SAN JOSE – Tessera Technologies reported total revenue for the first quarter 2008 of $59.4 million, up 21.2% year-over-year.
GAAP net income was $2.2 million, down 80.2% year-over-year, including non-cash charges of $4.5 million for stock-based compensation, $2.5 million for acquired in-process research and development, and $2.3 million for amortization of acquired intangibles.
Non-GAAP net income was $16.1 million.
“Our first quarter total revenue was driven by robust DRAM and wireless unit growth and included a favorable adjustment by one of our licensees,” said Bruce McWilliams, chairman, president and CEO for Tessera. “Demand for increased memory and functionality in both computing and consumer devices is driving broader usage of chip scale packaging in a wide range of applications. From a strategic perspective, as the features of digital still cameras and cellphones converge, we believe our platform of consumer imaging technologies is well positioned to help drive next-generation wireless devices. We believe this will generate longer-term company growth.”
Tessera guided for second-quarter revenue of $54 million to $56 million, which includes projected royalty and license fees of between $47 million and $49 million, $1 million above the company's Jan. 31 guidance.
MANKATO, MN – EMS firm Winland Electronics reported net sales for the first quarter were $7 million, down 24.4% year-over-year. The company incurred a loss from operations of $569,000 compared to a loss of $342,000 in 2007. First-quarter net loss was $380,000, compared to a net loss of $267,000 last year.
Gross profit was $611,000, or 8.7% of sales, down from last year’s $872,000, or 9.4% of sales. Decreased gross profit was primarily a result of underutilization of fixed manufacturing costs because of lower sales volume for the quarter, said the firm.
Operating expenses were $1.2 million, which was consistent overall with the same period of 2007, according to Winland. The company's sales and marketing expense increased with the hiring of two salespeople during the past year, and in the first quarter, the company decreased new product development spending.
"Winland's results during the first quarter this year reflect the negative impact of a sharp decline in customer demand from two of our three largest customers, as well as the phase out of sales from two customers," said newly named CEO Thomas de Petra.
"Early in the first quarter, we responded to this sales trend with discretionary expense reductions and adjustments to fixed overhead that were paired to a restructuring of our manufacturing and operations departments and other initiatives announced earlier this year," de Petra added.
ROME, NY – The ESD Association will hold an online course on controlling ESD in automated equipment next month.
The course takes place June 25 at 2 p.m. EST.
Instructor Donn Bellmore of Universal Instruments will focus on the grounding and material requirements of ESD Controls in AHE for prevention of CDM and MM type damage to ESD sensitive devices. Design methods and material selections that provide effective ground paths through the assembly will be introduced. Test methods used to qualify the design will be discussed. Students will also become familiar with different types of plating and practices to provide effective designs.
NORTH BILLERICA, MA – BTU International Inc., supplier of advanced thermal processing equipment, said first quarter 2008 net sales were $16.6 million, up 10% year-over-year, and down 9% sequentially.
Net income was $100,000, down 83% from the preceding quarter, and down almost 86% compared to the first quarter of 2007.
“First quarter sales and income were in line with the forecasted ranges. Cash flow was positive, with a quarter-end balance of $27 million, and bookings during the quarter for both electronics and solar were strong,” said Paul J. van der Wansem, chairman and CEO of BTU.
“As we outlined at the end of the fourth quarter of 2007,” said van der Wansem, “we are in the midst of an aggressive program to grow our alternative energy business. Managed by our new Alternative Energy Business Group, we are adding employees and investing heavily in technology and new product development. Although the cost of these initiatives will have a negative impact on short term results, we believe they are necessary...”
The company remains conservative about the electronics business outlook for the second half of the year because of weakening economic conditions. BTU expects second-quarter sales in the range of $19 to $20 million.
Earnings are expected to show a moderate improvement compared to the quarter just finished, as the firm foresees a continuing ramp of costs associated with executing the plan to grow its alternative energy business.
BOSTON – Nepcon East opened today to predictably modest crowds and a surprisingly upbeat mood.
Attendance was difficult to gauge. On one hand, there were ample people in the aisles. On the other, it was near impossible to know at a glance which show they were there for: Nepcon, Assembly New England or OEM New England, the latter two of which cater to distinctly different customers.
HERNDON, VA – The North American workshop for the 2009 iNEMI Roadmap will review drafts of most of the 22 technology/business process chapters to be included in the roadmap.
The full-day meeting, scheduled for May 14, at iNEMI’s Herndon, VA headquarters, provides for a two-way dialogue.
The registration deadline is May 8.
Chapter committees will give industry a “sneak peek” at work in progress, and workshop participants can provide feedback and direction to ensure that the final chapters accurately reflect the state of the industry and anticipate future directions.
In addition to the workshop in North America, roadmap workshops are scheduled in Europe (June 18 in Leuven, Belgium) and Asia (July 28 in Shanghai).
HONG KONG – Xinye Technology Enterprises has selected the Suining Innovation Industrial Zone in Sichuan Province, China, to build a new PCB manufacturing plant.
Located in Southwest China, the manufacturing facility will reportedly be the largest in this area of the country when completed, occupying about 7 million sq. ft.
The company reports that it expects to take three to five years to build the facility, with a cost of over $250 million required for completion. The designed annual capability of the base will reportedly be 5 million square meters, and create 6,000 to 8,000 new jobs for the area.
LOGAN, UTAH -- When Blake Kirby first invested in Inovar, some 10 years ago, he “didn’t even know what contract manufacturing was.” Now president and COO of the EMS firm, Kirby recalls when he first saw the company, it was housed in a garage. The space was so small, the first SMT line the company purchased cleared the walls by a scant 4".