Printed Circuit Design & Fab Online Magazine - Market News

Market News

SAN JOSE, CA – Weak product demand continues to affect Sanmina-SCI Corp.’s financials. The company reported a second-quarter loss of $37.5 million, compared to $39.9 million last year.

TORONTO – Celestica Inc. reported first-quarter net earnings were $19.2 million, down from $29.8 million year-over-year.

WILMINGTON, DE – The fourth-quarter slump has seeped into first-quarter results for DuPont. The company reported revenue for the quarter fell 17% from last year to $7.27 billion, forcing a revision to its full-year earnings outlook.

LISLE, IL – Molex Inc. reported a third-quarter net loss of $58.6 million, compared to a $50.3 million profit last year. The company blames a higher restructuring charge and a drop in orders.

HARTFORD, CT – United Technologies Corp. reported first-quarter revenue dropped 12% from last year to $12.25 billion. Profit fell 28% for the quarter.

PEORIA, IL – Caterpillar reported first-quarter revenues fell 22% from last year to $9.22 billion.

Net loss was $112 million, compared to a $922 million profit last year. The company’s last quarterly loss was in 1992.

Included in the amount is $558 million in redundancy costs associated with extensive cuts to its workforce. The company plans to eliminate 22,000 jobs worldwide as a result of the decline in new orders.

Caterpillar has also cut its profit forecast for the year from $36 billion/$44 billion to $31.5 billion/$38.5 billion.