VANCOUVER, Jan. 10 -- Nam Tai Electronics Inc. reported fourth-quarter sales rose 40% to $150 million, a new record and ahead of the company's Oct. 29 guidance of $135 million.

December sales topped $55 million, up 70% year-on-year, and also beating the EMS provider's previous monthly high set in June 2004.

For the year, sales topped $530 million, up 30% over 2003 sales.

The company attributed the growth to FPC subassemblies, CMOS sensor modules for mobile phones and LCD modules.

Joseph Li, chief executive said in a press release, "We are extremely pleased with the sales, which exceeded our original upper guidance. High oil prices and a strong yen has resulted in greater outsourcing, especially by Japanese manufacturers during the period, which resulted in additional orders from our customers.

The company has factories expected to come online after March.

The company also stated that chief financial officer Charles Wong and his assistant, Joseph Silva, have resigned for personal reasons. Both were in their probationary periods. Li will assume the CFO position on an interim basis.

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