EINDHOVEN, THE NETHERLANDS – Neways Electronics reported third quarter net revenue of €126 million (US$142.6 million), an increase of 16% year-over-year.

In the first nine months of 2018, revenue was €373 million, up 15.6% compared to the same period last year.

The firm attributes the growth to strong demand from the semiconductor and automotive sectors.

Orders were down in the third quarter, Neways said, and growth potential was not fully realized as a result of persistent component shortages.

Ed.: €1 = US$1.13