News
TORONTO -- Celestica, the world's third largest EMS company, reported a GAAP net loss of $810 million, primarily due to non-cash writedowns for asset impairment and a $161 million charge to cover a potential default by a leading customer. The company said it would close plants in higher-cost regions to improve capacity utilization.
The results marred an improvement in sales. Fourth-quarter revenue was $2.3 billion, up 22% year-on-year and 7% sequentially.
For the same period last year, the company reported a loss of $8 million.
Overall, the company took one-time charges of $836 million. Celestica recorded restructuring charges of $45 million for previously announced actions.
WESTFORD, MA, - MatrixOne Inc. said second-quarter revenues increased 31% to $35.1 million from $26.9 million in the same period last year.
The net loss was $400,000, compared to a net loss of $7.2 million in the same period last year.
Software license revenues increased 64% to $15.4 million from $9.4 million last year.
"We are pleased to report another very positive quarter with strong sequential and year-over-year revenue growth and improved bottom-line results. Our operating performance during the second quarter reflects the continued improvements in our company-wide sales execution, expanded implementations within our existing customer base and the adoption of our solutions by strategic new customers who are fueling the growth of the PLM market," said Mark F. O'Connell, president and CEO of MatrixOne.
LAGUNA, Philippines - EMS provider Integrated Microelectronics Inc. will produce the RadarGolf Handheld golf ball finder device designed by Radar Golf Inc.
IMI president and chief executive Arthur R. Tan said, "We began working with Radar Golf in December 2003 and it is very exciting to see this breakthrough product now so close to coming to market."
Earlier this week, Radar Golf announced in a press release that independent lab tests found the company's patented ball performed equal to or better than competitive balls from Titleist, Callaway, Nike and Maxfli. The tests measured both distance and spin. The ball conforms to U.S. Golf Association standards.
The novel ball contains proprietary ball positioning system technology. When used with the RadarGolf device, balls can be detected from 30 to 100 feet away.
First shipments are scheduled for June.
The company today reported fourth-quarter revenues of $142.5 million, up 10%, sequentially and 8% year-on-year.
Net earnings were $6.6 million, vs. $3.9 million in the fourth quarter of 2003.
Full-year revenues of $531.3 million topped 2003 revenues by
15%. The company, which makes electronics gear, posted net earnings of $20 million, well above 2003 earnings of $12.6 million.
For the quarter ended Jan. 1, the company had net income of $490,000, reversing a net loss of $287,000 last year. Net income was $266,000 last quarter.
First-sales are up 49% from 2004, while net income ($756,000) is up more than $1 million.
"We are pleased with our continued revenue and earnings growth in the second quarter," said Jack Oehlke, president and chief executive, in a statement. "Our growth was primarily driven by increased production on programs for established customers involving gaming technology and specialty printer accessories and components. During the quarter, we added to our printed circuit board capacity to address the needs of those customers."
Key Tronic expects third-quarter revenues
to be flat to down 5% from the second quarter. New programs from consumer and medical technology
customers that begin later this year should boost revenues, the firm said.
"We
anticipate that our performance in the second half of fiscal 2005 will
be roughly comparable to the first half," Oehlke said.
Effective today, all current employees will transfer to EPIC. The two plants, located in
Johnson City, TN, and South Lebanon, OH, employ a combined 500 workers.
Siemens purchased the Johnson City facility in 1991 from
Texas Instruments, and acquired the South
Lebanon operations from Eaton Corp. in
2000.
"We are highly committed to maintaining the level of quality and customer service that EMC established under the Siemens brand and look forward to bringing a high level of lean manufacturing efficiency and EMS industry expertise to these operations," said John Sammut, president and CEO of EPIC, in a press release.
