You must be registered to access the full content of this site. To register, click here.
Part Search
M-Flex Reports Q4 Sales Up 51%
Written by Administrator
Monday, 05 November 2007
ANAHEIM, CA – PWB fabricator Multi-Fineline Electronix reported fourth-quarter net income rose 36% to $3 million on a 51% hike in net sales to $166.7 million.
The spikes were primarily a result of increases in net sales to the company's four largest customers.
For the year, net sales rose 1% to $508.1 million, while net income fell 93% to $3 million.
Net income was impacted by reduced gross margins, as well as a third-quarter pre-tax charge of $7.8 million related to deferred transaction costs expenses associated with the terminated offer to acquire MFS Technology Ltd.
According to Phil Harding, chairman and CEO, growth slowed primarily due to a significant decrease in sales to the electronics manufacturer that has been M-Flex's largest customer, representing 57% of total net sales in 2007, compared to 85% in fiscal 2006.
Net sales to all other customers grew in total by $145 million, or nearly 200% year-over-year.
According to Reza Meshgin, president and COO, the company has installed essentially all the equipment related to the $33 million expansion of its manufacturing capacity in China.
Need PCB prototypes fast?
Sunstone Circuits takes the pain out of prototyping! We are dedicated to making the online ordering of PCB prototypes simple, fast, and easy from quote to delivery. Quick access to our 24/7/365 customer service team and easy online order tracking takes the pain out of sourcing prototypes online.
Put us to the test - order Sunstone Circuits today!
PCB systems design teams face challenges with IP management and collaboration across multiple groups. This free Webinar highlights best practices that optimize these efforts across the design flow. Learn more!
Vision Engineering introduces the SX45 stereo zoom microscope. Although it is affordable, it maintains a high level of optical performance. It has a zoom ratio of 6.3:1 and a magnification of x50. A digital or USB camera can be used simultaneously, and a trinocular viewing attachment is available. Users can choose from numerous standard options, such as the bench stand, the boom mount and the articulated arm. Multimedia solutions are also available for image archiving, acquisition, processing, analysis and documentation. www.visioneng.us
News 
