SMTC Q3 Revenue Up 71% YoY PDF Print E-mail
Written by Chelsey Drysdale   
Thursday, 08 November 2012 17:10

TORONTOSMTC reported third-quarter revenue of $75.6 million, up 71% year-over-year, and up slightly sequentially.

Net income for the September period was $1.3 million, up from a loss of $1.28 million a year ago. Adjusted EBITDA was $2.6 million, up 271.4% compared to the third quarter of 2011, and down 40% sequentially.

The electronics manufacturing services firm said its third-quarter results included $429,000 in nonrecurring costs in China related to the acquisition of assets from Alco Electronics. The results also include $303,000 in severances and terminations incurred in response to reduced revenue levels in its Canadian manufacturing operation.

Bank debt levels increased to $28.9 million, from $25.4 million in the second quarter, the firm says.

“Overall, the third quarter was weaker than expected. We have initiated Lean manufacturing initiatives in our Mexican operation in order to improve quality, consistency and planning. We are also reviewing our Canadian operations in order to improve profitability,” said co-CEO Alex Walker.

SMTC tightened its 2012 EBITDA guidance to $14 million to $15 million, at the lower end of its previous range, due to a record number of new program introductions and an expected $500,000 in restructuring charges. It guided for fourth-quarter sales of $70 million to $77 million in revenue.

 

Columns

Eastern-US: China’s New Competitor?

Parity emerges among EMS Factories from Asia, Mexico and the US.

For the first time in years we see parity in the Eastern US among EMS factories from Asia, Mexico and the US. This EMS market condition will permit American OEMs (the EMS industry refers to OEMs as customers) to have more EMS pathways to choose from. Now more than ever, such EMS assignments will require deeper investigation relating to the OEMs’ evaluation of manufacturing strategies.

Read more...
 
The Human Touch

For those who count on the electronics industry for big feats, it’s been a remarkable couple of years.

Read more...
 

Features

Advances in Concentration Monitoring and Closed-Loop Control

Contaminated bath water skews refractive index results. New technology can accurately measure aqueous cleaning agent concentration.

Read more...
 
Circuits Disassembly: Materials Characterization and Failure Analysis

A systematic approach to nonconventional methods of encapsulant removal.

Read more...
 

Search

Search

Login

CB Login

Language

Language

English French German Italian Portuguese Russian Spanish
 

Products

KIC Debuts K2 Thermal Profiler
K2 thermal profiler has plug-and-play hardware and a graphical user interface said to make profiling both quick and easy. Enables each thermocouple to use its own unique process window, while...