HIALEAH, FL -- Simclar, Inc., a electronics contract manufacturer, reported 2004 revenue of $53.6 million, up 48% from $36.2 million in 2003.

Pre-tax income rose 134% to $3.4 million. Net income was $2.3 million, up from $1.1 million.

More than half (57.3%) of the revenue increase was attributable to the July 2003 acquisition of a plant in Mexico.

The company's largest markets were computer peripherals ($5.1 million) and instrumentation ($4.3 million). About 43% of sales were made to five customers, with Illinois Tool Works, at 17%, the only one that accounted for more than 10%.

In a press statement chairman Sam Russell said, "The progress in the area of cost containment made in previous years flowed through to the realization of record earnings in 2004. We were able to make some adjustments in the second half of the year even as raw materials costs were on the increase. We will continue to be vigilant in the area of cost containment, and we initiated programs in the latter part of 2004 to partner with suppliers who will work with us to decrease delivered materials costs.

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