BEAVERTON, OR – PCB manufacturer Merix Corp. reported a loss from continuing operations of $80.6 million on revenue of $93.6 million for the fourth quarter.
A $26.6 million impairment charge associated with the fixed assets of the company's Hong Kong manufacturing operation and a $53.3 million goodwill impairment charge are included in the results.
Excluding these charges, Merix reported a pre-tax loss of $600,000.
Income from continuing operations was $3.8 million on revenue of $98.3 million for the fourth quarter last year.
The loss from continuing operations reported for 2007 was $72.2 million on revenue of $400.5 million, which compares to income of $1.6 million on revenue of $304 million in 2006.
The increase in revenues was attributed to the inclusion of a full year of Merix Asia.
The company completed the quarter with $54.4 million of backlog to be shipped during the first quarter of 2008. Merix estimates revenues for the first quarter to be in the range of $96 million to $100 million.