© jakub krechowicz dreamstime.com Electronics Production | January 29, 2018
Fourth straight quarter of accelerating YoY revenue growth for Flex
Quarterly revenues for Flex amounted to USD 6. 67 billion during the company's third quarter or fiscal year 2018, an increase 10% year-over-year.
“Our third quarter displayed continued revenue growth acceleration and the advancement of our portfolio evolution,” said Mike McNamara, CEO at Flex. “This marked our fourth straight quarter of accelerating year-over-year revenue growth, with all four of our business groups beating the mid-point of their revenue guidance ranges. In addition, both our HRS and IEI businesses set new records for quarterly revenue and adjusted operating profits.” Net sales for the third quarter ended December 31, 2017 were USD 6.75 billion, growing 10% YoY from USD 6.11 billion and above the high end of the guidance range of USD 6.3 to USD 6.7 billion. GAAP income before income taxes was USD 141 million for the quarter and adjusted operating income was USD 220 million. GAAP net income was approximately USD 118 million and adjusted net income for the quarter was USD 164 million. Fourth Quarter Fiscal Year 2018 Guidance Flex plans to initiate targeted restructuring activities during its fourth quarter of fiscal 2018. The aims of this is to make the company faster and more responsive. While a detailed action plan has not been finalised, Flex expects to incur a minimum charge of USD 50 million in the fourth quarter. For the fourth quarter ending March 31, 2018, revenue is expected to be in the range of USD 6.1 to USD 6.5 billion.
Lynn Electronics acquires West Coast cable assembly company Pennsylvania-based Lynn Electronics, a manufacturer of fibre optic and copper cable assemblies, has completed its acquisition of Coast 2 Coast, LLC (C2C), an Anaheim, California cable assembly manufacturer.
Fictiv and Jabil team up for agile 3D printing collaboration The collaboration aims to accelerate and de-risks product development in the move from prototyping and low volume production to large scale global fulfilment.
TT expands with new industrial electronics manufacturing facility The UK-based electronics manufacturing specialist is expanding the footprint of its Global Manufacturing Solutions division by opening operations in Kuantan, Malaysia.
GE Appliances invests $62 million at its Louisville facility The manufacturer is gearing up to build high-end refrigerators and expand capacity at its manufacturing facility in Louisville, Kentucky., creating 260 new jobs.
Eaton buys new facility – merges busway operations from multiple sites Power management company Eaton has purchased a new facility in Hodges, South Carolina, establishing a new home for Eaton’s busway product line currently spanning three facilities across Greenwood County.
AIM adds new facility in Brazil AIM Solder has opened a new wholly-owned facility in Manaus, Brazil. This new stocking facility, which represents the only legitimate source of AIM products in Brazil, enables the company to support a growing Brazilian market.
PFOA now in REACh and POP regulation On 4 July, PFOA - perfluorooctanoic acid, its salts and precursor compounds - was included in the POP (Persistent Organic Pollutants) Regulation (EU) 2019/1021 and at the same time also came into force in the REACh Regulation (Annex XVII, entry 68).
Manz AG receives further Battery order Manz AG is expanding its successful partnership with an international battery manufacturers in the Energy Storage segment with a further major order in the mid double-digit million euro range.
Advantech and Interlatin to set up JV in Mexico Industrial IoT specialist, Advantech, says it is establishing a joint venture subsidiary in Mexico with its channel partner Interlatin.
Mercedes-Benz takes equity stake in Farasis Mercedes-Benz is taking another important step on its journey towards CO₂--neutral mobility. The Stuttgart-based car manufacturer has launched a strategic partnership with Chinese battery cell manufacturer Farasis Energy (Ganzhou) Co., Ltd., including taking an equity stake.
A new EMS provider sees the light of day EMS providers DataED and Bestronics merge to launch a new player – Emerald EMS.
Tektronix joins the fight agains COVID-19 Tektronix has shifted its focus from supporting vehicle manufacturing to assisting with ventilator production.
ABB completes divestment of Power Grids to Hitachi ABB has reached a significant milestone in the company’s transformation towards a decentralized global technology company, with the completion of the divestment of 80.1% of its Power Grids business to Hitachi.
Germany amps up domestic battery production with massive state subsidies The German government is investing more than EUR 1.5 billion in battery cell research and production.
Internal promotions and executive retirements at Kimball EMS provider, Kimball Electronics, has made two new internal promotions aimed at contributing to the company accelerating its strategic growth plans.
Kyocera & TMDU team up for research on vitals measurement headset Kyocera Corporation and Tokyo Medical and Dental University (TMDU) have teamed up on a joint research project to develop a wireless headset that can remotely monitor high accuracy patient biometrics, such as blood oxygen saturation (SpO2).
German battery manufacturer receives funding for cell production facility VARTA AG receives public funding of EUR 300 million for battery cell production facility.
Scanfil to streamline its factory network The EMS provider is planning to combine the production of its Hamburg factory with its other factories in Germany and Poland
Kitron awarded new order within measurement technology Kitron has been awarded new business for measurement technology. The award covers a period of five years, and the expected annual value is between EUR 3.5-5 million.
NORBIT ASA awarded aquaculture contract Norwegian technology manufacturer, NORBIT, has been awarded a new contract from an existing customer within the aquaculture market.
Saki strengthens its Asian operations The AOI specialist is expanding its global sales organisation with new Asia sales department, and appointing Katsuhiro Eddie Ichiyama as Senior General Manager for the Asian region
Scanfil to sell its plant in Hangzhou, China The board of directors of the Finnish EMS prover has decided to sell the entire share capital of its subsidiary located in Hangzhou, China, for a total of EUR 18.4 million to Hangzhou Cabinet Technology Co., Ltd.
Staying put during the COVID-19 pandemic TPCA (Taiwan Printed Circuit Association) announced the production and sales data for Q1 2020; the output value of Taiwan cross-strait PCB industry totalled NT$136.9 billion (approx. US$4.541 billion) in Q1/2020.
North American PCB industry sales up 1.0% in May Total North American PCB shipments in May 2020 were up 1.0 percent compared to the same month last year. Compared to the preceding month, May shipments fell 3.0 percent.Load more news