News
NEENAH, WI – Plexus Corp. announced fourth-quarter revenue was $426 million, an increase of 6.8% year-over-year.
Plexus targets revenue growth in the range of 15% to 18% in 2008.
Dean Foate, president and CEO, commented, "Our return on invested capital for fiscal 2007 of 17.6% was above our weighted average cost of capital and consistent with our long-term financial model. Despite being at the low end of our revenue guidance for Q4, we exceeded our earnings expectations, driven primarily by a favorable mix of customer programs, better than expected labor efficiencies and strong performance by our engineering services organization (Technology Group) ...
"Looking forward, we are expecting a strong start to fiscal 2008, with Q1 revenue in the range of $440 million to $460 million with single digit growth in all of our Market Sectors, with the exception of our Defense Sector, where we expect sequential revenue growth to exceed 25%. Including the production push-out from Q4 and a small follow-on order from our large defense customer, we are currently expecting approximately $54 million in revenue from this program in Q1 followed by approximately $26 million in Q2."
BOSTON – The big news from Nepcon East was what was happening away from the show floor. Most businesses, while noting a general slowing of growth this year, indicated that they were in hiring mode going into 2008.
OREM, UT – Electronics contract manufacturer Wolf Electronix has invested more that $1 million in equipment and facility improvements in Orem, UT.
Upgrades include ESD flooring, lighting, screen printers, SMT machines (inline), ovens, and automated optical inspection machines.
In addition, Wolf Electronix appointed 20-year veteran Robert Greiner as CEO. Prior to joining Wolf, Greiner was CFO of a management group in the Northwest, complementing 10 years of financial and operational management in the EMS industry.
The public is invited to an open house the first week of November; call 800-458-3179 for details.
KRAKOW, POLAND – Note has agreed to acquire half the shares of a new joint venture with Polish EMS provider Fideltronik.
Arne Forslund, Note’s CEO and president said, “Our joint venture will be based at Fideltronik’s current plant in Krakow and will have some 220 employees. The acquisition brings us access to additional cost-efficient production capacity in Poland that complements our other international facilities in the Baltic States and China.”
No other terms of the agreement were disclosed.
SPOKANE VALLEY, WA – EMS provider Key Tronic Corp. reported total revenue of $44.6 million in the first quarter of 2008, down nearly 20% year-over-year.
Net income for the quarter was $200,000, a decrease of close to 86% compared to the same period in 2007.
“As anticipated, we saw slower demand from a number of our established customers in the first quarter of fiscal 2008, while our new programs contributed a growing portion of our revenue,” said Jack Oehlke, president and CEO. “We expect both our established customers and our new customer programs to drive strong revenue and earnings growth in the second half of fiscal 2008.
For the second quarter, the company expects revenue in the range of $45 million to $48 million.
SAN JOSE, CA – Global EMS provider Sanmina-SCI Corp. reported revenue of $2.5 billion for the fourth quarter of 2007, flat with revenue in the third quarter, and down 7.4% year-over-year.
Year-end revenue was $10.4 billion, down 5.4% compared to 2006.
Net income for the fourth quarter was $10.2 million, compared to a net loss of $22.8 million sequentially, and a net loss of $2.1 million year-over-year.
Net income for the year was $22.8 million, down about 78% compared to the prior year.
Gross profit was $134.1 million, up 10.3% sequentially and 2.3% year-over-year.
The company expects first-quarter 2008 revenue in the range of $2.5 billion to 2.65 billion.
