GLENVIEW, IL – Illinois Tool Works Inc. today reported operating revenue rose 16.3% for the quarter ended July 31.
Operating revenues consisted of a 10.9% increase from acquisitions net of divestitures, 2.4% growth from base revenues, and a 3% contribution from translation and other items, reports ITW.
ITW, with $14.1 billion in revenue, is a manufacturer of components and industrial systems and consumables. The company consists of approximately 750 business units in 49 countries and employs some 55,000 people.
ITW's operating companies include Speedline Technologies, Kester, Chemtronics and Simco. ITW did not break out sales for those units.
TAIPEI — Leading ODM Compal Electronics reported second-quarter revenue of NT98.9 million, up 2% sequentially. Net income was up 25% to NT3.3 million.
Gross margins were flat, at 4.8%.
The company said it would invest $30 million in a notebook PC plant in Vietnam, with mass production scheduled for the end of 2009. With more than 85% of notebooks PCs coming from the Shanghai area, Compal president Ray Chen said investment in Vietnam could spread risk for its customers.
The company expects its Vietnam plant will produce 300,000 to 500,000 notebooks monthly, reported DigiTimes, with costs around 3 to 5% lower compared to its Shanghai plant.
The ODM also plans to invest up to NT$ 1.5 billion in Wah Yuen Technology Holding in exchange for a 71% stake in Hong-Ya Technology and JuRong Hauye New Technology, a pair of magnesium alloy casing manufacturers. Compal says the investment will strengthen its vertical integration.
Gross margins were flat, at 4.8%.
The company said it would invest $30 million in a notebook PC plant in Vietnam, with mass production scheduled for the end of 2009. With more than 85% of notebooks PCs coming from the Shanghai area, Compal president Ray Chen said investment in Vietnam could spread risk for its customers.
The company expects its Vietnam plant will produce 300,000 to 500,000 notebooks monthly, reported DigiTimes, with costs around 3 to 5% lower compared to its Shanghai plant.
The ODM also plans to invest up to NT$ 1.5 billion in Wah Yuen Technology Holding in exchange for a 71% stake in Hong-Ya Technology and JuRong Hauye New Technology, a pair of magnesium alloy casing manufacturers. Compal says the investment will strengthen its vertical integration.
HIALEAH, FL -- Simclar Inc., the world's 37th largest EMS company, reported June quarter sales rose 22% to $37.1 million on higher demand from existing and new customers. Net income nearly doubled, to $1.4 million, up from $709,033 in the same period in 2006.
Pre-tax income was $2.1 million, up from $1.3 million. Backlogs at quarter's end were $30.6 million, up 8.6% from the end of the first quarter.
In a press statement, chairman Sam Russell said, "We are beginning to realize the increased benefit of the vertical integration of our products. Our cash generation in the first half of the year has been good and has allowed us to make $1.5 million of additional bank loan repayments, over and above our scheduled repayments."
Pre-tax income was $2.1 million, up from $1.3 million. Backlogs at quarter's end were $30.6 million, up 8.6% from the end of the first quarter.
In a press statement, chairman Sam Russell said, "We are beginning to realize the increased benefit of the vertical integration of our products. Our cash generation in the first half of the year has been good and has allowed us to make $1.5 million of additional bank loan repayments, over and above our scheduled repayments."
SAN JOSE – SEMI today reported worldwide semiconductor manufacturing equipment billings reached $11.1 billion in the second quarter. The figure is up 3% sequentially, and about 15% year-over-year.
TAIPEI — Foxconn Electronics reported July non-consolidated revenues of $2.93 billion, up 2.6% sequentially and 39.5% year-over-year, on demand for consumer electronics, PCs and networking devices.
ARLINGTON, VA — Electronic component orders rose in July, boosted by a late rush in June that carried over into the next month, according to the latest monthly average compiled by the Electronic Components, Assemblies & Materials Association.
The 12-month average remained relatively flat, the trade group said.
Orders began picking up momentum in the last weeks of June and continued throughout July, maintaining a pattern of summer acceleration seen in past years.
In a statement, ECA president Bob Willis said, “It looks as if we are on the way to the third straight year of order growth."
The 12-month average remained relatively flat, the trade group said.
Orders began picking up momentum in the last weeks of June and continued throughout July, maintaining a pattern of summer acceleration seen in past years.
In a statement, ECA president Bob Willis said, “It looks as if we are on the way to the third straight year of order growth."
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