Electronics Production | November 14, 2006
Incap presents strong revenue
Finland based EMS-provider Incap presents growing revenue in January - September 2006. However production transfer weakens the profability.
Incap's revenue in the January-September period totalled EUR 65.3 million, an increase of 15.2% over the same period's continuing operations in 2005 (Jan.-Sep. 2005: EUR 56.7 million). Revenue from the discontinued operations totalled EUR 1.3 million in January-September 2005. Operating profit in January-September totalled EUR 3.2 million, or 4.8% of revenue. Operating profit during the same period in 2005 totalled EUR 3.1 million, or 5.4% of revenue. Net profit for the report period amounted to EUR 3.6 million (4.3 million), or 5.5% of revenue (7.5%). Earnings per share were EUR 0.30 (0.35). Equity per share was EUR 1.69 (1.29). Juhani Hanninen, President and CEO of Incap Corporation: "The year 2006 has been positive for our company. Our revenue has grown mainly due to the increased needs of our present customers and we have also added new customer relationships." "In order to grow vigorously and become international in line with our objectives, we must make outlays on developing our operations and examining new business opportunities. These investments will lead to non-recurring expenses, due to which our full-year relative profitability is expected to fall short of its 2005 level." Revenue in the third quarter amounted to EUR 21.8 million, or 31.4% more than in the same period last year (July-Sep. 2005: EUR 16.6 million). Operating profit in July-September amounted to a total of EUR 0.6 million (0.8 million). Third-quarter operating profit represented a 2.7% share of revenue (4.6% of revenue). Profitability in the third quarter was influenced by the fact that revenue was concentrated in products requiring a large quantity of materials as well as by a temporary rise in expenses. The company incurred non-recurring expenses from the start-up of the factory in Kuressaare and the commissioning of additional capacity at the Helsinki factory. A EUR 1.4 million share of revenue came from the selling of materials to customers at cost price. The electronics contract manufacturing market's situation remained good. There were great periodic and quantitative fluctuations and forecast periods were further shortened. Incap's revenue fell as expected in July but picked up again towards the end of the report period, with record high revenue posted in September. Additional capacity created by investments in machinery at the Kuressaare and Helsinki units could not yet be fully utilised at the end of the report period, because installation work and the introduction of the equipment into service took place in July-August. Due to strong demand, the transfer of the volume manufacture of electronics products from the Vuokatti factory to the Kuressaare factory started up slower than estimated and will continue into next year. The costs involved in the transfer will burden the full-year profitability more than expected. The company has decided to continue the co-determination negotiations which were started at the Vuokatti factory in May until January 2007. The company continued charting the possibility of business operations in India. Based on estimates by customers and the general outlook for the markets, Incap believes that demand for its services for the remainder of 2006 will remain at the same level as earlier this year and that the company's revenue in 2006 will clearly top that of 2005. Due to the delay in production transfer and the unexpected growth of the costs involved, the relative profitability for the entire year 2006 is estimated to fall short of its 2005 level.
dSPACE adds West Coast office Simulation and validation specialist dSPACE has opened a Silicon Valley office in San Jose, California as part of its strategic realignment.
Cogiscan, BasiCAE form strategic partnership Quebec-based Cogiscan Inc. has announced a partnership with China’s BasiCAE Technology, a provider of traditional shop control systems and software customization services.
Korea hits new record of industrial robots in operation The World Robotics report presented by the International Federation of Robotics (IFR) shows a new record stock of about 300,000 operational industrial robots in the Republic of Korea in 2018 (+10%).
Keytronic starts production at its new Vietnam facility Keytronic Corporation says it has started shipping product from its new Da Nang, Vietnam manufacturing facility.
Sponsored content by CMLCML putting the drive into e-mobility As the global demand and trend for e-mobility grows, we understand that customers are looking for products with better performance, stricter tolerance, increased reliability and cost effectiveness. This means your PCB provider must understand the challenge you are facing, be able to support you throughout the whole process – from the first technical questions to the end of life.
