Electronics Production | January 23, 2008
STMicro announce net loss of $477 m
Fourth quarter net revenues increased 6.9% sequentially to $2.74 billion, gross margin at 36.9%, diluted EPS was $0.27 before restructuring and one-time charges. 2007 net revenues reached $10.0 billion; net income before restructuring and one-time charges was $698 million. 2007 net operating cash flow up 26% to $840 million.
Largely reflecting the non-cash impairment charges in connection with the agreement to divest FMG, ST’s operating loss was $545 million for full year 2007, compared to operating income of $677 million in the full year 2006. Net loss was $477 million, or $ -0.53 per share, compared to net income of $782 million, or $0.83 per diluted share in 2006. 2007 results included impairment, restructuring charges, other related closure costs and other one-time charges equivalent, net of taxes, to $1.29 per diluted share. President and CEO Carlo Bozotti commented, “Our fourth quarter financial results exceeded the mid-point of our outlook, with revenues up 6.9% sequentially and gross margin at 36.9%. Excluding FMG, revenues were up 7.7% sequentially with a gross margin of 38.2%. Sequential sales growth was driven by ST’s strong industrial-products offering and improving wireless positioning, both of which are areas of significant product-development focus for us. “Over the course of 2007 we made progress in strengthening our Application Specific Product Groups (ASG). ASG’s revenue growth of approximately 25%, comparing fourth quarter 2007 results with those of the year’s first quarter, was in line with our earlier expectations and is clear evidence of our strengthening portfolio. Additionally, our Industrial and Multisegment Sector (IMS), which includes Advanced Analog, MEMS and Microcontrollers, had sales growth over 10% in 2007, demonstrating the quality of ST’s product portfolio and capability to increase share in the industrial and analog markets.”
Celestica to manufacture ventilators for the Canadian market EMS provider Celestica has won a program to build 7,500 ventilators for StarFish Medical Inc., a Canadian medical device company, at Celestica’s operation in Newmarket, Ontario.
Ouman Estonia starts an expansion project Despite the current uncertain economical environment, Ouman says it believes in a brighter future and that the company is proud of the performance in its factories.
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Swedish EG Electronics acquires WEAB EG Electronics AB, a KAMIC Group company, has acquired all the shares in WEAB, Wermlands Elektronik AB.
ZF completes its acquisition of WABCO ZF Friedrichshafen AG has successfully completed the acquisition of commercial vehicle technology supplier WABCO, having gained approval from all required regulatory authorities.
Romanian EMS provider expands as it relocates Romanian EMS-Electra has successfully finalised the process of relocating to a new building, in the industrial area of Iasi, Romania.
Circuit Check partners with major healthcare company to build ventilators In early March, when a long-standing customer to the company, a major healthcare company approached Circuit Check to partner together to build over a dozen tests systems to assist in the COVID-19 efforts, Circuit Check responded quickly to the challenge.
TI maintains firm grip as world's top analog IC supplier TI's 2019 analog marketshare grew to 19% and ST climbed to fourth place as the top-10 suppliers collectively accounted for 62% of total analog sales.
Big Ass Fans adds third Hentec/RPS machine Complementing the purchase of two Hentec Industries/RPS Automation Vector 300 selective soldering machines in 2018, Big Ass Fans (BAF), a high-volume, low- speed (HVLS) airflow manufacturer, has just added a third machine to its factory in Newman Lake, Washington.
CE3 Electronics Inc. taps MIRTEC for 3D AOI technology Canada-based CE3 Electronics has purchased a MIRTEC MV-6 OMNI 3D AOI machine.
Gémosz is still looking to grow – but the pandemic brought new perspectives Winston Churchill famously said, “Never let a good crisis go to waste”. While this was said in a vastly different context than the current crisis of the COVID-19 pandemic, there is still truth to the fact that a crisis not only allows for change – but sometimes forces it.
North American PCB industry sales up 4.3% in April The IPC says that total North American PCB shipments in April 2020 were up 4.3% compared to the same month last year. Compared to the preceding month, April shipments fell 18.2%.
Volkswagen intensifies e-mobility activities in China Volkswagen has initiated the next chapter for its business in China. The automotive giant plans to increase its share in JAC Volkswagen, its joint venture for e-mobility.
GPV Selects Aegis as global smart factory partner Driven originally by accelerating customer expectations for traceability, GPV has selected Aegis’ FactoryLogix Smart digital manufacturing solution, targeting multiple values and benefits.
REDCOM EMS expands certification for medical device manufacturing New York-based REDCOM EMS has secured ISO 13485:2016 certification, complementing the company’s existing ISO 9001:2015 and AS9100D certifications.
Ozark Integrated Circuits nabs U.S. Air Force grant Arkansas-based Ozark Integrated Circuits Inc., located in the Arkansas Research and Technology Park at the University of Arkansas, has received a USD 750,000 award from the U.S. Air Force.
Norwegian EMS adds employees to Polish unit The last couple of months Norautron has welcomed three new colleagues at its office in Sdunska Wola, Poland.
Daimler’s battery production in Kamenz gradually increases production Local battery production is described as an important success factor for Mercedes-Benz AG’s electric offensive and a key element to flexibly and efficiently meet the global demand for electrified vehicles.
Tepcomp invests in new additional production line Finnish EMS provider, Tepcomp Group, has made a significant investment at its production plant in Turku. The new surface mount technology production line will significantly improve the productivity and energy efficiency of the plant.
Valoe is on schedule with both production and expected deliveries Valoe says it will start manufacturing IBC test modules in Juva, Finland in June and cell deliveries from Lithuania to customers is scheduled to start according to plan.
AMTE Power and Britishvolt sign MoU for GigaFactory AMTE Power and Britishvolt plans to investigate collaborating to build the UK’s first full cycle battery cell GigaPlant, servicing the automotive and energy storage markets.
ALLPCB’s new SMT factory has launched production On May 10 2020, ALLPCB’s new – self-operated – SMT factory in Guangde, Anhui Province, China was officially put into production.
Schweizer starts production at its new location in China Following a construction period of one and a half years, production has now started at the company’s new high-tech printed circuit board plant in Jiangsu, China.
Jenoptik supplies generators to a US customer Through its Vincorion investment, Jenoptik received a long-term order for generators that an unnamed US customer is integrating into military vehicles.Load more news
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