News
In a Sept. 29 ceremony at SMTA International, in Rosemont, IL, Yi will receive The Founder's Award, SMTA's highest form of recognition.
Yi has been a member of SMTA since 1997 and was a directors from 2000 to 2003. He is a former chair of the Chapter Leadership Committee and an active member of the Technical, Awards, Membership, and Certification committees.
In a press release, the SMTA said Yi's greatest accomplishment may be his role in international development. Yi has been the SMTA's liaison for activities in China, including a chapter in Hong Kong, an office in Shenzhen, and four technical conferences.
Other award recipients:
- Jeffrey Forster of Universal Instruments, a 14-year member of SMTA and a founder and officer of the Oregon Chapter, will receive the Member of Distinction Award.
- Randy Cherry of Telllabs will receive the Excellence in Leadership Award. Cherry, a member since 1987, has been heavily involved in the association's Chicago chapter, and served on the SMTA Membership Committee.
- Kester Corp. will receive the SMTA+ Corporate Partnership Award. A corporate member since 1985, Kester has institutionally supported SMTA's educational and other programs.
- Abby Tsoi will receive the International Leadership Award, a new award. He has been president of the Hong Kong Chapter since 2001, and gainedsupport from the City University of Hong Kong in order to provide a low-cost office and free venue for chapter activities.
Effective Sept. 20, SMTEK president and CEO Edward Smith will depart for a senior executive position with Avnet Electronics Marketing.
In a press statement, Smith said, "The financial performance reported over the last several quarters shows how SMTEK's initiatives are paying off. I have decided for personal reasons to relocate to the area of the country that I call home."
SMTEK's board has named senior vice president and chief financial officer Kirk Waldron as interim president.
Smith will continue as a director of SMTEK, the company said.
SMTEK chairman James Burgess said the company's financial guidance remains unchanged.
The position reports to president and COO James McClintock.
Dr. Lessner, who has been with Kemet for eight years, was director of technical marketing services. He has a bachelor's in chemical engineering from Cooper Union and a Ph.D. in chemical engineering with a focus in electrochemical engineering from the University of California Berkeley.
NORTHBROOK, IL, Aug. 27 -- Orders for rigid boards upticked in July and demand for flex circuits continues to be strong, according to the latest 90-day moving average of North American manufacturers.
For all board types, shipments rose 31.1% and bookings were up 42.2% vs. a year ago, said IPC, which administers the monthly poll. The figures may include some sales of products built offshore and brokered by the surveyed companies.
The July book-to-bill was 0.99 for rigid, up 0.04 points sequentially. The B2B for flex circuits remained even at 1.57.
The book-to-bill for all board types rose to 1.10, up 0.04 points sequentially.
The ratio is calculated by averaging the number of orders booked over the past three months and dividing by the average sales billed during the same period. A ratio of 1.06 means that for every $100 in shipments, $110 worth of PCBs were booked. An increasing ratio is generally considered a sign of a market poised to rise.
Shipments are up 34.8% year-to-date, bookings 43%. Combined July shipments fell 18.1% sequentially, while bookings inched up 1.9%.
July rigid shipments were up 17.6% and bookings 20.5% over last year. Year-to-date, rigid shipments are up 25.5% and bookings are up 23.1%. Among those surveyed, rigid shipments fell 21.2% sequentially and bookings dropped 7.5%.
July flex shipments were up 76.1% while bookings reversed last month's decline, rising 71.1% vs. last year. Year-to-date, flex shipments are up 77.8% and bookings 133.2%. Sequentially, flex shipments fell 3.7% and bookings were up 56.1%.
Flex sales, which include some value-added services, make up about 17% of total PCB sales in the IPC poll.
The data come from a sample of North American rigid and flexible PCB manufacturers.
The EMS provider assembles thin-film diode LCD modules for Seiko.
In a statement, Isomu Koike, president of Seiko Epson's Philippine plant, said, "This is the first time we have embarked on a close cooperation with another company and I believe that this partnership with IMI will be lasting and fruitful."
