News
YAVNE, Israel – Valor Computerized Systems posted second quarter net profit of $1 million – a growth of nearly 150% year-on-year. Net profit for the first six months of 2006 was $1.75 million, up 68% from $1 million in the comparable period last year.
Cash flow from operating activities in Q2 was $1.7 million, up from $241,000 YOY.
Revenues in the second quarter increased 10% sequentially to $9.2 Million, from $8.4 million; the number is a 2% increase over Q2 2005.
“I’m very pleased with the results,” said Ofer Shofman, president and CEO. “The successful implementation of a restructuring process enabled us to show an increase in revenues in Q2 as well as significant increase in net profits. We have been able to penetrate several of the world’s largest electronics companies with our TraceXpert solution this quarter. We expect these deals to deliver significant business in the upcoming years and to open the doors for us into new markets.”
“By the end of the year we are planning to launch a number of new products,” Shofman revealed. “The first one, to be launched within a few months, will provide a Web-based collaboration platform between our customers and their clients.”
The company expects to see continued growth in the next quarter and has revised it annual net profit forecast from $3 million to $3.75 million.
Cash flow from operating activities in Q2 was $1.7 million, up from $241,000 YOY.
Revenues in the second quarter increased 10% sequentially to $9.2 Million, from $8.4 million; the number is a 2% increase over Q2 2005.
“I’m very pleased with the results,” said Ofer Shofman, president and CEO. “The successful implementation of a restructuring process enabled us to show an increase in revenues in Q2 as well as significant increase in net profits. We have been able to penetrate several of the world’s largest electronics companies with our TraceXpert solution this quarter. We expect these deals to deliver significant business in the upcoming years and to open the doors for us into new markets.”
“By the end of the year we are planning to launch a number of new products,” Shofman revealed. “The first one, to be launched within a few months, will provide a Web-based collaboration platform between our customers and their clients.”
The company expects to see continued growth in the next quarter and has revised it annual net profit forecast from $3 million to $3.75 million.
Jersey City, NJ – Cookson Electronics Assembly Materials has established a Global Applications Technology and Engineering group, which will join its global R&D group. The new group’s mission is to help customers solve assembly technology, yield and reliability challenges by understanding process dynamics, and incorporating internal testing and validation capabilities.
"The formation of the Global Applications Technology and Engineering group gives Cookson Electronics the ability to increase its development and output of process engineering expertise into the world of electronics manufacturing,” said Steve Brown, director of global applications technology. “This new group has been formed at a time when assemblers are continually finding new practical challenges in assembly processes, as Pb-free production becomes a daily reality. At the disposal of the group is our a global team of field applications engineers along with two fully automated SMT and wave soldering lines, with automatic solder paste inspection. This enables us to re-create and solve process problems from within Cookson Electronics labs, by using either Cookson test vehicles or customer specific PWBs."
"The formation of the Global Applications Technology and Engineering group gives Cookson Electronics the ability to increase its development and output of process engineering expertise into the world of electronics manufacturing,” said Steve Brown, director of global applications technology. “This new group has been formed at a time when assemblers are continually finding new practical challenges in assembly processes, as Pb-free production becomes a daily reality. At the disposal of the group is our a global team of field applications engineers along with two fully automated SMT and wave soldering lines, with automatic solder paste inspection. This enables us to re-create and solve process problems from within Cookson Electronics labs, by using either Cookson test vehicles or customer specific PWBs."
HERNDON, VA — The International Electronics Manufacturing Initiative (iNEMI) is launching a new project to develop testing and use condition guidelines for electronic components used in medical applications. The Medical Components Reliability Specifications Project is the first organized under the consortium’s new Medical TIG (Technology Integration Group).
The project will develop test and extrapolation methodologies to predict reliability of components in actual use. The project team plans to create a minimum set of requirements for electronic components used in implanted or life-critical devices. The project will also suggest when testing should be done, what kind of testing is required and how to apply test results.
ST. LOUIS -- LaBarge has been named sole supplier for PCBs by ZTEC Instruments, and received initial orders valued at approximately $1.6 million.
LaBarge is producing PCBs for the oscilloscopes, waveform generators and digitizers that constitute ZTEC's modular instrument platform. The platform is used to monitor systems in the telecommunications, military, medical and industrial markets. It integrates several automated test and measurement instruments into a single box.
LaBarge is producing PCBs for the oscilloscopes, waveform generators and digitizers that constitute ZTEC's modular instrument platform. The platform is used to monitor systems in the telecommunications, military, medical and industrial markets. It integrates several automated test and measurement instruments into a single box.
