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DOWNERS GROVE, IL – Dover Corp. said first-quarter revenue was $2 billion, up 24% over the prior-year period.
Net earnings were $194.9 million, up 80.3% compared to the same period of 2010.
Earnings from continuing operations were $183.3 million, up 51% year-over-year.
“Revenue, earnings, bookings and backlog were all up significantly over the prior year. Revenue growth of 24% was above our expectations and largely driven by improving end-markets served by Industrial Products and a very strong energy market. We closed four acquisitions during the quarter, the largest being Harbison-Fischer, and our companies continued to record solid order rates through the first quarter, resulting in a strong book-to-bill of 1.15,” said president and CEO Robert A. Livingston.
The firm expects full-year 2011 revenue growth of 12% to 14%.
Dover provides components, equipment, specialty systems and support services for applications in the industrial products, engineered systems, fluid management and electronic technologies markets.
SAN JOSE – March orders at North America-based semiconductor equipment manufacturers rose 21.6% over last year to $1.62 billion, SEMI said.
TORONTO -- Celestica will add 400 workers to its local workforce to meet higher demand, the company said yesterday.
SHANGHAI – Jabil Defense and Aerospace Services today said it intends to offer aerospace customers manufacturing services here in 2011.
The facilities will offer aerospace electronic design and secure manufacturing services, rapid prototyping, compressed timelines for design-to-market production, and customer-focused work cells.
AS 9100 and NADCAP certifications are expected before the end of 2011.
NEENAH, WI – Contract manufacturer Plexus Corp. reported record fiscal second-quarter revenue of $568 million, up 15.7% compared to the same period in 2010.
TORONTO – Celestica reported first-quarter revenue of $1.8 billion, up 18.4% year-over-year, within company guidance.
TORONTO – Celestica said it has agreed to acquire the semiconductor equipment contract manufacturing operations of Brooks Automation for approximately $80 million.
Brooks Automation specializes in manufacturing mechanical equipment and providing systems integration services for semiconductor equipment manufacturers. Capabilities include the production of equipment frontend modules for wafer handling and transportation, vacuum transfer modules and sub-systems for semiconductor capital equipment OEMs.
The business generated revenue of approximately $135 million for the six months ended Mar. 31, and currently employs approximately 450 people.
The purchase will be financed from either Celestica’s credit facility or from cash on hand. The closing date is anticipated to be in the second quarter. The operations' senior management team and employees will join Celestica upon completion of the agreement.
No other financial terms of the agreement were disclosed.