Based on server revenues, IBM remained the top vendor, with sales up 10.8% to $3.5 billion, good for a market share of 30.7%. Dell's revenue rose 20.1% to $1.1 billion, making it fastest growing OEM among top-tier vendors.
H-P led the way in shipments, with 463,489 units. Sun Microsystems showed the highest growth rate, with shipments up 38.4%, to 90,487 units.
Following a scheduled mid-quarter conference call, Flextronics CFO Bob Dykes said, "Growth continues very strongly and our business is looking very solid."
Flextronics reiterated July guidance for Q2 earnings of 15 to 18 cents per share before items.
In recent weeks several analysts had expresssed concern over rising inventories, particularly among makers of telecom and communications gear. On the call, chief executive Michael Marks pooh-poohed the negative sentiment, saying "concerns about inventories were way overblown in our industry."
Later, to a news service, Dykes said, "The September and December quarters are strong ones for us and therefore inventories will rise along with that."
For the quarter ended June 27, total net earnings grew 135%, also to $2.5 million.
The results include net sales of $11.9 million from the company's Pittsburgh operation, acquired in February.
For the year, net sales rose 28% to $131.5 million. Net earnings from continuing operations rose 110% to $7 million. Total net earnings grew 205% to $6.9 million. The net loss from discontinued operations was $102,000.
Gross margins improved to 23.1%, up from 20.3% in 2003, the result of product mix, operating productivity gains and higher sales volume.
Selling and administrative expenses declined one point, to 14% of sales.
The company has debt of $37.7 million, up from $7.1 million last year, and cash and cash equivalents of $793,000, versus $4 million in 2003.
LaBarge guided for fiscal 2005 first-quarter net sales to increase at least 36%, to $41 million to $42 million and fiscal 2005 sales and earnings to increase 25%.
Prunier, 43, was senior director for the company's medical products business. He also held management posts at Plexus, SCI Systems and other smaller manufacturers.
He replaces acting chief financial officer Mark Lustig, the company controller who had been serving as interim CFO since Rick Ackel quit the position in January.
White, who has 20 years of experience in technology manufacturing, was senior vice president and CFO of Asyst Technologies, a provider of integrated automation tools for semiconductor and flat-panel display manufacturing. Previously, he was president and chief executive of Candescent Technologies, a developer of field emission display technology.
He also held positions at Zehntel Inc., Burroughs Corp. (now Unisys Corp.) and Digital Equipment Corp.
White has a bachelor's in physics from Brigham Young University and an MBA in finance and operations analysis from the University of Washington.
Under the freshly minted agreements, Niche Tech (2004) will provide services in Thailand, Sigmatek Corp. in Taiwan, SIP Technology Sdn Bhd in central and northern Malaysia, and SIP Technology Pte. Ltd. in southern Malaysia, Singapore and Indonesia.
In a press statement, Speedline president and CEO Pierre de Villemejane touted the firms' experience. "The management and staffs ... represent years of experience in the capital equipment and PCB assembly industries. All are industry veterans who clearly understand the challenges faced by - and are well equipped to deliver the required solutions to - the region's manufacturers."
(Ed.: Click on the respective company names for links to their Web sites.)
The reseach firm predicts revenues will grow 27% this year, to $226 billion. Gartner previously forecast growth of "more than 25%."
The report followed on the heels of an improved outlook for semiconductor tools from the trade group SEMI. It is not clear, however, whether Gartner's report takes into account a recent announcement that Intel Corp. will slash pricing by up to 35%.
In a statement, Gartner said concerns that rising inventories in the supply chain were overstated. "Had the increased inventory been accompanied by a flat or even falling semiconductor market, it would have been of grave concern. In a rising market, increasing inventory levels are normal.
Gartner's research vice president Richard Gordon acknowledged the industry still harbors jitters from the last downturn. "Despite the improving market conditions that semiconductor vendors have enjoyed over the past several quarters and the expectation that revenue growth this year will be close to 30%, this industry upcycle is notable in that few in the industry have felt able to acknowledge it as a boom."
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