TORONTO – SMTC Corp. reported fiscal fourth quarter revenue of $42.2 million, up 109.3% year-over-year, with $23.5 million attributable to the MC Assembly acquisition.

The net loss was $1.2 million, versus a loss of $900,000 in 2017. Adjusted EBITDA was $5.3 million, up 342% year-over-year.

Net debt at the end of the quarter was $92.3 million, compared to $14.7 million at the end of 2017.

On a pro forma basis, assuming MC Assembly had been part of SMTC for 12 months in 2018 and 2017, the combined revenue of both companies in 2018 would have been $345.2 million, up 22.6% from 2017. Adjusted EBITDA was $10.2 million, compared to a loss of $1.5 million in fiscal 2017.

“Our 2018 results reflect the commitment and rigorous actions we have taken in the past six quarters to relaunch the company, said president and CEO Ed Smith. “Our efforts have resulted in year-over-year organic growth of nearly 50%, driven by exceptional customer retention, new program wins at existing customers and the addition of new customers.”

SMTC expects fiscal first quarter revenue between $96 million and $100 million. Adjusted EBITDA is expected to be $5.3 million to $5.8 million.