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YAVNE, ISRAEL – Orbotech Ltd. reported revenues for the first quarter totaled $100.5 million, up 14.3% year-over-year, and down about 3% sequentially.

Net income was $3.7 million, compared to a net loss of $1.1 million in the fourth quarter, and net income of $5.6 million in the same period of 2007.

Sales of equipment to the PCB industry, relating to assembled PCBs, were $8.1 million, down 2.4% sequentially, and up 16% year-over-year.

CEO Rani Cohen said, “Our financial results for the quarter, particularly in our PCB business, reflect the challenging global economic environment. On the other hand, we continue to benefit from the strength in the LCD industry, which has led to large orders from LCD manufacturers. Given the ongoing weakness of the dollar, we are continuing to monitor our expenses very closely in order to maintain and improve margins.”

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.”

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.”