LaBarge is manufacturing the PCBs at its Pittsburgh facility. Production on the initial orders is expected to continue through December 2006, with additional orders anticipated.
ANAHEIM, CA – Along with its second quarter financial results, DDi Corp. announced that it has acquired PCB manufacturer Soverign Circuits and sold its assembly business to Veritek Manufacturing.
On August 8,, DDi sold its assembly business to Veritek Manufacturing Services LLC, for approx. $12 million in cash. The assembly business had unaudited net sales of $15.6 million for the six months ended June 30, 2006 and $31.1 million for 2005, with gross margins of 13% and 10%, respectively.
On August 8,, DDi sold its assembly business to Veritek Manufacturing Services LLC, for approx. $12 million in cash. The assembly business had unaudited net sales of $15.6 million for the six months ended June 30, 2006 and $31.1 million for 2005, with gross margins of 13% and 10%, respectively.
Thief River Falls, MN – Quatech, a wholly owned subsidiary of DPAC Technologies Corp., signed a distribution agreement with Digi-Key. Products distributed by Digi-Key include wireless modules and external device servers. These modules afford designers the opportunity to use finished RF designs in their own projects, which results in rapid design turnaround time and frequently, reduced costs.
Digi-Key will also stock Fox Electronic’s range of crystals, oscillators, VCXOs, TCXOs and OXCOs. New products will be added to Digi-Key’s line as they are announced by Fox.
Digi-Key will also stock Fox Electronic’s range of crystals, oscillators, VCXOs, TCXOs and OXCOs. New products will be added to Digi-Key’s line as they are announced by Fox.
Digi-Key also signed an agreement to stock Future Designs Inc.’s USB in-circuit programs and an LCD demonstration kit. FDI is a design consultant for a variety of products from Philips Semiconductors.
Irvine, CA – The electronics group of Henkel plans to broaden its scope in India, with several of its top customers setting up production centers in the region. Development plans include the expansion of the local sales force through direct sales and distribution channels, growth of the technical applications staff, establishment of product manufacturing and refinement of logistics operations.
The company has appointed Bhavesh Muni as global director of business development for India. Muni has spent the last four years with Henkel in various sales and product management roles, and is a native of Bhavnagar, Gujarat, India.
“India has been on our radar screen for quite some time,” said Patrick Trippel, president. “With an office and support team already in place in Bangalore, we are now taking our regional commitment to the next level with the expansion of the sales and application staffs and the appointment of Bhavesh Muni to the newly-created business development role.”
The company has appointed Bhavesh Muni as global director of business development for India. Muni has spent the last four years with Henkel in various sales and product management roles, and is a native of Bhavnagar, Gujarat, India.
“India has been on our radar screen for quite some time,” said Patrick Trippel, president. “With an office and support team already in place in Bangalore, we are now taking our regional commitment to the next level with the expansion of the sales and application staffs and the appointment of Bhavesh Muni to the newly-created business development role.”
TOKYO – KYOSAN DENSO Manufacturing Kentucky, DENSO Corp.’s subsidiary in Mt. Sterling, KY, plans to expand its 80,700 sq. ft. facility by adding 84,500 sq. ft. The $27.1 million investment will also create approximately 150 new jobs by 2010 (the plant current employs 280).
Due to the expansion, capital was increased $16 million last month.
“With this expansion, we will be able to increase our production of automotive fuel pump modules and their components, including fuel filters and flanges,” said president Shunichiro Hiromasa. “We aim to increase sales to $160 million by fiscal year 2010, from $74 million in fiscal year 2005.”
Construction of the new facility is scheduled to begin in August and be completed by March 2007. Production should begin in June 2007.
KYOSAN DENSO assembles automotive fuel system components, fuel pump modules and on-board refueling vapor recovery valves for North American car manufacturers.
Due to the expansion, capital was increased $16 million last month.
“With this expansion, we will be able to increase our production of automotive fuel pump modules and their components, including fuel filters and flanges,” said president Shunichiro Hiromasa. “We aim to increase sales to $160 million by fiscal year 2010, from $74 million in fiscal year 2005.”
Construction of the new facility is scheduled to begin in August and be completed by March 2007. Production should begin in June 2007.
KYOSAN DENSO assembles automotive fuel system components, fuel pump modules and on-board refueling vapor recovery valves for North American car manufacturers.
Cary, NC -- Products manufactured and distributed through Metech will now be marketed under the LORD Corp. label. LORD, a supplier of electronic and microelectronic adhesives, coatings, encapsulants and sealants, purchased Metech in 2000.
