TORONTO – SMTC reported fourth quarter revenue of $39.7 million, down 34.7% year-over-year.

For the quarter ended Jan. 1, the EMS firm posted a net loss of $576,000, compared to net earnings of $794,000 for the comparable period in 2015. The operating loss was $203,000, compared to operating earnings of $1.3 million the previous year.

“We were able to generate cash flow from operations, manage working capital and reduce debt,” said CFO Roger Dunfield.

Fiscal 2016 revenue was $167.9 million, down 23.9% year-over-year. The loss of two customers in the industrial sector represented a decrease of $33.3 million in revenue. SMTC recorded a net loss of $232,000, compared to a net loss of $4,000 in 2015. Operating earnings were $843,000, a decrease of 54.5%.

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