© dmitry-bomshtein-dreamstime.com PCB | February 28, 2014
Aspocomp's sales drop 17% in 2013
Finnish Aspocomp's net sales for 2013 amounted to EUR 19.3 million, a year-on-year decrease of 17 percent. The level of demand remained unstable throughout the financial year.
Key figures 2013 in brief (EUR) Net sales: 19.3 million (23.4 million 2012) Operating result before depreciation (EBITDA): 0.8 million (2.1) Operating profit (EBIT): -0.7 million (0.6) Operational cash flow: 0.7 million (1.2)After the cautious recovery that Aspocomp recorded in the third quarter, the market situation weakened again and was very difficult during the year-end holiday season. In particular, net sales of the customers in the telecom infrastructure fell clearly short of the targeted. The actual sales of the other customers were also lower than targeted. Demand for quick-turn deliveries, which is essential for profitability, was also muted in all customer areas. The operating result was EUR -0.7 million (EUR 0.6 million 1-12/2012). Both plants operated at low capacity utilization during most of the year. A partial summer standstill was started at the Teuva plant in late June and ended in September. For the duration of the standstill, most of the plant’s production was transferred to the company’s Oulu plant. After September, the Teuva plant has been operating in one shift, which is not optimal in terms of profitability. The Oulu plant has been operating normally in three shifts to ensure quick-turn delivery capabilities. The operating result is improved by a one-time item of approximately EUR 1.2 million, which is related to the reversal of a provision for closure expenses. In 2014, net sales are expected to be EUR 20-25 million and operating profit without one-time items EUR -0.5-1.5 million. CEO Sami Holopainen review the year: “2013 turned out to be a very difficult year. After the weak first half of the year, the demand situation improved slightly in the third quarter, but weakened again toward the end of the year. Subdued demand caused many customers to streamline their operations during the year-end holiday season. Coupled with the usual optimization of inventory levels, this led to a collapse in demand. Net sales amounted in the end to only EUR 19.3 million, 17 percent less than in 2012. Operating result was EUR 0.7 million negative."
Bel acquires CUI Inc. power assets Bel Fuse Inc. has closed on its previously-announced deal with CUI Global for the majority of the power business of its subsidiary, CUI Inc.
Accel Robotics more than quadruples initial funding San Diego-based start-up Accel Robotics has announced a USD 30 million Series A funding round led by SoftBank Group Co.
General Motors, LG Chem partner in Ohio General Motors and LG Chem have announced plans to form a joint, equally-owned company to mass-produce electric vehicle battery cells.
Swissbit opens electronics production facility in Berlin Swissbit has been manufacturing in Germany since 2002 and has now official opened its new electronics production facility in Berlin.
Revenue ranking of global top 10 IC design companies The newest analysis from TrendForce shows that several U.S.-based IC design companies experienced continually expanding losses in 3Q19 revenue because of the ongoing China-U.S. trade war and because Huawei had yet to be removed from the Entity List.
Mycronic receives order for an upgrade of a Prexision system Swedish production equipment specialist, Mycronic AB, has received an order to upgrade a system to a full-scale Prexision 8.
Kurtz Ersa inaugurates new extension buildingin Asia Kurtz Ersa Asia Ltd. celebrated its 15th anniversary in China and at the same time opened its extension building in Zhuhai.
Clover Wireless acquires Teleplan Illinois-based Clover Wireless has acquired Teleplan International N.V., a global electronics supply chain services and solutions provider.
FLIR Systems, Providence Photonics finalize deal Oregon-based FLIR Systems has completed its strategic investment in Providence Photonics, developers of advanced software used to quantify invisible gas emissions using FLIR optical gas imaging (OGI) cameras.
Lucid Motors sees EV facility groundbreaking Lucid Motors has officially begun phase-one construction of its EV manufacturing facility in Arizona, representing an investment of more than USD 300 million.
Precogs’ CEO: ‘If we can’t help you, it won’t cost you’ The business model of Precogs, the company that has created a global marketplace that connects a buyers ERP with component distributors, is quite intriguing; you will only pay out of what the company can save you.
Cre8tek invests in robotics to increase efficiency and quality Danish-Chinese electronics manufacturer, Cre8tek, has recently invested in added automation in the shape of robots; which are currently moving into the company’s production plant in Shenzhen with the aim to increase efficiency and quality.
Global semiconductor sales increase 2.9% MoM in October The Semiconductor Industry Association (SIA) today announced worldwide sales of semiconductors reached USD 36.6 billion for the month of October 2019, an increase of 2.9% from the previous month's total of USD 35.6 billion, but down 13.1% compared to the October 2018 total of USD 42.1 billion.
Standex International buys Torotel Inc. Standex International Corporation and Torotel Inc. have reached a definitive agreement for Standex to acquire Torotel for approximately USD 48 million in cash.
SPEA unveils new digs in Chandler, Arizona SPEA, a provider of in-test equipment for electronics, semiconductor, MEMS, and sensor industries, has opened a new office in Chandler, Arizona, in the metropolitan area of Phoenix.
SUSS MicroTec, BRIDG team up on NA applications center SUSS MicroTec has announced a broad collaboration agreement with BRIDG, a Florida not-for-profit microelectronics fabrication facility with 200 mm (8-inch) wafer fab capabilities.
Universal adds software center in Bratislava Universal Instruments has extended its EMEA capabilities with the addition of a Software Center in its Bratislava, Slovakia corporate facility.
Sono Motors launches community funding campaign The German mobility provider Sono Motors launched one of the biggest community funding campaigns in Europe yesterday. The company’s campaign target is to generate EUR 50 million between now and December 30, 2019, with preorders from existing and new supporters.
Filtronic expands hybrid microelectronics manufacturing facility Filtronic, the designer and manufacturer of antennas, says it has invested over USD 1.3 million in new equipment for its manufacturing facility in Sedgefield, UK.
ACM Research aiming for R&D facility in Shanghai ACM Research Inc., provider of single-wafer wet cleaning equipment, has begun the bidding process to acquire land rights in the Shanghai, Lingang region.
DirectMed acquires Medical Systems Technologies San Diego-based DirectMed Parts & Service has acquired Medical Systems Technologies (MST), a specialist in magnetic resonance imaging (MRI) and computed tomography (CT) component level repair and testing.
Gowanda acquires RCD Components New York-based Gowanda Components Group has picked up New Hampshire’s RCD Components, which will be folded into the company’s Magnetics Division.
Eurocircuits biggest investment to date One thing has always been clear for PCB manufacturer Eurocircuits – continues investments have been the key for the company’s success, and investments have been made.Load more news