News
SAN JOSE -- Randy Furr, the CFO of Adobe Systems, resigned today, the company said in a press announcement. No reason was given for the departure, although Adobe said it was unrelated to Furr's performance or the company's financial statements.
Adobe is among the companies restating earnings due to improper dating of stock options. Adobe will restate earnings from 1997 to 2006.
Furr was president and COO of Sanmina-SCI from 1996 until he resigned October 2005.
Adobe is among the companies restating earnings due to improper dating of stock options. Adobe will restate earnings from 1997 to 2006.
Furr was president and COO of Sanmina-SCI from 1996 until he resigned October 2005.
NEWPORT, UK - EVS International has relocated to Porchfield, Newport, UK. The facility is triple the size of the company’s previous separate facilities. The new facility houses all offices, the warehouse and workshop.
MINNEAPOLIS – The SMTA has announced its board of directors for the term that began Sept. 2006. President David Raby, STI Electronics; secretary Irene Sterian, Celestica; Dr. Denis Barbini, Vitronics-Soltec, and VP Communications Steve Greathouse, Intel, were reelected to three-year terms.
Remaining on the SMTA board of directors is treasurer Dan Baldwin, Engent; VP technical programs Dr. Ken Gilleo, ET-Trends; VP membership Jim Kuehn, Tyco Electronics; planning committee chairperson Bill Barthel, Plexus, and planning committee members Ning-Cheng Lee, Indium; Dick Russell, Micromeritics, and Dr. Laura Turbini, University of Toronto.
Tom Forsythe of Kyzen is newly elected planning committee member.
TORONTO -- Electronics manufacturing services provider SMTC Corp. reported third-quarter net income of $6.1 million on revenue of $65.7 million for its third quarter ended Oct. 1, aided by $5 million in gains from one-time items. Last year, the company had earnings of $700,000 on sales of $64.6 million. Sequentially, net income was $1.3 million on $61.1 million in sales.
MILPITAS, CA -- Solectron expects to meet or exceed its previous first-quarter revenue guidance of $2.6 billion to $2.8 billion. The EMS firm maintained its first-quarter earnings of 4 to 6 cents per share.
The announcement came despite a delay in implementation of a new supply chain management program with Cisco Systems.
The announcement came despite a delay in implementation of a new supply chain management program with Cisco Systems.
SAN JOSE -- Electronics manufacturing services
company Suntron Corp. has reached a
confidential settlement with Applied Materials, the company said. Applied agreed to
pay Suntron an undisclosed sum in exchange for certain
Suntron inventory.
The companies also ended their other claims.
Suntron sued Applied in 2004, seeking damages related to more than $18 million in unused and obsolete inventory it had acquired to meet expected future demand from Applied.
In May, Suntron said that the Texas Supreme Court had cleared its litigation against Applied.
