News
WEST CHICAGO, IL - M-Wave Inc. has acquired the assets of Jayco Ventures Inc. for approximately $1.4 million, the company said today.
M-Wave brokers printed circuit boards and components.
M-Wave, which released its fourth-quarter results last week, upped its 2005 guidance to $34.6 million, nearly double 2004's sales. M-Wave projects revenues of $15.3 million from JVI.
M-Wave will also split into two operating units, with its PCB unit becoming M-Wave Electro-Mechanical Group. Bob Duke, VP of sales and marketing, was named divisional president.
The other unit, M-Wave Digital Broadband Services, will manage JVI's assets, and will do business as JVI Technologies. JVI founder Jason Cohen was named the subdiary's president.
M-Wave expects revenue for its fourth-quarter ended Dec. 31, of $3.89 million, up 17% over the fourth quarter of 2003. Gross margin is expected to be 21%, up from 8%.
The annual revenue of $17.5 million for fiscal 2004 is up 23% increase from 2003. The net loss improved to $2.24 million, from $12.1 million last year. The 2004 results include a one-time charge of approximately $1.9 million.
The loss from operations was $1.2 million, versus $13 million in fiscal 2003. Gross margins improved to 18%, from a loss of 12%.
SAN FRANCISCO -
Despite a modest improvement over January, CIO spending expectations are
dropping from last year, according to the latest poll of the nation's tech leaders.
For the third straight month,
large enterprises reduced spending expectations to 2% growth for the year.
Deutsche Bank, in a research note today, said growth rates for most major
technology product areas will slow in 2005. DB forecasts IT spending will grow
4 to 5% this year, down one point from 2004.
Small companies - those with
less than 100 employees - see higher IT spending. CIOs at these firms predict 8.7%
growth this year. The largest companies (more than 5000 workers) are the most
cautious, forecasting 2.2% growth.
Security is the top priority, with storage a close second.
What is not confusing, however, is deSouza's approach to running the placement equipment maker. As senior vice president of operations he had been on the executive team for years and played a large role in formulating the company's strategy, first for recovery from the recession and now for a new industry growth phase.
An avid amateur pilot - he says his first solo came when he was "11 or 12" - deSouza spoke with Circuits Assembly's editor-in-chief Mike Buetow on Asia's maturity, the need for tighter development windows and the pros of decentralization. Excerpts.
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