USI's looking to accelerate expansion - acquires Asteelflash It looks like we’re ending 2019 with a bang. One of the worlds biggest EMS providers wants to acquire one of Europe’s largest electronics manufacturers.
Devon manufacturer adds capabilities in Dorset via acqusition Devon-based PCB manufacturer, EuroTech Group, is acquiring PCB manufacturer Lyncolec, based in Poole, Dorset.
Kyocera and TactoTek collaborate on IMSE solution Kyocera and TactoTek has singed a marketing agreement which aims to bring IMSE solutions to several new market segments, including industrial and automotive components, electronic devices, and more.
IPC: Unanimous approval of USMCA needed IPC issued a statement this week expressing support of the recently bi-partisan approval of the United States-Mexico-Canada Agreement (USMCA), and a strong desire for legislative approval by Canada, Mexico, and the U.S.
Nordson's CFO to retire in 2020 after 30 years with the company Nordson's Executive Vice President and Chief Financial Officer, Gregory A. Thaxton, plans to retire in 2020 after thirty successful years with the company, with the last 12 years as CFO.
KUKA restructures subdivision due to economic uncertainty KUKA is restructuring a subdivision in the Robotics segment that is responsible for automated manufacturing solutions such as cells and special machines.
PCB industry recovers slightly in Q3 PCB manufacturers in the D/A/CH region were able to increase sales sequentially in the third quarter of 2019 by 1.1%. However, sales figures are 11% lower than those recorded for the third quarter of 2018, reports the industry association ZVEI PCB and Electronic Systems.
Garz & Fricke moves into new HQ in Hamburg-Harburg Garz & Fricke GmbH continues to expand. As of late October, the business operations of the HMI and Panel PC specialist will be transferring to the new headquarters in in Hamburg-Harburg.
TF Massif Technologies taps new CEO British Columbia-based TF Massif Technologies has announced the appointment of Tom Peregoodoff as the company’s new chief executive officer.
DoJ: Google, Fitbit deal under review The U.S. Justice Department is looking into anti-trust issues concerning Google's bid to buy Fitbit Inc.
L3Harris Tech secures U.S. Marine Corps order L3Harris Technologies received a USD 50 million follow-on delivery order for Falcon III AN/PRC-160 HF radios and related equipment from the U.S. Marine Corps .
Metair completes Romanian lithium-Ion battery cell factory South African energy storage company, Metair Investments, says that its Romanian units Prime Batteries and Rombat have completed the installation of the group's first Lithium-Ion battery cell manufacturing and assembly facility in Bucharest, Romania.
£5m award marks ‘topping out’ of Cardiff research powerhouse An GBP 80 million Cardiff University powerhouse for Welsh scientific research has been ‘topped out’ by Bouygues UK – backed by over GBP5 million support from Welsh Government and industrial partners.
Advanced Energy expands with new lab near Frankfurt Advanced Energy Industries, Inc. has opened its Advanced Materials Processing (AMP) Showcase Lab near Frankfurt, Germany.
TTM Technologies unveils NY engineering center On the heels of its acquisition of manufacturing and IP assets from i3 Electronics Inc., TTM Technologies has announced the opening of a new engineering center in Binghamton, NY.
EU Commission to support pan-European battery development Seven member states will provide, in the coming years, up to EUR 3.2 billion in funding to support research and innovation in the common European priority area of batteries.
The pulse of the electronics industry Growth is slowing worldwide and the industry’s outlook is less optimistic than in previous quarters, although it is still generally positive, according to the results of IPC’s fourth-quarter 2019 Pulse of the Electronics Industry survey.
Teradyne delivers J750 semiconductor test system to Ardentec Teradyne has hit a milestone with the 6,000th shipment of the J750 family of semiconductor testers.
Season Group names new SvP for global business development Season Group has appointed Stephen Tsao as the company's new Senior Vice President, Global Business Development.
Zestron appoints new sales director Europe Mr. Adam Meinert recently joined ZESTRON as the Sales Director of Europe.Load more news