News
PHOENIX -- Hurt by the loss of a key customer, Suntron Corp.,
a provider of electronics manufacturing services, today reported a net loss of
$6.2 million as net sales slipped 18% to $82.7 million in its fiscal first quarter.
The results include $400,000 of restructuring charges related to severance, retention and lease exit costs.
The results include $400,000 of restructuring charges related to severance, retention and lease exit costs.
Sequentially, net sales decreased $33.1 million, or 29%.
The decline was primarily due to the loss of Applied Materials, Suntron said.
SAN JOSE -- Michael E. Marks will step down early next
year as chief executive of Flextronics
International Ltd. He will be replaced by Michael McNamara, the
company's chief operating officer.
Marks told analysts in San Francisco on Thursday that he will become chairman of the company on Jan. 31, 2006.
Flextronics, the world's largest EMS provider, also announced several charges associated with restructuring and refinancing the balance sheet.
Marks told analysts in San Francisco on Thursday that he will become chairman of the company on Jan. 31, 2006.
Flextronics, the world's largest EMS provider, also announced several charges associated with restructuring and refinancing the balance sheet.
TORONTO -- SMTC Corp., a global electronics manufacturing services provider, today
reported revenue of $49.1 million for the first quarter ended April 3, up 2% from last quarter but down from $69.4
million a year ago.
The net loss was $2.6 million, compared with a net loss of $3.2 million sequentially and a net loss of $47,000 last year.
Gross profit was $2 million, or 4.1% of revenue, compared with $1.5 million, or 3.1% of revenue, for the previous quarter and $6.8 million (9.9% of revenue) for the first quarter 2004. Gross profit was affected by higher costs for training and resource retention as well as freight costs for transferring certain programs to the company's Mexico facility.
In a press release, John Caldwell, president and chief executive, said, "Although overall first quarter results remain below satisfactory levels, the company achieved modest revenue growth in what we believe is a typically soft quarter. Importantly, in the quarter SMTC added several new customers as well as gained a number of new program wins with current customers."
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