News
SURREY, UK - The weakening dollar has had a significant impact on TT Electronics’ profitability, the company says.
The EMS firm said its U.S. electronics component operations have suffered from reduced domestic demand because of overall market softness, while its EMS business has had a stronger second half and the outlook is good for next year.
TT Electronics says its sensor and systems business is seeing consistent demand from German automotive customers, although pricing pressure is impacting revenue. The manufacturer also expects revenue from climate control systems to decline substantially in 2008 as certain programs come to end-of-life.
The company expects similar results in 2008 as in 2007.
The EMS firm said its U.S. electronics component operations have suffered from reduced domestic demand because of overall market softness, while its EMS business has had a stronger second half and the outlook is good for next year.
TT Electronics says its sensor and systems business is seeing consistent demand from German automotive customers, although pricing pressure is impacting revenue. The manufacturer also expects revenue from climate control systems to decline substantially in 2008 as certain programs come to end-of-life.
The company expects similar results in 2008 as in 2007.
ELK GROVE VILLAGE, IL – EMS provider SigmaTron International reported revenues decreased to $42.8 million for the second quarter 2008, down 4.7% year-over-year. Net income decreased to $693,274, down 2% year-over-year.
For the first half of the year, revenues increased 1% to $82.7 million compared to the same period last year.
Net income was $1.52 million, up 36.4% year-over-year.
For the first half of the year, revenues increased 1% to $82.7 million compared to the same period last year.
Net income was $1.52 million, up 36.4% year-over-year.
“Our results were negatively impacted by a delay in launching several new programs with various customers that will be additive to our existing business with them, as well as slowing sales to some of our customers. At this point we believe several of the new programs will start during the third quarter, with continuing production dependent on our customers sell-through of the new product,” president and CEO Gary R. Fairhead said.
FRANKFURT – Germany's electronics industry is expected to post a 3% rise in sales to 184 billion euros ($270 billion) this year, boosted by strong exports and robust domestic investment, industry association ZVEI says.
However, restructuring in communications technology would mean sales would fall short of the 190 billion euros previously forecast.
However, restructuring in communications technology would mean sales would fall short of the 190 billion euros previously forecast.
Sales are expected to rise by more than 4% in 2008, the association said.
WESTCHESTER, IL – Shareholders of Andrew Corp. have approved the company’s merger agreement with CommScope Inc.
PHOENIX – Suntron Corp. announced its 90% stockholder, SUNN Acquisition Corp., has nearly completed all necessary measures to take the EMS provider private.
Suntron intends to delist its common stock from the Nasdaq SmallCap Market. Suntron has not arranged for listing its common stock on another national securities exchange or for quotation of its common stock in a quotation medium. The announcement was first made Oct. 3.
As previously disclosed, Suntron decided to go private through the short-form merger of SUNN with and into Suntron, pursuant to Section 253 of the Delaware General Corp. Law.
Suntron intends to delist its common stock from the Nasdaq SmallCap Market. Suntron has not arranged for listing its common stock on another national securities exchange or for quotation of its common stock in a quotation medium. The announcement was first made Oct. 3.
As previously disclosed, Suntron decided to go private through the short-form merger of SUNN with and into Suntron, pursuant to Section 253 of the Delaware General Corp. Law.
CARLSBAD, CA – A subsidiary of microelectronics bonding OEM Palomar Technologies will partner with electronics manufacturer Vision Manufacturing to offer bare board and EMS services.
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