Fab News

WESTPORT, CT -- Compass Diversified Holdings reported a net loss of$29.4 million during its third quarter ended Sept. 30. The company said its results were boosted by its two PWB fabricator subsidiaries: Circuit Express and Advanced Circuits. Read more ...

SANTA ANA, CA – PCB manufacturer TTM Technologies reported record third-quarter net sales of $357.8 million, up 15% sequentially.

Operating income increased 163% sequentially to $45.7 million.

GAAP net income was $29.1 million, compared to $4.9 million for the second quarter of 2010.

Second-quarter results included charges of $14.6 million related to plant closures, impairment of long-lived assets, transaction costs, and inventory fair value adjustments.

“We achieved record revenue and profitability, exceeding the guidance we provided for the quarter. The recently completed combination with Meadville has clearly been a transformative event for TTM,” said Kent Alder, president and CEO of TTM.

TTM estimates fourth-quarter revenue in the range of $351 million to $367 million.

ANAHEIM, CA – M-Flex posted fiscal fourth-quarter net sales of $226.7 million, up 13.8% year-over-year.

Fourth-quarter net income was $6.1 million, down 47.2% compared to the same period last year.

For the fiscal year ended Sept. 30, net sales increased 3.5% compared to 2009, to a record $791.3 million.  Fiscal 2010 net income totaled $29.8 million, down 35.4% year-over-year. This includes impairment and restructuring costs totaling approximately $11.4 million. 

The firm expects first-quarter revenue of $225 million to $245 million, and full-year 2011 revenue of $870 million to $950 million.

 “As a key supplier to leading smartphone and other consumer electronic device OEMs, we continued to see strong demand for our flex assemblies.  Fourth quarter net sales increased more than 25% on a sequential quarter basis and helped generate the highest full-year net sales in the history of the company,” said M-Flex CEO Reza Meshgin.

MIGDAL HAEMEK, ISRAEL -- Inspection equipment maker Camtek swung to third-quarter profit of $2 million as demand improved across the board. Read more ...

BANNOCKBURN, IL– The North American flex circuit industry will grow 9% this year, says a new report.

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MAPLE GROVE, MN -- Universal Circuits has been fined $45,000 by the Minnesota Pollution Control Agency for hazardous waste violations.

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