Adeptron Cuts Losses on Sales Jump
TORONTO -- EMS firm Adeptron Technologies reported its fourth-quarter net loss shrank to $345,000 from $1.45 million for the period ended Dec. 31.
Sales for the quarter rose 41.6% to $12.2 million. Gross margin was 8.9%, versus a negative 2.1% last year.
For the year, sales were up 24% to $47.2 million. The net loss, which includes charges for the shutdown of its San Jose electronics manufacturing services site, was $3.4 million, a slight improvement from a loss of $3.9 million last year. Gross margin increased 180 basis points to 7.1%.
After experiencing problems with component supply that in some cases cost it orders, Adeptron said most component lead times are back to normal levels. The printed circuit board assembler said it is focused on increasing its share in the medical and military/aerospace market segments.
Ed. Adeptron has changed its reporting currency to US dollars from Canadian dollars, effective immediately.
