News
CARLSBAD, CA – Palomar Technologies’ management has bought out the original investor group that spun the company out of Hughes Aircraft in 1995.
Local management, with Palomar for many years, now owns the provider of precision automation equipment and contract assembly services for microelectronics.
No financial terms were disclosed.
“All of our current operations, products, and services will continue unchanged,” said Bruce Hueners, Palomar Technologies president and CEO.
Local management, with Palomar for many years, now owns the provider of precision automation equipment and contract assembly services for microelectronics.
No financial terms were disclosed.
“All of our current operations, products, and services will continue unchanged,” said Bruce Hueners, Palomar Technologies president and CEO.
NEWARK, NY – EMS provider IEC Electronics Corp. reported third-quarter revenue of $11.9 million, up about 5.9% year-over-year. Net profit for the quarter was $868,000, up 36.3% compared to the same period last year.
IEC had revenue of $35 million for the first nine months of fiscal 2008, up 10.6% year-over-year. Net profit for the period was $1.96 million, up slightly more than 70% compared to the same period in 2007.
W. Barry Gilbert, chairman of the board and CEO, stated, “We completed the acquisition of Val-u-Tech, refinanced the company with M&T bank, added two new customers, settled our long-standing lawsuit with GE, and improved our operating profit margins…
We expect our consolidated sales will increase for next quarter to between $14.5 million to $15.5 million…”
NORCROSS, GA – Micromeritics, a manufacturer of analyzers and instruments, has moved into a 140,000 sq. ft. facility that doubles the company’s floor space and added a surface mount line among other equipment.
The machine shop now covers 18,000 sq. ft., and manufacturing has been modernized and expanded to 24,000 sq. ft. The applications development laboratory and Micromeritics Analytical Services have both doubled in size. The training center also has been expanded.
The company plans to purchase new lab equipment and has added personnel.
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