| Global Innovation Sees Fiscal 2008 Sales Rise |
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| Written by Mike Buetow | |||
| Thursday, 23 October 2008 05:59 | |||
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WYLIE, TX – Global Innovation Corp., provider of bare boards and contract assembly services, reported fiscal 2008 sales of $33.5 million, up 1.6% over 2007. Gross profits rose 14% to $7.2 million, while net income was up 93% to $348,000. The higher sales were primarily attributable to new customers and partially offset by a sales decline at GIC’s largest customer. The higher gross profit was tied to a shift to higher technology products, and lower pricing pressures. Gross margins rose 240 basis points to 21.5% in 2008.
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