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MINNEAPOLIS -- Nortech Systems today reported fourth-quarter net sales of $19.8 million, down 26.7% from a year ago.

GLENVIEW, IL -- Illinois Tool Works today reported operating revenue rose 10% year-over-year for the quarter ended Feb. 28. Its Power Systems and Electronics group, which includes Kester Solder, Speedline and Vitronics-Soltec, reported sales grew 5.4%.

SALT LAKE CITY -- CirTran Corp. has transferred its open and active purchase orders relating to its contract electronics manufacturing business to a new ownership group led by its former COO.

TAIPEI – Foxconn Electronics (Hon Hai Precision Industry) posted February revenues of $3.83 billion, up 46.8% year-over-year.

NEW YORK – Electronics targeted for auto, aerospace, industrial, instrumentation, military and medical products make up a $480 billion market, of which less than 5% is outsourced.

That’s according to a new report from Barron’s. The financial media outlet believes OEMs will slowly but steadily move programs to EMS companies over the next several years.

Each segment should add 2.5% in incremental growth to the EMS sector over the next two years, Barron’s says. Coupled with macro demand forecasts, plus incremental gains for consumer electronics cellphones (another 2.5%), and the industry growth rate should reach 10%.

Furthermore, the company says, this revenue will come with higher margins than past outsourcing programs. While the industry at large tries to buck 3 to 3.5% operating margin, the new revenue sources should have 10% to 20% incremental operating margin, Barron’s says.

SIOUX FALLS, SD -- Raven Industries reported January quarter sales fell on weaker economic conditions in the company's end-markets.

OLATHE, KS -- Elecsys, which provides EMS and other OEM products, reported fiscal third-quarter sales fell 6% year-over-year to $4.74 million.

NASHVILLE – Celestica plans to close its facility here on April 15, say local reports.

SAN JOSE – Worldwide sales of semiconductor manufacturing equipment totaled $15.92 billion in 2009, a 46% year-over-year decline, SEMI reports.

TORONTO -- SMTC reported fourth-quarter revenue of $51.2 million, down 7.4% year-over-year but up 16% sequentially.

HELSINKI – The European Chemicals Agency this week published proposals to identify eight chemicals as Substances of Very High Concern (SVHC) and possible candidates for authorization.