News
KRAKOW, POLAND – Note has agreed to acquire half the shares of a new joint venture with Polish EMS provider Fideltronik.
Arne Forslund, Note’s CEO and president said, “Our joint venture will be based at Fideltronik’s current plant in Krakow and will have some 220 employees. The acquisition brings us access to additional cost-efficient production capacity in Poland that complements our other international facilities in the Baltic States and China.”
No other terms of the agreement were disclosed.
SPOKANE VALLEY, WA – EMS provider Key Tronic Corp. reported total revenue of $44.6 million in the first quarter of 2008, down nearly 20% year-over-year.
Net income for the quarter was $200,000, a decrease of close to 86% compared to the same period in 2007.
“As anticipated, we saw slower demand from a number of our established customers in the first quarter of fiscal 2008, while our new programs contributed a growing portion of our revenue,” said Jack Oehlke, president and CEO. “We expect both our established customers and our new customer programs to drive strong revenue and earnings growth in the second half of fiscal 2008.
For the second quarter, the company expects revenue in the range of $45 million to $48 million.
SAN JOSE, CA – Global EMS provider Sanmina-SCI Corp. reported revenue of $2.5 billion for the fourth quarter of 2007, flat with revenue in the third quarter, and down 7.4% year-over-year.
Year-end revenue was $10.4 billion, down 5.4% compared to 2006.
Net income for the fourth quarter was $10.2 million, compared to a net loss of $22.8 million sequentially, and a net loss of $2.1 million year-over-year.
Net income for the year was $22.8 million, down about 78% compared to the prior year.
Gross profit was $134.1 million, up 10.3% sequentially and 2.3% year-over-year.
The company expects first-quarter 2008 revenue in the range of $2.5 billion to 2.65 billion.
MANKATO, MN – Winland Electronics Inc., designer and manufacturer of custom electronic control products and systems, announced CEO Lorin Krueger’s resignation, effective Jan. 2, at which time he will aid the company’s board of director’s in identifying his successor.
SAN JOSE – Global microchip sales in September were $22.6 billion, an increase of 5.9% year-over-year, the Semiconductor Industry Association reports. Sales were up 5% sequentially.
LOS ALTOS, CA – Driven by strong economic conditions and a continuing wireless boom, world communication equipment production bounded ahead by 12.6% during 2006, according to the latest Henderson Ventures forecast.
However, slower economic growth and a tail off in the mobile communication sector will create a sharp deceleration in equipment growth this year, the firm says.
Global output is expected to increase by only 6%. However, this year’s loss of momentum represents something of a timeout rather than a fundamental change in the fortunes of the communication sector, Henderson reports. In fact, growth rates will accelerate once again, reaching a 10.1% pace in 2009.
Handset growth to ease the mobile telephone industry, including handsets and infrastructure, will be hitting a fundamental roadblock within the next few years, as the number of new subscribers dwindles because of market saturation among global consumers who can afford a subscription, the company says.
And given the forecast for a gradual leveling of the subscriber base, the handset forecast also calls for a slowdown. It is believed that the age of 20+% growth rates are behind us. However, growth rates in the vicinity of 10% through 2009 can be expected.
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