Adeptron Sees Improved 2010
TORONTO -- Adeptron Technologies reported fourth-quarter sales fell 30% to $9.1 million, but the EMS company eked out a 2% gain in annual sales for fiscal 2009.
For the three months ended Dec. 31, the provider of electronics manufacturing services reported a net loss of $1.5 million, versus net income of $580,000 a year ago. The results widened the annual loss to $4.3 million, versus a loss of $900,000 in 2008. The gross margin for the quatyer was -2.1%, dropping the 2009 figure to 5.7%, down from 14.5% in 2008.
Adeptron cited its operations in higher-cost regions (Canada) and currency factors for the lower reported sales and reduced margins.
Pointing to nine customer wins and the migration of one major program from China to North America, Adeptron expects a "much better" 2010. "At this point we have already realized or booked orders for over 50% of our planned sales for the year," president and CEO Michael Marti said.
"Based on current conditions we expect to add employees to our end of 2009 head count in order to meet increased customer demands," Marti said.
