Circuits Assembly Online Magazine - Features

SAN BRUNO, CA – Worldwide Manufacturing USA Inc. announced record second-quarter revenues of just over $4 million, an increase of approximately 43% year-over-year.

PLAINVIEW, NY – A slew of private investment groups have completed the acquisition of Aeroflex Inc., a maker of test equipment.

The Veritas Capital Fund III L.P., Golden Gate Private Equity and Goldman, Sachs will pay $14.50 per share for Aeroflex common stock, in a deal approved by Aeroflex’s shareholders July 26.

SIOUX FALLS, SD – EMS provider Raven Industries Inc. reported higher contributions from its flow controls division helped increase sales by 10% year-over-year, to $55.7 million, a record second-quarter, says the firm.

Net income expanded to $5.8 million, up 14% compared to the second quarter last year.

For the first half of the year, sales reached $113.8 million, a 5% improvement year-over-year. Net income was $14.4 million, an increase of 14%.

Electronic systems division sales were $16.7 million, up about 1% year-over-year, while operating income was $2.5 million, a decrease of 13%.

ESD sales for the first half were $31.1 million, down 2% year-over-year. Operating income, at $4.9 million, was essentially even with last year's first-half.

“The electronic systems division should again make a solid contribution to revenues, income and cash flow,” CEO Ronald Moquist said. “We expect all of these factors will combine to give Raven record performance in fiscal 2008.”

PHOENIX – EMS provider Suntron Corp. reported net income of $300,000 and net sales of $64.2 million for the second quarter.

Gross profit was $5.9 million, down about 5% year-over-year.

Suntron's restructuring activities completed in the first quarter enabled the company to return to profitability, the company said.

A year ago, Suntron reported a net loss of $1.3 million on net sales of $85.1 million.

Gross margin rose to 9.2%, up 1.9 points over last year and 3.9 points sequentially, driven by improved operating efficiencies and lower fixed costs.

"During the second quarter, we achieved net income driven by the results of our rightsizing activities and improved operating efficiencies, and our continued focus on working capital management also played a key role in strengthening our balance sheet," stated Paul Singh, Suntron's president and chief executive.

TAIPEI – Laird Technologies and ITEQ Corp. have struck a cross-licensing deal under which Laird will have access to ITEQ’s lamination capabilities and AP distribution, while ITEQ will have access to Laird’s T-lam materials.

ITEQ and Laird will join to supply solutions for the LED-based BLUs for LCD flat panel displays. Laird’s T-lam materials are important for this growing market, says the company, because the brightness and color of an LED degrades as temperature increases. T-lam permits heat to pass out of LED devices more efficiently, Laird reports.

ITEQ is a Taiwan-based laminates provider.

JENA, GERMANY – Goepel Electronic, a test equipment hardware and software manufacturer, recently restructured its U.S. organization to combine automotive test and JTAG/boundary scan divisions.

Goepel will now sell products directly using a combination of direct sales and manufacturers’ representatives. This means Huntron Inc. will no longer be sole distributor for Goepel in the U.S., the company said. According to Heiko Ehrenberg, vice president of the U.S. boundary scan operations, the companies “will continue to do some joint projects in the future.”

The company also hired Raj Puri as vice president of sales and marketing.