News
ELKHART, IN -- CTS Corp. today announced second-quarter revenues of $165.9 million, up 5% increase from a year ago. related tax
expense and the reversal of certain reserves.
" We had a record number of design wins for electronic components in infrastructure applications, secured our first production award from Honda and added several new EMS customers," said Donald Schwanz, chairman and chief executive.
" We had a record number of design wins for electronic components in infrastructure applications, secured our first production award from Honda and added several new EMS customers," said Donald Schwanz, chairman and chief executive.
CTS maintaied prior full-year guidance of 6 to
8% sales growth.
For the quarter capital expenditures were $3.4 million, or 2% of sales, and free cash flow was $11.4 million. The full-year capital expenditures are expected to be $18 million to $20 million. Free cash flow was $20,000 in the first quarter, and $10.8 million in the second quarter last year.
The new Czech Republic facility of CTS began operations during the quarter. Production will be increased gradually throughout the year to meet business growth and better serve automotive OEMs in that region.
EMS sales were $94.2 million, up $2.4 million year-on-year and $11.3 million sequentially. Operating income from EMS operations were $2.5 million.
SAN JOSE -- Sanmina-SCI reported third-quarter revenue of $2.71 billion, up 1.5% sequentially but down 4.2% from a year ago.
A special committee of the company's board and an independent outside legal counsel are reviewing stock option administration policies and practices dating to Jan. 1, 1997. As such, the company did not provide detailed earnings financial information for the quarter.
A special committee of the company's board and an independent outside legal counsel are reviewing stock option administration policies and practices dating to Jan. 1, 1997. As such, the company did not provide detailed earnings financial information for the quarter.
NEENAH, WI -- Plexus Corp.'s net income was a record $25.1 million on a 27% gain in revenues for the period ended July 1. The EMS firm reported a record $397.4 million for the quarter. Sequential
growth in the third quarter was exceptional. Gross margins expanded 50 basis
points sequentially to 11.5% of revenues, and operating margins
rose 75 basis points to 6% of revenues.
The company will close its facility in Maldon, England, to reduce manufacturing capacity and relocate the programs to a facility in Kelso, Scotland, by the end of 2006 or early in 2007. About 77 employees will be laid off.
The company will close its facility in Maldon, England, to reduce manufacturing capacity and relocate the programs to a facility in Kelso, Scotland, by the end of 2006 or early in 2007. About 77 employees will be laid off.
MILPITAS, CA -- Electronics manufacturing services provider Solectron Corp. today
announced its Fremont NPI facility has received ISO
13485:2003 medical certification.
The standard specifies requirements for a quality management system for regulatory purposes in the manufacture of medical devices.
The standard specifies requirements for a quality management system for regulatory purposes in the manufacture of medical devices.
The Fremont plant, which Solectron operates under the name FinePitch, is the seventh company site to gain the certification. The others are Charlotte,NC; Scotland; Quebec; Suzhou, China; and two in Singapore.
SAN JOSE -- Flextronics last night reported fiscal first-quarter net sales from continuing operations rose 6% to $4.06 billion, while GAAP net income rose 44% to $85 million. Both numbers topped previous estimates.
Sequentially net sales from continuing operations increased 15%, and GAAP operating margin improved 180 basis points, for the period ended June 30.
"There has been a reacceleration of significant growth in our core EMS business, which includes design, vertically-integrated manufacturing services, components and logistics," said chief executive Mike McNamara.
Sequentially net sales from continuing operations increased 15%, and GAAP operating margin improved 180 basis points, for the period ended June 30.
"There has been a reacceleration of significant growth in our core EMS business, which includes design, vertically-integrated manufacturing services, components and logistics," said chief executive Mike McNamara.
SAN CLEMENTE, CA -- Test and inspection OEM YESTech has opened a sales and tech support branch in Alton, Hampshire, UK.
The office will provide service to YESTech's European representatives and customers. YESTech Europe handles most European countries, the Middle East and South Africa.
"YESTech prides itself on its exceptional level of customer support and in providing local help with applications," commented Don Miller, YESTech president. "Adding further backup within the European time zone is another example of this continued commitment to bring all of our support capability to a local focus, world wide."
The office will provide service to YESTech's European representatives and customers. YESTech Europe handles most European countries, the Middle East and South Africa.
"YESTech prides itself on its exceptional level of customer support and in providing local help with applications," commented Don Miller, YESTech president. "Adding further backup within the European time zone is another example of this continued commitment to bring all of our support capability to a local focus, world wide."
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