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Written by Mike Buetow
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Wednesday, 18 November 2009 10:59 |
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TORONTO -- Adeptron Technologies reported third-quarter sales decreased 2% from last year to $9.4 million.
The EMS company swung to a net loss of $1.14, down from a profit of $104,000 last year. Gross margin for the period ended Sept. 30 declined on product mix and a stronger Canadian dollar. Sales were down 24% sequentially, in contrast to a trend in which sales at many EMS companies improved sequentially in the September quarter. In a press statement, president and chief executive Michael Marti said, "This downturn, as it related to the electronics industry specifically, was the worst in 25 years. Customers reduced demand levels in response to end-market softness and also made significant inventory corrections. Sales from our largest customers continued to be strong and combined with sales from new customers helped to cover some of the shortfall from other existing customers." He added that the improving economy is expected to positively impact the company's fourth quarter, and the company expects "firming of end-user demand throughout 2010." During the quarter, Adeptron added a new high-speed surface mount line in its Ottawa facility.
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Last Updated on Wednesday, 18 November 2009 11:08 |
