SHENZHEN – Electronics manufacturer SinoHub reported second-quarter net sales of $40.9 million, down 6.8% year-over-year.

Net income was $1 million, down 70.6% compared to the same period last year.

Sales in the ICM business segment were $9.2 million, down 30.8% year-over-year.

Net sales from the electronic component sales and supply chain management services segment for the quarter were $31.7 million, up 3.6% compared to the second quarter of 2010.

“Our results were impacted this quarter by a significant decline in sales from our ICM segment, as our largest customer faced inventory issues relating to phones purchased from another supplier.  As a result, this customer was unable to purchase any phones from SinoHub during the second quarter,” said CEO Harry Cochran.
“We have decided to shift the electronic component procurement portion of our ECSS segment to a brokerage model from our current model where we take ownership of components.” 

Net sales for the six months ended June 30 were $78.9 million, down 4.4% compared to the year-earlier period. 

Gross profit for the six-month period was $12.1 million, down 17.7% year-over-year.

WAYNE, NJ – Fisnar has launched a Web-based automated dispensing programming service.
 
The service allows customers to program and confirm an automated dispensing application without having to purchase equipment or allocate engineering time before making an investment.
 
Fisnar’s engineers will help select the right robot and provide integration advice. For more information, visit www.fisnar.com/video-trial.
 
Fisner provides fluid dispensing and dispensing automation systems.

SAN FRANCISCO -- Presentations from a major solar and photovoltaic industry meeting here last month are now available online.

BANNOCKBURN, IL — IPC president Denny McGuirk has resigned to accept a new position as president and CEO of SEMI, effective Nov. 1, the trade group announced today.