Probe Strikes Right Spot
IRVINE, CA -- Probe Manufacturing today reported first-quarter net profits rose 53% year-over-year to $24,729.
The electronics manufacturing services company reported revenue grew 86% to $906,313 for the period ended March 31. Net cash from operations was $228,535, up from $71,042 in the prior year.
“We’re very excited about the performance of our business; our company is firing on all cylinders and the development of our customer base continues to fuel our growth at a remarkable, yet manageable rate,” said CEO Kam Mahdi. “Our business model is allowing our customers to take advantage of lower manufacturing cost through our strategic partnerships overseas, while keeping the bulk of their manufacturing in our California factory and supporting our local economy as our employee base continues to grow.”
The EMS company's customer base has increased to 21 accounts from eight since the fourth quarter 2009. “We’re looking forward to the second fiscal quarter of 2011, as we expect revenue to continue to increase due to the addition of new customers,” said John Bennett, CFO.
