News
MANKATO, MN -- Winland Electronics today announced third-quarter revenues of $9.6 million, up 29.5% from the third quarter 2005. Net income fell 11.8% to
$385,456 compared to last year. Net income increased 33% sequentially.
Gross profit was $1.8 million, or 18.3% of sales, and gross profit margin increased sequentially from 15.1% for the period ended Sept. 30. Operating expenses were stable sequentially and up 16.7% to $1.1 million from last year.
Gross profit was $1.8 million, or 18.3% of sales, and gross profit margin increased sequentially from 15.1% for the period ended Sept. 30. Operating expenses were stable sequentially and up 16.7% to $1.1 million from last year.
Income from operations fell 13.9% to $631,262 versus last year and was up 32% sequentially.
In a press release, Winland chief executive Lorin Krueger said the company was focusing on diversifying its product mix as its major customer, Select Comfort, migrates 50% of its business to a second supplier. That previous announced transition will begin in
mid November.
"During the third quarter, we brought 26 new or revised products online which included product introductions from four new customers. [W]e are optimistic that our continued efforts to diversify our customer and product offerings will offset this loss of the Select Comfort business."
NEENAH, WI -- Plexus Corp. reported record fiscal fourth-quarter net income of $42.6 million on a 23% hike in revenues over last year. For the quarter ended Sept. 30, the EMS firm's sales hit $396.9 million, bringing full year revenues to a record $1.46 billion, a 19% increase
over 2005.
For the quarter, net income was up 305%, including a $17.7 million gain due to tax provisions and a $500,000 loss on the adoption of "FIN 47" concerning conditional asset retirement obligations. Non-GAAP quarterly net income was $25.5 million, a company record for the fourth quarter.
For the quarter, net income was up 305%, including a $17.7 million gain due to tax provisions and a $500,000 loss on the adoption of "FIN 47" concerning conditional asset retirement obligations. Non-GAAP quarterly net income was $25.5 million, a company record for the fourth quarter.
ROCHESTER, MN -- EMS firm Pemstar Inc., in its final days as a standalone company, reported fiscal 2007 second-quarter revenue rose $1.2 million to $212.3
million from last year. Net income was
$3.2 million compared to a
net loss of $13.5
million a year
ago. The prior
year loss from continuing operations includes restructuring
and impairment
charges totaling $7.9 million.
Last month Benchmark Electronics announced it would buy Pemstar in a deal expected to close next quarter.
Last month Benchmark Electronics announced it would buy Pemstar in a deal expected to close next quarter.
WASHINGTON -- The U.S. Department of Justice's antitrust division has subpoenaed Sony's electronics unit for information on its sales of SRAM memory chips. The company expressed its full cooperation with the probe.
The move appears to be part of a growing Justice Department probe into SRAM sales. Earlier this month, Cypress Semiconductor said its SRAM operations were also under investigation.
The move appears to be part of a growing Justice Department probe into SRAM sales. Earlier this month, Cypress Semiconductor said its SRAM operations were also under investigation.
VANCOUVER -- Nam Tai Electronics today reported third-quarter sales rose 5.1% year-over-year to $218.5 million. Operating income fell 11.6% to $12.4 million, and net income plummeted 35.7% to $12.1 million for the period ended Sept. 30.
LONDON -- Schneider Electric will acquire American Power Conversion for $6.1 billion in cash, the companies said Monday. The deal has been approved by APC's board and
is expected to close in the first quarter 2007, pending APC shareholder approval.
The deal will make Schneider the world's largest provider of surge protector equipment.
"APC has always been a strategic target for Schneider. It is a reference brand in the fast-growing segment of critical power and has superb technology," Schneider chief executive Jean-Pascal Tricoire said on a conference call with analysts Monday.
APC had about $2 billion sales in 2005, and employs 7,600 workers.
The deal will make Schneider the world's largest provider of surge protector equipment.
"APC has always been a strategic target for Schneider. It is a reference brand in the fast-growing segment of critical power and has superb technology," Schneider chief executive Jean-Pascal Tricoire said on a conference call with analysts Monday.
APC had about $2 billion sales in 2005, and employs 7,600 workers.
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