© batman2000 dreamstime.com Electronics Production | April 30, 2019
Strong demand and solid execution drove results for Sanmina
"We exceeded our expectations for the quarter. Revenue was stronger than anticipated driven by our teams' excellent job in securing supply to catch up to demand,” says Michael Clarke, CEO of Sanmina addressing the company’ financial results for the second quarter 2019.
The company recorded second quarter revenues of USD 2.126 billion compared to USD 1.675 billion during the same period last year. Second quarter operating income amounted to USD 78.11 million, up from USD 48.77 million for the second quarter in 2018. Operating margin was 3.7% in the second quarter compared to 2.9% for 2Q18. Net income ended up at USD 40.88 million, up quite a bit from USD 24.63 million from the previous year.. "We exceeded our expectations for the quarter. Revenue was stronger than anticipated driven by our teams' excellent job in securing supply to catch up to demand. Our ability to control our costs, drive efficiencies and leverage our operating model drove operating margins to 4.1 percent,” says Michael Clarke, Chief Executive Officer. "Our strong results over the first six months of fiscal 2019 are a testament to our teams' ability to provide value to our customers through our technical capabilities, market expertise and operational excellence. We remain confident in our ability to drive profitable growth and positive cash flow from operations over the remainder of fiscal 2019," Mr. Clarke adds. For the company’s third quarter 2019, the company expects revenues between USD 1.925 billion to USD 2.025 billion.
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.
Sensirion expands with new production site in Hungary In a response to positive business trends and the increasing demand for its existing and new sensors, Sensirion is expanding its production capabilities by establishing a production site in Debrecen, Hungary.
Management Change at the Würth Elektronik eiSos Group After 27 years in the Würth Elektronik Group, Oliver Konz has decided to resign his position as Executive Vice President of the Würth Group and CEO of the Würth Elektronik eiSos Group for personal reasons and leave the company.
Kurtz Ersa inaugurates new production hall In Bestenheid, Germany, the company has just opened its new production and administration building. Following 24 months of construction and furnishing, the company now have access to 4’500 new square metres of space.Load more news
- A new EMS provider sees the light of day
- Global microelectronics market with overall stable development
- GaN and SiC power semiconductor markets set to pass $1 billion mark in 2021
- Germany amps up domestic battery production with massive state subsidies
- ABB completes divestment of Power Grids to Hitachi