SAN JOSE -- Top 15 printed circuit board fabricator Multek saw sales grow in the September quarter, although at a slower rate than the company had expected. The unit remains unprofitable, although company executives say that's about to change.
On a conference call with analysts, CFO Paul Read said the PCB unit grew in the single-digits sequentially, adding that a burst is coming in the calendar fourth quarter.
"We thought it'd be a double-digit growth, but it was kind of more of a single-digit growth in the -- sequentially now in the September quarter. It has some big growth ahead of it, certainly double-digit plus here in the December quarter."
Multek, which makes rigid and flexible printed circuits, lost money in the quarter, but Read believes profitability is around the corner. '[G]rowth in September wasn't as great as we thought it would be or hoped it would be, and so the profitability simply didn't come through for that business. I think that the ramp that it's going through right now is certainly holding back some of the margin. But I think we'll see profitability in the December quarter for sure."
On Oct. 22, chat with Mike Buetow about PCB West and SMTAI at PCB Chat.