HARTLEPOOL, UK – Electronic manufacturing services company Stadium Group reported 2008 revenues rose 17% to £47.6 million and pretax profits were up 5% to £2.78 million, aided by the acquisition of Zirkon Ltd. Operating profits from Stadium Electronics and its subsidiary Stadium Power were above 25%.
Net cash flow was down 15% to £4.12 million for the year.
Chief executive Nigel Rogers said customer
demand and visibility have been weak as 2009 gets underway. "We have
experienced weakening of customer demand in the opening few weeks of 2009, and
these conditions are expected to prevail in the short term. The full extent of
the global downturn and its impact on manufacturers worldwide is as yet
unclear. “
On Oct. 31, the Stadium acquired EMS provider Zirkon, and said today the integration
of its operations “is progressing very well.”
1 GBP (£)= 1.41297 US$
KUALA LUMPUR -- Flextronics International will close its factory in Shah Alam, putting nearly 1,400 employees out of work, Reuters reported today.
TAIPEI -- Hon Hai (Foxconn) and IBM reportedly are set to sign a pact to codevelop environment-friendly products.
HELSINKI -- Months after watching Apple steal its thunder in the 3G market, Nokia is readying to return the favor.
Nokia CEO Olli-Pekka Kallasvuo said the world's largest cellphone maker plans to enter the laptop market to capitalize on trends toward cellphone and PC convergence.
According to a report last week by Citigroup, Nokia's first computer will launch in the first half of 2010. The PC, either a netbook or a PC tablet, will probably feature an Intel Atom microprocessor and Linux operating system, Citigroup said. The analyst believes Nokia will outsource production to Compal Electronics or Hon Hai (Foxconn).
Netbooks -- low-cost, stripped-down PCs with minimal software and processing power -- are the fastest-growing segment of the PC market, according to several research firms.
BINGHAMTON, NY – A Universal Instruments spokesperson is disputing a published report in an online newsletter claiming the company has been sold and is being liquidated.
The March 3 edition of CircuitNet claimed, “It appears that Francisco Partners has sold the company to Patriarch Partners LLC, a private equity investment firm.” The story further asserted that Patriarch “is currently managing the day-to-day activities within the company and plans to sell off assets.”