SON, THE NETHERLANDS – Neways Electronics recorded net third quarter sales of EUR 96.5 million, flat year-over-year, with higher sales from the semiconductor, automotive and defense sectors offset by lower demand from medical.

Year to date sales are up 3.1% to EUR 294.4 million.

Orders increased 3.8% in the period over the same quarter last year, and are up 8.8% overall in 2016. Backlogs stood at EUR 184.6 million, compared to EUR 161.8 million at end of September 2015, and the book-to-bill ratio was 1.06.

The year-on-year increase in orders was largely due to new orders in the automotive, semiconductors and defense sector and reflects a longer-term visibility, the company stated.

“During the quarter further progress was made with the implementation of our medium- term operational excellence program which we initiated in the second half of 2015," CEO Huub van der Vrande said. "Important steps were taken in key areas as improvement of customer intimacy, standardization of component procurement processes and supplier reduction. As we recognize meaningful enhancements in our organizational efficiency, most of the impact of our efforts in performance are anticipated to become visible in the course of 2017 and the years after. We are fully committed to become the trusted technology partner of our customers at every stage of their products’ life cycle."

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