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SURREY, UK – TT Electronics’ Integrated Manufacturing Services division reported 2009 revenues of GBP 75.1 million, down 27.4% from a year ago.
The firm’s overall pretax profit for 2009 – which includes its electronics and sensors divisions – was GBP 17.2 million, compared to GBP 17.3 million for the prior year.
"An improvement in the fourth quarter has continued into the first two months of 2010," said chief executive Geraint Anderson.
TT Electronics also said order growth in the fourth quarter has continued into the current quarter.
US$1 = GBP 0.6579
MINNEAPOLIS -- Nortech Systems today reported fourth-quarter net sales of $19.8 million, down 26.7% from a year ago.
GLENVIEW, IL -- Illinois Tool Works today reported operating revenue rose 10% year-over-year for the quarter ended Feb. 28. Its Power Systems and Electronics group, which includes Kester Solder, Speedline and Vitronics-Soltec, reported sales grew 5.4%.
SALT LAKE CITY -- CirTran Corp. has transferred its open and active purchase orders relating to its contract electronics manufacturing business to a new ownership group led by its former COO.
TAIPEI – Foxconn Electronics (Hon Hai Precision Industry) posted February revenues of $3.83 billion, up 46.8% year-over-year.
That’s according to a new report from Barron’s. The financial media outlet believes OEMs will slowly but steadily move programs to EMS companies over the next several years.
Each segment should add 2.5% in incremental growth to the EMS sector over the next two years, Barron’s says. Coupled with macro demand forecasts, plus incremental gains for consumer electronics cellphones (another 2.5%), and the industry growth rate should reach 10%.
Furthermore, the company says, this revenue will come with higher margins than past outsourcing programs. While the industry at large tries to buck 3 to 3.5% operating margin, the new revenue sources should have 10% to 20% incremental operating margin, Barron’s says.
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