News
REDMOND, WA – Data I/O Corp. announced the sale of selected patents and patent applications to Leannoux Properties AG for approximately $3.3 million.
The company expects a net gain of approximately $2.1 million, subject to customary closing conditions.
The proposed patents and applications to be sold relate primarily to technology used in Data I/O's Proline RoadRunner line. The company will retain a nonexclusive, royalty-free license.
The agreement includes customary representations and warranties for a transaction of this nature, including without limitation, representations and warranties regarding authority, title and validity.
The sale does not include technology related to the firm's most recent development programs.
Leannoux Properties is an unrelated party with no other material relationship to Data I/O.
The company expects a net gain of approximately $2.1 million, subject to customary closing conditions.
The proposed patents and applications to be sold relate primarily to technology used in Data I/O's Proline RoadRunner line. The company will retain a nonexclusive, royalty-free license.
The agreement includes customary representations and warranties for a transaction of this nature, including without limitation, representations and warranties regarding authority, title and validity.
The sale does not include technology related to the firm's most recent development programs.
Leannoux Properties is an unrelated party with no other material relationship to Data I/O.
VANCOUVER – Moventis Capital announced delays with the completion of its first U.S. GAAP audit of recently acquired EMS provider PTL Electronics Ltd., which is required to file consolidated annual statements for Moventis.
Moventis is working with auditors to complete the audit for its 10-KSB and a review of its 10-QSB for the period ended Sept. 30.
On Oct. 22, the company received an OTCBB Delinquency Notice from FINRA, advising the company of the 30-day grace period under the National Association of Securities Dealers Rule 6530 until Nov. 15.
Moventis has been unable to complete the referenced filing within the grace period, and as such will be removed from trading on the OTCBB until the filings are made current, and a NASD Form 211 is filed with the SEC on its behalf by a NASD market maker or broker/dealer to resume quotation on the OTCBB.
Moventis has identified a NASD market maker for the Form 211 filing for reinstatement with the OTCBB once the flings are completed.
Until such time as the periodic reports are current and the Form 211 has been approved, Moventis' stock will continue to trade on the Pink Sheets under the symbol MVTS.
Moventis is working with auditors to complete the audit for its 10-KSB and a review of its 10-QSB for the period ended Sept. 30.
On Oct. 22, the company received an OTCBB Delinquency Notice from FINRA, advising the company of the 30-day grace period under the National Association of Securities Dealers Rule 6530 until Nov. 15.
Moventis has been unable to complete the referenced filing within the grace period, and as such will be removed from trading on the OTCBB until the filings are made current, and a NASD Form 211 is filed with the SEC on its behalf by a NASD market maker or broker/dealer to resume quotation on the OTCBB.
Moventis has identified a NASD market maker for the Form 211 filing for reinstatement with the OTCBB once the flings are completed.
Until such time as the periodic reports are current and the Form 211 has been approved, Moventis' stock will continue to trade on the Pink Sheets under the symbol MVTS.
TAMPA – Sypris Electronics LLC, a subsidiary of ODM Sypris Solutions Inc., has received a Defense Department order worth up to $125 million over four years to make cryptocards.
The company describes a cyptocard, known as KOV-21, as a Personal Computer Memory Card Information Security Card.
SYDNEY – EMS provider GPC Electronics announced plans to establish a factory in Shenzhen to manufacture electronics products. Setup in China will be completed by January, and initial volume production is scheduled for March.
MAPLE GROVE, MN – By 2011, the automotive connector market will reach $12.36 billion, according to a leading researcher on connectors.
Last year, the world connector market totaled $39.95 billion, Bishop & Associates Inc. reports.
Automotive is the largest market for connectors, with sales of $9.62 billion, or 24% of all connectors sold worldwide, the researcher says.
Two major factors drive automotive connector sales: higher volumes of vehicles sold and increased electronics content per vehicle.
The North American connector market will grow in the low single digits, but emerging economies, such as China and elsewhere, will achieve double-digit or near double-digit growth, Bishop adds.
Approximately 65% of automotive connector growth will come from an increase in the number of vehicles manufactured. The other 35% will come from increased electronics content per unit. Bishop estimates an average connector value of $153 per vehicle manufactured in 2006.
In emerging economies, connector content will fall below the $153 world average. In mature developed economies, connector content can reach well over $200 per vehicle.
The increase in electronics content comes from comfort, entertainment, navigation, and instrumentation applications within the vehicle.
Last year, the world connector market totaled $39.95 billion, Bishop & Associates Inc. reports.
Automotive is the largest market for connectors, with sales of $9.62 billion, or 24% of all connectors sold worldwide, the researcher says.
Two major factors drive automotive connector sales: higher volumes of vehicles sold and increased electronics content per vehicle.
The North American connector market will grow in the low single digits, but emerging economies, such as China and elsewhere, will achieve double-digit or near double-digit growth, Bishop adds.
Approximately 65% of automotive connector growth will come from an increase in the number of vehicles manufactured. The other 35% will come from increased electronics content per unit. Bishop estimates an average connector value of $153 per vehicle manufactured in 2006.
In emerging economies, connector content will fall below the $153 world average. In mature developed economies, connector content can reach well over $200 per vehicle.
The increase in electronics content comes from comfort, entertainment, navigation, and instrumentation applications within the vehicle.
VANCOUVER – EMS provider and ODM Northstar Electronics reported third-quarter revenues of $688,228, up nearly 40% year-over-year.
The company cut its quarterly loss 72% to $45,605 over 2006.
Year-to-date revenues were $1.3 million, down 6.3% year-over-year. The company incurred a year-to-date net loss of $454,102, down 9.4% compared to last year.
Northstar provides EMS services and builds sonar technology for security and defense customers. During the quarter, Northstar continued work on two Lockheed Martin contracts. Sales for commercial product were also higher sequentially as result of higher demand in Europe, Northstar reports.
“The increasing contract revenues and increasing product sales resulted in an improvement in overall revenues and a significant reduction in the quarterly loss. We expect to see increasing revenues and an improved bottom line in the ensuing quarters ahead,” CEO Wilson Russell said.
The company cut its quarterly loss 72% to $45,605 over 2006.
Year-to-date revenues were $1.3 million, down 6.3% year-over-year. The company incurred a year-to-date net loss of $454,102, down 9.4% compared to last year.
Northstar provides EMS services and builds sonar technology for security and defense customers. During the quarter, Northstar continued work on two Lockheed Martin contracts. Sales for commercial product were also higher sequentially as result of higher demand in Europe, Northstar reports.
“The increasing contract revenues and increasing product sales resulted in an improvement in overall revenues and a significant reduction in the quarterly loss. We expect to see increasing revenues and an improved bottom line in the ensuing quarters ahead,” CEO Wilson Russell said.
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