Metech is known for its cermet and polymer thick film pastes for the hybrid microelectronic, PCB and component industries.
Greg Melso, prior VP of sales and marketing for Metech, will serve as the global business development manager for LORD’s Electronic Boards and Components Industry Group.
Metech is known for its cermet and polymer thick film pastes for the hybrid microelectronic, PCB and component industries.
Greg Melso, prior VP of sales and marketing for Metech, will serve as the global business development manager for LORD’s Electronic Boards and Components Industry Group.
RICHARDSON, TX -- TXP Corp., a provider of pre-manufacturing services announced results for the three and six months ended June 30, 2006. Revenue for the second quarter increased 34% to $1.9 million, up from $1.4 million in Q2 2005.
Operating income was $21,000, compared to a loss of $43,000 for the second quarter last year. Net loss was $4.1 million, or $0.04 per share, compared to net loss of $88,000 or $0.00 per share, for Q2 2005. Net loss included non-cash charges of $4.3 million related to a change in the fair value of derivative financial instruments, and $465,000 related to gain on early extinguishment of debt.
Michael C. Shores, president and chief executive, said in a press release, "I am extremely pleased to report that we achieved an operating profit for the second quarter of fiscal 2006 -- a major accomplishment, given the early stage of our business. Moreover, our customer base has grown to over 93 customers at the end of the second quarter, from 63 customers at the same time last year."
Operating income was $21,000, compared to a loss of $43,000 for the second quarter last year. Net loss was $4.1 million, or $0.04 per share, compared to net loss of $88,000 or $0.00 per share, for Q2 2005. Net loss included non-cash charges of $4.3 million related to a change in the fair value of derivative financial instruments, and $465,000 related to gain on early extinguishment of debt.
Michael C. Shores, president and chief executive, said in a press release, "I am extremely pleased to report that we achieved an operating profit for the second quarter of fiscal 2006 -- a major accomplishment, given the early stage of our business. Moreover, our customer base has grown to over 93 customers at the end of the second quarter, from 63 customers at the same time last year."
WEST HAVEN, CT – Enthone Inc., a business of Cookson Electronics, has introducing dedicated Simple Chinese and German language content throughout its Website (enthone.com). The content provides both product information, as well as data tailored to address technology needs, product applications and other requirements for customers in the Asia-Pacific region and Germany.
The user may access the new language Website areas by clicking on the "Select Language" drop down menu located in the upper left quadrant of every page.
The user may access the new language Website areas by clicking on the "Select Language" drop down menu located in the upper left quadrant of every page.
Huub van Dun, president of Enthone Inc., said: "There is no doubt that the substantial growth, acceptance and continued demand of Enthone products throughout the Asia-Pacific region has mandated the rebirth of the enthone.com site to better serve our customers. Concurrently, Germany continues to be Enthone's largest market throughout Europe where the development and acceptance of products for the automotive and plumbing industries have global impact."
Enthone is a supplier of specialty chemicals and coatings used in the electronics and surface finishing industries.
Enthone is a supplier of specialty chemicals and coatings used in the electronics and surface finishing industries.
ATLANTA, GA — UP Media Group Inc. and Circuits Assembly have partnered with Kitmondo.com, one of the world’s largest online marketplaces for used equipment.
The new online marketplace, powered by Kitmondo, is available at circuitsassembly.kitmondo.com/. The online marketplace provides subscribers with access to thousands of classified listings containing used PCB assembly equipment, used SMT equipment and used semiconductor equipment.
The global used equipment market (all categories) is estimated at $100 billion annually. Kitmondo.com has 5,100+ equipment listings in the PCB Assembly category and boasts advertisers in 58 countries.
"We have found that Kitmondo generates specific customer interest in our products and allows us to only pay when we make a sale, thus eliminating upfront costs of advertising,” said Alden Lewis of NEA Inc., who uses Kitmondo to sell PCB assembly equipment.
The new online marketplace, powered by Kitmondo, is available at circuitsassembly.kitmondo.com/. The online marketplace provides subscribers with access to thousands of classified listings containing used PCB assembly equipment, used SMT equipment and used semiconductor equipment.
The global used equipment market (all categories) is estimated at $100 billion annually. Kitmondo.com has 5,100+ equipment listings in the PCB Assembly category and boasts advertisers in 58 countries.
"We have found that Kitmondo generates specific customer interest in our products and allows us to only pay when we make a sale, thus eliminating upfront costs of advertising,” said Alden Lewis of NEA Inc., who uses Kitmondo to sell PCB assembly equipment.
