News
NEWARK, NY – IEC Electronics Corp. announced revenue for the fourth quarter was $9.6 million, up 15.6% year-over-year.
Fourth-quarter net income was $296,000, down nearly 16% compared to the same period in 2006.
For 2007, IEC reported net income of $875,000, up 75% year-over-year. Revenue was $40.9 million, an increase of 44.7% compared to 2006.
CEO W. Barry Gilbert said, “The fourth quarter was negatively impacted by significant product design and test issues related to programs from two new customers, and by inefficiencies associated with the influx of recently hired employees. We estimate that the combined effect of these issues on the quarter’s results was approximately $1 million in sales and upwards of $300,000 in pretax earnings, which we hope to recover during the current fiscal year ... We expect the impact of design and test issues on quarterly performance to lessen as we assimilate the new customers’ products and experience revenue growth.
The military and industrial sectors, respectively, represent 36% and 33% of sales for fiscal 2007 compared with 23% and 25% of sales for fiscal 2006.
… we expect our sales to increase by more than 20% and earnings to increase by as much as 70% from fiscal 2007.”
SCOTTSDALE, AZ – Intel, Nan Ya, Foxconn and a host of other companies are scheduled to speak at a January symposium on halogen-free technology.
Mostafa Aghazadeh, Intel vice president and director of Chandler assembly technology development, and F.Y. Lee, vice president of Nan Ya materials, will keynote the conference.
Topics covered at the symposium will include OEM’s environmental positions and roadmaps, supply chain readiness, and challenges including material availability, cost and reliability.
Intel will host the symposium, which takes place Jan. 15–16, in Scottsdale. IPC is a co-producer.
Among the companies that plan to participate are Dell, HP, Apple, Lenovo, and the U.S. EPA.
To register: http://www.ipc.org/calendar/2008/intel_halogen_free/intel0108-REG.pdf
Mostafa Aghazadeh, Intel vice president and director of Chandler assembly technology development, and F.Y. Lee, vice president of Nan Ya materials, will keynote the conference.
Topics covered at the symposium will include OEM’s environmental positions and roadmaps, supply chain readiness, and challenges including material availability, cost and reliability.
Intel will host the symposium, which takes place Jan. 15–16, in Scottsdale. IPC is a co-producer.
Among the companies that plan to participate are Dell, HP, Apple, Lenovo, and the U.S. EPA.
To register: http://www.ipc.org/calendar/2008/intel_halogen_free/intel0108-REG.pdf
MINNEAPOLIS – The SMTA announced Bill Barthel of Plexus and Dr. Laura Turbini of Research in Motion were re-elected to three-year terms on the association’s board of directors. Bill will serve as VP of technical programs and Laura will continue to serve on the association’s planning committee.
Joe Belmonte of Bose Corp. and Marie Cole of IBM were elected to the planning committee.
Current directors include president David Raby of STI Electronics, VP communications Tom Forsythe of Kyzen; VP membership Jim Kuehn of Tyco Electronics Automation Group; treasurer Dan Baldwin of Engent, and secretary Irene Sterian of Celestia.
Other planning committee members include chairperson Steve Greathouse of Greathouse Solutions; Dr. Ning-Cheng Lee of Indium; and Dr. Denis Barbini of Vitronics-Soltec.
Joe Belmonte of Bose Corp. and Marie Cole of IBM were elected to the planning committee.
Current directors include president David Raby of STI Electronics, VP communications Tom Forsythe of Kyzen; VP membership Jim Kuehn of Tyco Electronics Automation Group; treasurer Dan Baldwin of Engent, and secretary Irene Sterian of Celestia.
Other planning committee members include chairperson Steve Greathouse of Greathouse Solutions; Dr. Ning-Cheng Lee of Indium; and Dr. Denis Barbini of Vitronics-Soltec.
BANGKOK – Top 40 EMS provider Fabrinet has filed a registration statement with the U.S. Securities and Exchange Commission for a proposed initial public offering of its ordinary shares.
ARLINGTON, VA – Electronic component orders dipped slightly in October after rising for four consecutive months, according to the Electronic Components, Assemblies and Materials Association.
The 12-month average, which compares order growth to the previous year, stayed level.
The modest downturn did not create alarm, especially since it was caused primarily by lower results in the first week of October, after which orders rebounded nicely through the end of the month, the ECA reports.
New cars, mobile phones, PDAs, TVs and other consumer items are packing in more components than ever, the ECA says. Sebastien Rospide of consulting firm Decision reported that the newest generation of flat-panel TVs incorporate between 2,500 to 3,000 passive components, while older-style CRTs use anywhere from 300 to 500. Rospide forecasts 8.5% growth in world electronics production this year, which will drive 6.5% growth for electronic components.
ATLANTA – UP Media Group, parent company of Circuits Assembly, announced today that several leading industry suppliers have signed on to exhibit at Virtual PCB, the industry’s first virtual trade show and conference for the PCB design, fabrication and assembly markets, Feb. 12-13.
Exhibiting companies to date include Agilent Technologies, BTU International, Dage Precision Industries Inc., DEK, and EFD.
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