News
MINNEAPOLIS -- HEI, Inc. reported net sales of $55.8 million and net income of $1.1 million for the 16-month period ended Jan. 3.
The company had net profits of $243,000 for the four-month period ended Jan. 3.
The unusual 16-month reporting year (September 2007 to December 2008) came about because HEI modified its fiscal year to end on the Saturday closest to Dec. 31.
HEI had net income of $857,000 for the 12-month period ended Aug. 30, 2008, versus a net loss of $5.7 million the 12-month period ended Sept. 1, 2007.
In a statement, CEO Mark B. Thomas said HEI reported a 16-month period to save on costs of a separate audit for the original 12-month fiscal year and a subsequent four-month period.
The company had net profits of $243,000 for the four-month period ended Jan. 3.
The unusual 16-month reporting year (September 2007 to December 2008) came about because HEI modified its fiscal year to end on the Saturday closest to Dec. 31.
HEI had net income of $857,000 for the 12-month period ended Aug. 30, 2008, versus a net loss of $5.7 million the 12-month period ended Sept. 1, 2007.
In a statement, CEO Mark B. Thomas said HEI reported a 16-month period to save on costs of a separate audit for the original 12-month fiscal year and a subsequent four-month period.
ANKARA, TURKEY -- A massive computer manufacturing plant planned by HP and Foxconn Technology Group is scheduled to commence production by 2010 and will employ about 2,000 workers, the companies said.
BANNOCKBURN, IL --Calling the impact of the RoHS Directive "enormous, expensive and burdensome," IPC is
calling for industry resistance to potential additions to the controversial environmental rules.
MACAO, CHINA -- Nam Tai Electronics today announced that Chan Sze (Anthony) Chung has resigned as acting chief financial officer.
M.K. Koo has been appointed as executive chairman and chief financial officer. Koo is a founder of the Nam Tai Group and has served various senior executive positions over the years.
M.K. Koo has been appointed as executive chairman and chief financial officer. Koo is a founder of the Nam Tai Group and has served various senior executive positions over the years.
TAIPEI -- Hon Hai Precision Industry's (Foxconn) 2008 unconsolidated net profit fell 29% even as its unconsolidated revenue rose 19% to an all-time high of nearly NT$1.5 trillion.
For the year ended Dec. 31, the contract electronics assembler reported net profits of NT$55.13 billion ($1.59 billion) on sales of NT$1.47 trillion ($42.3 billion in today's dollars).
For the year ended Dec. 31, the contract electronics assembler reported net profits of NT$55.13 billion ($1.59 billion) on sales of NT$1.47 trillion ($42.3 billion in today's dollars).
OFAKIM, ISRAEL -- Flextronics
has begun layoffs of about 200 employees at its plant here, according to local reports.
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