News
Anaheim, CA -- DDi Corp. reported first quarter 2005 sales of $44.9 million, up 2% sequentially but down 7% year-on-year.
The decrease is related to a reduction in the number of PCB layers shipped, reflecting a softer market. Partially offsetting the decline in PCB sales was a $1.8 million increase in net sales from the quick-turn assembly operation.
Despide the limited PCB growth, president and CEO Bruce McMaster added that March PCB bookings were at their highest level since October 2003.
Gross profit for the quarter was $8 million, up from $5.6 million for the first quarter 2004, due to a $6 million decrease in non-cash compensation charges and intangibles from the prior year. Excluding non-cash charges, adjusted gross profit increased sequentially by $0.5 million on the $0.9 million increase in sequential net sales.
The company reported net income of $9.7 million from discontinued operations, primarily due to a $11.1 million non-cash gain on the disposition of DDi Europe.
DDi announced that it will close its Arizona plant to shift production of mass lamination cores back to its four North American PCB plants. It is also closing is Corporate Support Center in Colorado Springs to streamline operations from its Anaheim headquarters.
The decrease is related to a reduction in the number of PCB layers shipped, reflecting a softer market. Partially offsetting the decline in PCB sales was a $1.8 million increase in net sales from the quick-turn assembly operation.
Despide the limited PCB growth, president and CEO Bruce McMaster added that March PCB bookings were at their highest level since October 2003.
Gross profit for the quarter was $8 million, up from $5.6 million for the first quarter 2004, due to a $6 million decrease in non-cash compensation charges and intangibles from the prior year. Excluding non-cash charges, adjusted gross profit increased sequentially by $0.5 million on the $0.9 million increase in sequential net sales.
The company reported net income of $9.7 million from discontinued operations, primarily due to a $11.1 million non-cash gain on the disposition of DDi Europe.
DDi announced that it will close its Arizona plant to shift production of mass lamination cores back to its four North American PCB plants. It is also closing is Corporate Support Center in Colorado Springs to streamline operations from its Anaheim headquarters.
Göteborg, Sweden - FlexLink AB, a provider of factory automation systems in the manufacturing and assembly industries, has been acquisired by ABN AMRO Capital, a European private equity provider. FlexLink was acquired via a management buy-out from EQT, the private equity funds group that acquired a 90% interest in FlexLink from AB SKF in 1997.
Founded in 1980, Flexlink has 540 employees, with its head office in Göteborg and business activities in 50 countries.
Johan Bjurström, Nordic Head of ABN AMRO Capital, said the company had prospered under its previous ownership but had further potential for geographic growth and to lead consolidation in its sector - key investment criteria for ABN AMRO Capital. "FlexLink is well positioned for future growth, as factory automation systems continue to develop in sophistication in response to the increased use of robotics and the growing need for flexibility in manufacturing," he said.
Founded in 1980, Flexlink has 540 employees, with its head office in Göteborg and business activities in 50 countries.
Johan Bjurström, Nordic Head of ABN AMRO Capital, said the company had prospered under its previous ownership but had further potential for geographic growth and to lead consolidation in its sector - key investment criteria for ABN AMRO Capital. "FlexLink is well positioned for future growth, as factory automation systems continue to develop in sophistication in response to the increased use of robotics and the growing need for flexibility in manufacturing," he said.
Jersey City, NJ - Cookson Electronics Assembly Materials has launched an RoHS Materials Declaration Service on its Website to provide access to information for many of its lead-free products.
The site -- alphametals.com/lead_free/rohs.html - should facilitate the search for RoHS-compliant materials (RoHS Directive 2002/95/EC restricts the use of six hazardous materials, including lead, from electrical and electronic equipment).
The format for declarations is based on the design of the joint industry group of EIA, EICTA and JGPSSI. The library of declarations will be updated regularly.
The site -- alphametals.com/lead_free/rohs.html - should facilitate the search for RoHS-compliant materials (RoHS Directive 2002/95/EC restricts the use of six hazardous materials, including lead, from electrical and electronic equipment).
The format for declarations is based on the design of the joint industry group of EIA, EICTA and JGPSSI. The library of declarations will be updated regularly.
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