TORONTO – Electronics manufacturing services provider SMTC Corp. announced fourth quarter earnings rose 49% to $2.1 million on a 31% spike in revenue to $76.1 million.

For the quarter ended Dec. 31, gross profit was $7.7 million, or 10.1% of revenue, up from $4.9 million (8.4% of revenue).

Full-year revenue rose 15% to $262.8 million, while the company set a net income record of $10.5 million, including one-time items of $5 million, compared with a loss of $100,000 for 2005.

“For the first time since 2000, the company grew year-over-year revenue, reflecting a combination of growth from long-standing customers and the effect of new customer additions in 2005 and 2006,” said John Caldwell, president and chief executive. "As important, SMTC produced seven consecutive quarters of profitability culminating in record net income for 2006."

The full year net income included an income tax refund, gain on a sale of surplus real estate, final proceeds from operations discontinued in 2002 and a net adjustment to restructuring accruals.