HEI's Q1 Sales Up 7%
MINNEAPOLIS -- HEI Inc. today reported first-quarter net sales rose 7.2% to $9.52 million.
For the period ended April 3, the company generated net income of $293,000, up 9.3% from 2009.
The company provides electronics manufacturing services to the medical, telecom and industrial markets.
In a press release, HEI chief executive Mark B. Thomas said, "The new customers and new programs that we added in all three operating divisions in the latter part of 2009 have started to show contributions in the early part of 2010, along with an increase in demand from our existing customers. Although we realize that one quarter of results does not demonstrate a trend, it is nice to see that the operations are coming back around as we emerge from the slump in sales experienced in 2009. Our drive throughout the remainder of 2010 will be to continue to grow sales, improve gross margins and expand our customer base."
