MUNICH – Katek announced revenue of €200.4 million ($217.8 million) for the first quarter, a 26.4% increase from the same quarter of 2022.

The company's Electronics segment reported revenue of €163.7 million ($177.9 million) compared to the €135.5 million ($147.2 million) in last year's first quarter, while its Systems & Products segment reported €47.5 million ($51.6 million) in revenue compared to €33.2 million ($36.1 million) in Q1 of last year. The company said further growth is also due to the consolidation of the Canadian EMS provider SigmaPoint, which Katek acquired last August.

The company has also signed a purchase agreement to acquire Nextek in Madison, WI, and Katek said it expects that deal to be completed at the end of the second quarter or beginning of the third. The two acquisitions will open the company to further business in Canada and the US, particularly with the continued effort to relocate production away from China, Katek said.

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