News
MELVILLE, NY – Nu Horizons Electronics said net sales from continuing operations for the fourth quarter were $193.18 million, up 24.3% compared to last year. Sales in its core components distribution business increased 28.2%.
Net income for the quarter was $424,000, down almost 19% year-over-year.
For the fiscal year ended Feb. 29, revenues increased to $747.2 million, up 11.8% year-over-year. Distribution sales increased 20.1%. Net income was $2,519,000, down 67.4% from the same period last year.
Chairman and CEO Arthur Nadata said, “We are executing well on our sales growth strategy with 42% growth in Asia, 106% in Europe and 11.8% total sales growth year-over-year. We continue to invest in Germany and expect this to fuel future growth in Europe.”
Professional fees continue to adversely affect earnings, he said.
ALAMEDA, CA – A leading EMS research firm lowered its five-year forecast for electronics production and EMS growth, saying, “economic drivers behind the numbers are a clear signal that the U.S. is in a recession.”
TALLIN, ESTONIA – Elcoteq will layoff or reduce the pay of up to 330 workers in its facilities here, the company said.
BEIJING – China’s electronics exports are up 27.9% through April versus a year ago, the nation’s commerce ministry said.
Imports of machinery and electronics products were up 17.8% year-over-year, and comprise 47.3% of all imports by value.
NEWPORT, SOUTH WALES – TT Electronics said it would integrate its five manufacturing services businesses into a single division, creating the UK’s largest – and the world’s 25th largest – EMS company.
The combined business unit features some 460,000 sq. ft. of manufacturing space and 1,500 staff with sites in Perry, OH; Rogerstone and Aylesbury, UK; Suzhou; and Kuantan, Malaysia.
In a statement, TT Electronics chief executive Neil Rodgers said, “Our integrated manufacturing services division offers high-volume services to customers manufacturing low to medium volumes. These include not only a choice of manufacturing location, to fit the profile of technical skills, quality accreditation and cost environment associated with each project, but also a service package that can extend right out to a fully outsourced logistics organization.”
JACKSON, MI – EMS provider Sparton Corp. reported sales for the fiscal third quarter of 2008 totaled $58.14 million, up 21.8% year-over-year.
The company reported net income of $634,000 for the third quarter, compared to a net loss of $2.29 million last year.
An operating loss of $424,000 was reported for the fiscal third quarter, compared to an operating loss of $3.69 million in the same quarter last year.
Medical/scientific instrumentation sales increased $4.28 million from last year, partially a result of new customer programs, the firm said. In addition, higher demand from three existing customers contributed $3.44 million of the increase.
Aerospace sales were up $2.8 million from prior year in part because of increased sales to an existing customer of $1.07 million.
Government sales continue to be significantly above 2007, with an increase of 80.9%, as a result of sonobuoy testing. However, industrial/other sales declined $2.4 million because of lower demand from one customer.
Sales for the nine months ended March 31 totaled $171.9 million, up 15.3% from the same period last year.
The company reported a net loss of $2.65 million for the fiscal year to date, versus a net loss of $6.14 million for the corresponding period last year.
Medical/scientific instrumentation sales increased $12.2 million. Aerospace sales were up slightly from prior year, primarily due to increased sales to one existing customer of $1.77 million.
Government sales for the period increased 92.9% year-over-year. Industrial/other sales declined $11.12 million.
The company reported net income of $634,000 for the third quarter, compared to a net loss of $2.29 million last year.
An operating loss of $424,000 was reported for the fiscal third quarter, compared to an operating loss of $3.69 million in the same quarter last year.
Medical/scientific instrumentation sales increased $4.28 million from last year, partially a result of new customer programs, the firm said. In addition, higher demand from three existing customers contributed $3.44 million of the increase.
Aerospace sales were up $2.8 million from prior year in part because of increased sales to an existing customer of $1.07 million.
Government sales continue to be significantly above 2007, with an increase of 80.9%, as a result of sonobuoy testing. However, industrial/other sales declined $2.4 million because of lower demand from one customer.
Sales for the nine months ended March 31 totaled $171.9 million, up 15.3% from the same period last year.
The company reported a net loss of $2.65 million for the fiscal year to date, versus a net loss of $6.14 million for the corresponding period last year.
Medical/scientific instrumentation sales increased $12.2 million. Aerospace sales were up slightly from prior year, primarily due to increased sales to one existing customer of $1.77 million.
Government sales for the period increased 92.9% year-over-year. Industrial/other sales declined $11.12 million.
