HEI Raises Revenue, Trims Losses
Published: 28 March 2011
by Mike Buetow
MINNEAPOLIS -- Electronics manufacturing services firm HEI cut its fourth-quarter net loss by more than $500,000, reporting a loss of $231,000 for the period ended Jan. 1.
For the quarter, the contract printed circuit board assembler reported revenue of $9.1 million, up 15.4% year-over-year.
For the fiscal year, revenue was $36.4 million, up 15.5% from a year ago. The net loss was $369,000, an improvement over a net loss of $1.6 million in 2009.
About 25% of HEI's revenues was from new customers and new programs, primarily in military, industrial and telecommunications manufacturing, the EMS company said. "Medical continues to be a strong market for us as well," said HEI chief executive Mark Thomas.
