traded over the counter.
In a statement, president and chief executive officer Michael C. Shores said, "Our name change and new ticker symbol reflect the broad appeal of our services within the electronics industry, and our growing roster of Fortune 1000 clients. We continue to experience strong growth and have positioned ourselves as a formidable industry player committed to our customers and corporate mission."
NEWBRIDGE, SOUTH WALES – Axiom Manufacturing Services topped £2 million in sales last month, putting the electronics manufacturing services firm on a run rate of £21.5 million.
The company employs 220 people at its 28,000 sq. meter plant.
VELIKO TURNOVO, BULGARIA -- SVA Group, a top Chinese consumer electronics manufacturer, opened its first plant in Europe. The factory will build televisions and has capacity to produce over 100,000 sets per year.
The company has to date invested more than $1.1 million on its four lines, and will spend another $700,000 to add another line, according to published reports.
The company has to date invested more than $1.1 million on its four lines, and will spend another $700,000 to add another line, according to published reports.
Press Releases
- Absolute EMS Enters Strategic Partnership with PTEC Solutions to Enhance End-to-End Electronics Manufacturing Capabilities
- Indium Corporation Technical Expert to Present at SiP Conference China
- Flex Announces Kevin Krumm as Chief Financial Officer
- Green Circuits Enhances Inspection Capabilities with New DAGE Quadra 5 Pro X-ray System