TORONTO – Adeptron Technologies Corp. reported a third-quarter loss of $1.12 million, including a one-time $460,263 restructuring charge for consolidation of its Markham manufacturing facilities.
San Bruno, CA – Worldwide Manufacturing USA Inc. announced record revenues for the third quarter of nearly $3 million, up 5.8% year-over-year.
This increase was the result of an increase in orders, the company said.
Revenues year-to-date were $8.45 million, up approximately 5% compared to the first nine months of last year.
Net income before tax for the third quarter was $137,553, a decrease of approximately 69%, the engineering firm and contract manufacturer said.
This was the result of an increase in public cost, as well as expenses associated with finding potential acquisitions for the company, Worldwide Manufacturing reported.
Year-to-date net profit before tax was $480,994, a decrease of approximately 15.7%.
Jimmy Wang, CEO of Worldwide, stated, "We continue to focus on acquisition targets as well as internal growth. The trend of record revenues continues."
PHOENIX – EMS provider Suntron Corp. reported net sales of $52.5 million and a net loss of $400,000 for the third quarter of 2007.
The results included charges of $200,000 for stock-based compensation and $100,000 for restructuring expenses.
Gross profit for the third quarter was $4 million, flat with the same period last year, and down 32% sequentially.
"Our focus on working capital management has helped us significantly reduce our bank debt to $6.4 million at the end of the third quarter of 2007," stated Paul Singh, president and CEO.
SIOUX FALLS, SD – Raven Industries Inc. reported record sales and earnings for its third quarter. Continued strong demand in the flow controls division drove an 8% increase in sales, to $61.8 million, the company said.
Third-quarter net income was $7.4 million, up 6% year-over-year.
Year-to-date, sales rose $175.6 million, up 6% compared to the same period last year.
Year-to-date net income was $21.8 million, an 11% increase year-over-year.
"The flow controls division capitalized on a strong agricultural market, with good acceptance of new products and solid demand across the entire product line. The electronic systems division and Aerostar also reported double-digit increases in revenues and operating income. These advances more than offset declines in the engineered films division, which were caused primarily by increased price competition in its markets and the lack of disaster film sales," said CEO Ronald M. Moquist.
PEMBROKE, BERMUDA - Tyco Electronics Ltd. said its fourth-quarter earnings were $256 million, down 31% year-over-year on restructuring and separation costs.
The company said it took $59 million in restructuring charges, compared with $5 million in the fourth quarter last year.
Tyco Electronics also reported a $20 million charge related to the separation from Tyco International.
Revenue rose 11% to $3.62 billion compared to the same period last year. The company attributed its revenue gain to growth in international markets.
For the fiscal year, Tyco Electronics posted a loss of $554 million, compared with a year-ago profit of $1.19 billion.
Revenue for the full year increased 9% to $13.46 billion, the company said.
SAN JOSE, CA – North American-based manufacturers of semiconductor equipment posted $1.23 billion in orders in October and a book-to-bill ratio of 0.83, according to SEMI.