News
HIALEAH, FL -- Simclar Inc.,
a electronics contract manufacturer,
reported September quarter revenue of $16.6 million, up 25.4% from last year. Net income fell to $242,000 versus
$486,000 a year ago.
Excluding the May 1, 2005 acquisition of Simclar (North America), revenue for the quarter would have been $14.9 million, up 11.9%, and net income would have been $353,000.
Excluding the May 1, 2005 acquisition of Simclar (North America), revenue for the quarter would have been $14.9 million, up 11.9%, and net income would have been $353,000.
SIOUX FALLS, SD -- Raven Industries
reported sales rose 11% to a
record $54.1 million over the year-ago period and net income rose 32%
to a record $6.9 million for its third quarter ended OCt. 31.
The company took a $820,000 after-tax writeoff of an acquisition in the prior year; excluding that, the net income grew 14%.
For the quarter, electronic systems sales were down 2% percent to $13.7 million. The division posted operating income of $1.9 million, up 18% from a year ago. Customers requested early delivery of product in the second quarter, which reduced third quarter shipments.
For the first nine months of the year, sales totaled $42.3 million, up 21% from the last year while operating income more than doubled, to $6.9 million.
The company took a $820,000 after-tax writeoff of an acquisition in the prior year; excluding that, the net income grew 14%.
For the quarter, electronic systems sales were down 2% percent to $13.7 million. The division posted operating income of $1.9 million, up 18% from a year ago. Customers requested early delivery of product in the second quarter, which reduced third quarter shipments.
For the first nine months of the year, sales totaled $42.3 million, up 21% from the last year while operating income more than doubled, to $6.9 million.
NEW YORK -- End-market inventories of semiconductors remained low and stable in the September quarter, but
distributors' inventories increased 8%, or $127 million, and 3 days from June.
SG Cowen said that inventories at buyers of semiconductors appear low and stable. Inventories at 49 major semiconductor customers fell in both dollar terms and days on a seqential basis, the firm said.
SG Cowen said that inventories at buyers of semiconductors appear low and stable. Inventories at 49 major semiconductor customers fell in both dollar terms and days on a seqential basis, the firm said.
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