ANAHEIM – Multi-Fineline Electronix, provider of flexible printed circuits and component assemblies, reported third-quarter net sales of $167.6 million, up 61% year-over-year.
This represents the second highest quarterly net sales in the company's history and the highest sales ever for a third quarter, the firm says. The increase in net sales was primarily a result of higher sales to three of the company's key customers, including OEMs that manufacture portable electronic devices.
Sequentially, net sales increased 2.2%, in line with the firm’s expectations. Net sales in the third quarter were positively impacted by growth in the area of smartphones.
Net income was $8.8 million, compared to a net loss of $6.7 million in the same period of 2007. This includes recognition of a $7.8 million before tax expense related to terminated acquisition costs. Net income declined 15.3% sequentially.
For the first nine months of fiscal 2008, net sales increased 51% year-over-year to $515.7 million. Net income increased to $32.8 million, compared to net income of $7,000 in the same period last year, on higher gross profit and reduced one-time charges.
For the fourth quarter, M-Flex expects net sales to be significantly higher than the third quarter.
COLUMBUS, OH -- METTLER TOLEDO will utilize a new power supply for all of its electrochemical meters that is fully ENERGY STAR compliant. The new power supplies are lighter, smaller and more efficient. According to the company they saving energy and money for end-users of the pH, conductivity and ion meters produced by METTLER TOLEDO.
The Environmental Protection Agency (EPA) established ENERGY STAR in 1992 as a voluntary, market-based partnership to reduce air pollution by giving consumers simple energy-efficient choices. Today, with the assistance of the U.S. Department of Energy, ENERGY STAR is featured on more than 40 types of products, from light bulbs to major appliances to new homes and buildings. More than 9,000 organizations have become ENERGY STAR partners and are committed to improving the energy efficiency of products, homes and businesses.
YAVNE, ISRAEL – Orbotech Ltd., manufacturer of automated inspection equipment for circuit boards and flat panel displays posted a net profit of $5.3 million ($0.16 per share), compared with a net loss of $3.4 million ($0.10 per share) for the corresponding quarter of 2007.
The company posted $105.1 million revenue for the second quarter, up 18.6% on the $88.6 million for the corresponding quarter. Sales of equipment to the printed circuit board (PCB) industry totaled $34.5 million for the second quarter, down from $44.4 million for the corresponding quarter. Sales of flat panel display (FPD) inspection equipment more than doubled to $29.8 million from $11.2 million. Sales of equipment for assembled PCBs were unchanged at $7.5 million.
Sales of its FPD inspection equipment rose 166 percent to $29.8 million. Sales of equipment to the printed circuit board (PCB) industry fell 22 percent to $34.5 million, which reflected the continuing global economic uncertainty, impacting bare PCB customers' capital investment plans, the company said in a statement.
BEAVERTON, OR – Merix Corp. announced a fourth-quarter loss from continuing operations of $3.5 million on revenue of $87.6 million. The results were much improved over a year ago, when the PWB fabricator reported a loss from continuing operations of $80.1 million on revenue of $93.6 million.
SANTA ANA, CA – TTM Technologies reported second-quarter net sales of $173 million, down 1% over a year ago and in line with company guidance. Net income was $9.4 million, down 35% sequentially.
WASHINGTON -- IFC, a member of the World Bank Group, announced that it will acquire 19% of the Fuba Printed Circuits Tunisie S.A. stock.
Slim Sellami, Fuba’s CEO, said, “We are grateful for IFC’s support. It shows trust in our ambitious growth strategy.”
“IFC’s partnership with Fuba will have a strong impact in the country by enhancing the technological competitiveness of a key Tunisian export player, creating job opportunities for university graduates and improving environmental and social standards as well as corporate governance,” said Dimitris Tsitsiragos, IFC Director for Global Manufacturing and Services.
IFC’s has not invested in the Tunisian manufacturing sector in over 10 years.
