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MELVILLE, NY – Nu Horizons Electronics said net sales from continuing operations for the fourth quarter were $193.18 million, up 24.3% compared to last year. Sales in its core components distribution business increased 28.2%.

Net income for the quarter was $424,000, down almost 19% year-over-year.

For the fiscal year ended Feb. 29, revenues increased to $747.2 million, up 11.8% year-over-year. Distribution sales increased 20.1%. Net income was $2,519,000, down 67.4% from the same period last year.

Chairman and CEO Arthur Nadata said, “We are executing well on our sales growth strategy with 42% growth in Asia, 106% in Europe and 11.8% total sales growth year-over-year. We continue to invest in Germany and expect this to fuel future growth in Europe.”

Professional fees continue to adversely affect earnings, he said.

ALAMEDA, CA – A leading EMS research firm lowered its five-year forecast for electronics production and EMS growth, saying, “economic drivers behind the numbers are a clear signal that the U.S. is in a recession.”

NEWPORT, SOUTH WALES – TT Electronics said it would integrate its five manufacturing services businesses into a single division, creating the UK’s largest – and the world’s 25th largest – EMS company.

The combined business unit features some 460,000 sq. ft. of manufacturing space and 1,500 staff with sites in Perry, OH; Rogerstone and Aylesbury, UK; Suzhou; and Kuantan, Malaysia.

In a statement, TT Electronics chief executive Neil Rodgers said, “Our integrated manufacturing services division offers high-volume services to customers manufacturing low to medium volumes. These include not only a choice of manufacturing location, to fit the profile of technical skills, quality accreditation and cost environment associated with each project, but also a service package that can extend right out to a fully outsourced logistics organization.”