Electronics Production | July 23, 2008
Sanmina-SCI shows strength in challening economic environment
US based EMS company Sanmina-SCI, has reported its financial results for its third fiscal quarter ended June 28, 2008. revenue of $1.90 Billion, up 4.7% quarter-on-quarter and 13.7% year-on-year.
Revenue from continuing operations for the third quarter was $1.90 billion, compared to $1.67 billion in the same period a year ago. Non-GAAP gross profit in the third quarter of fiscal 2008 was $141.4 million, or 7.4 percent of revenue, up 160 basis points compared to gross profit of $96.5 million, or 5.8 percent of revenue, in the third quarter a year ago. Non-GAAP operating income was $60.4 million, or 3.2 percent of revenue in the quarter, compared to $10.2 million, or 0.6 percent of revenue, in the same period a year ago. Non-GAAP net income was $26.0 million, compared to a net loss of ($38.6) million, in the same period a year ago. Non-GAAP diluted earnings per share for the quarter was $0.05, compared to a loss of ($0.07) in the same period a year ago. GAAP net income in the third quarter was $12.0 million, or $0.02 diluted earnings per share, compared to a net loss of ($42.2) million, or ($0.08) per share, in the same period a year ago. "I am pleased with our third quarter results which mark the fourth consecutive quarter of improved profitability. We expect to see further improvements in our operational results as we continue to fine tune and focus our business model, strategic plan and execution on our core business. With the completion of the sale of our personal computing business and our restructuring initiatives largely behind us, I believe we will be able to sustain our financial improvements despite the challenging economic environment," stated Jure Sola, Chairman and Chief Executive Officer. For the next quarter revenue from continuing operations is expected to be in the range of $1.8 billion to $1.9 billion. Non-GAAP diluted earnings per share for continuing operations is expected to be between $0.05 to $0.07.
Gorenje reduces the number of layoffs At the end of April, due to a sharp drop in orders and revenues as a result of the COVID-19 pandemic, the Hisense Europe Group launched a redundancy program in four companies in Slovenia.
NA semiconductor equipment industry posts April 2020 billings North America-based manufacturers of semiconductor equipment posted USD 2.26 billion in billings worldwide in April 2020 (three-month average basis), according to SEMI.
AWS Electronics to wear the Incap name Following the acquisition of AWS Electronics Group by Incap Corporation in January 2020, the company's units in the UK and Slovakia will now be trading as Incap Electronics UK Ltd. and Incap Electronics Slovakia s.r.o.
PCB manufacturer SQP invests in new plasma treatment system As part of the continuous upgrade of the PCB manufacturing processes the Slovakian PCB manufacturer SQP International has invested in a new plasma treatment system.
Nordson delivers solid quarter considering COVID-19's impact on global end markets Nordson Corporation reported second quarter sales of USD 529 million, a 4% decrease compared to the prior year’s second quarter sales of USD 551 million.
Cicor expands its clean room set up in Bronschhofen Swiss EMS provider Cicor Group is currently expanding its site in Bronschhofen with a 60 square metre ISO Class 6 clean room.
Senate Dems to Trump: Release details of TSMC plant deal Democratic lawmakers are pressuring the Trump administration to respond to serious questions about Taiwan Semiconductor Manufacturing Co Ltd’s (TSMC) plans to build a USD 12 billion plant in Arizona, which the company announced last week.
SOS LAB completes series A+, inks MOU with ON Semi LiDAR sensor maker SOS LAB has secured series A+ investment funding of USD 8 million as of April.
Expanded US rules sanctioning Huawei to have little impact on memory industry TrendForce believes that the latest updates to the sanctions will have a relatively low impact, in the short term, on Huawei’s shipment of smartphones, notebook computers, and servers – products for which Huawei is relatively well stocked on components.
PCB Connect expands with new office Due to the PCB suppliers’ successful growth in Denmark, the company has now decided to invest further in the Danish Market.
Panasonic, Tesla discuss beefing up Nevada battery plant Panasonic Corporation this week said strong demand for battery cells from its U.S. partner, Tesla, has led to negotiations on the expansion of their joint plant in Storey County, Nevada.
Flex taps new leadership for automotive business Flex has named Mike Thoeny, president, Automotive Business Group, effective June 1, 2020.
Current pandemic slows down business development in German component distribution German distribution of electronic components (according to FBDi e.V.) continues to decline in the first quarter of 2020. The order situation improves slightly, at a low level. The FBDi calls for future-oriented course-setting and investments in infrastructure.
Progress is being made for BMW’s new plant in Hungary Preparations for the future BMW Group plant in Debrecen, Hungary, have reached important milestone. Following successful preparation of the land by the City, the official handover process has now started.
GKN Aerospace and Eviation ink collaboration deal on all-electric aircraft The collaboration agreement covers the design and manufacture of wings, empennage and electrical wiring interconnection systems (EWIS) for Alice, a regional electric aircraft recently launched by Eviation.
Variosystems provides an update on its operations The EMS provider has provided an overview of the operational status of its manufacturing locations.
VisIC partners with ZF for next-gen EV Inverters ZF Friedrichshafen AG and VisIC Technologies Ltd., are partnering to create the next generation of high-performance and high-efficiency electric drivelines for vehicles.
Will TSMC bring other players to the US? TSMC’s expansion plan in the U.S. may be accompanied by other actors in 12-inch supply chain too, says TrendForce.
Cicor updates its outlook due to COVID-19 Swiss EMS provider, Cicor Technologies, is updating its outlook for the results of the first half-year 2020, as the effects of the global pandemic is becoming increasingly apparent.
IPC: health of EMS industry germane to success of U.S. economy IPC’s recently published report, The Economic Impacts of the U.S. Electronics Manufacturing Sector, confirms the robust role that electronics manufacturing plays in the U.S. economy, as well as the impacts of COVID-19 that manufacturers and suppliers are most concerned about.
Global silicon wafer area shipments edge up in 1Q20 Worldwide silicon wafer area shipments rose 2.7% to 2,920 million square inches in the first quarter of 2020, compared with fourth-quarter 2019 shipments of 2,844 million square inches, but dropped 4.3 percent year-over-year, the SEMI Silicon Manufacturers Group (SMG) reported in its quarterly analysis of the silicon wafer industry.
Darekon invests in its production A sharp increase in demand has prompted Finnish EMS provider Darekon to take rapid action to grow its capacity.
U.S. Government extends Huawei ban into 2021 President Donald Trump has said the ban prohibiting U.S. companies from doing business with companies deemed a national security risk will continue through at least May 2021.Load more news