News
WASHINGTON -- Sanmina-SCI Corp.
is among five companies awarded contracts from the U.S. Department of Homeland Security's
Domestic Nuclear Detection Office
Overall, $113 million in contracts were issued for human portable radiation detection systems for use at the nation's ports. No information was available as to the size of Sanmina's program.
Overall, $113 million in contracts were issued for human portable radiation detection systems for use at the nation's ports. No information was available as to the size of Sanmina's program.
Other contracts were awarded to Science Application International, Ametek AMT, Target Instruments, and Smiths Detection.
The nuclear detection office anticipates purchasing and deploying about 1,000 handheld systems and 200 backpack systems through the program. There are more than 14,000 handheld devices already in use.
"The portable technology will be used primarily by U.S. Customs and Border Protection officers for secondary screening of cargo to identify and localize radiological material after a primary alarm has been triggered," the nuclear detection office said in a statement.
NANJING, CHINA -- Electronics manufacturer Nanjing Panda Electronics reported third-quarter report sales of 207 million yuan ($26.28 million), up 35.7% from last year.
Earnings rose 84.7% to 36.96 million yuan ($4.7 million) year-over-year.
Year to date, earnings are up 5.6% to 68.1 million yuan ($8.7 million) on revenue of 562 million yuan ($71.3 million), up 14%.
Earnings rose 84.7% to 36.96 million yuan ($4.7 million) year-over-year.
Year to date, earnings are up 5.6% to 68.1 million yuan ($8.7 million) on revenue of 562 million yuan ($71.3 million), up 14%.
CHICAGO -- Cobra Electronics
Corp. , a manufacturer of mobile
communications products, has entered into a
definitive agreement to acquire Performance Products Ltd., a privately
held consumer electronics company based in the U.K. Cobra will pay $21.4 million plus two earnout payments of up to approximately $6.5 million
and $9.3 million, respectively, contingent upon Performance Products'
operating performance for the year ending March 31, 2007 and the fourteen
months ending May 31, 2008.
The acquisition will expand Cobra's product line into the rapidly growing categories of GPS-enabled speed camera detection systems and personal navigation devices.
In a statement, Jim Bazet, Cobra president and chief executive, said, "We are witnessing explosive growth in the use of speed cameras for safety and traffic control throughout Europe and the United States. GPS technology for speed camera detection is legal and, given current trends, we anticipate widespread adoption.
For the fiscal year ended March 31, Performance Products had revenues of $14.8 million and operating income of $1.8 million after adjustment for certain shareholder compensation that will not be paid in the future.
The acquisition will expand Cobra's product line into the rapidly growing categories of GPS-enabled speed camera detection systems and personal navigation devices.
In a statement, Jim Bazet, Cobra president and chief executive, said, "We are witnessing explosive growth in the use of speed cameras for safety and traffic control throughout Europe and the United States. GPS technology for speed camera detection is legal and, given current trends, we anticipate widespread adoption.
For the fiscal year ended March 31, Performance Products had revenues of $14.8 million and operating income of $1.8 million after adjustment for certain shareholder compensation that will not be paid in the future.
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