| Simclar Announces June Quarter Sales |
 |
 |
| Written by Mike Buetow | |||
| Thursday, 12 October 2006 09:30 | |||
|
HIALEAH, FL -- Electronics contract manufacturer Simclar Inc. expects June quarter net income of $790,000 on sales of $30.5 million, compared to net income of $510,000 and sales of $21.8 million for the March quarter. The company will restate its 2005 and March quarter 2006 financials due to accounting errors in the company's Mexico subsidiary during 2005. "We recognize the seriousness of this matter relative to internal controls and the integrity of our financial statements," said Sam Russell, chairman and chief executive. "However, these errors do not impact our basic business operations and there is no evidence of fraudulent activity on the part of any employee." "We have re-examined our accounting practices and taken swift action to establish better controls," said Marshall W. Griffin, Jr., chief financial officer. "The restatement only involves accounting errors relating to our Simclar (Mexico), Inc. subsidiary. We have reviewed our other business units and found no similar errors."
|
|||
| Last Updated on Monday, 16 October 2006 11:00 |
Columns
| What’s Driving Electronics Packaging and Assembly Trends? |
Multi-die configurations and a switch to copper wires are rampant, and supercomputers are why. |
| Read more... |
| Bridging at Reflow |
What causes it, and can it be eliminated? |
| Read more... |
Features
| Current Trends in Conformal Coatings |
Custom formulations have become the norm. |
| Read more... |
| The Worldwide Industrial Electronics Assembly Markets Defined |
Test, clean energy and process control represent huge potential for EMS. |
| Read more... |
Search
Search
Login
CB Login
Language
Language
Products
Corelis Releases ScanExpress v. 7.7 Boundary Scan Suite
ScanExpress version 7.7 boundary scan tool suite includes improved constraints handling, support for multi-core devices, and new JTAG Embedded Test support for additional Freescale and Texas...
ScanExpress version 7.7 boundary scan tool suite includes improved constraints handling, support for multi-core devices, and new JTAG Embedded Test support for additional Freescale and Texas...
