BEIJING – A report by China’s Ministry of Industry and Information Technology (MIIT) reports that March exports of electronics and IT products fell 24.6% from last year to $87.2 billion.
THE WOODLANDS, TX – Huntsman Corp. reported first-quarter revenues fell 33% from last year to $1.7 billion.
Net loss for the quarter was $290 million, compared to a profit of $7 million last year.
The Advanced Materials segment reported first-quarter sales dropped 32.2% from last year to $257 million, including an 8% reduction in the average selling price for products. Sales volumes decreased due to lower demand in all regions.
Earlier this year, the company announced that it would reduce costs across all divisions. A work force reduction of 1,250 positions (10%) and an additional reduction of 490 full-time contractors are expected to result in an annualized savings of $150 million.
President and CEO Peter R. Huntsman commented that the company saw positive order patterns in the first quarter and exited the quarter in a position of higher demand.
Huntsman’s Advanced Materials segment supplies solder mask and primary imaging materials to the PCB industry.
ANAHEIM, CA – Multi-Fineline Electronix Inc. (MFLEX) reported second-quarter net sales rose 6% year-over-year to $174.1 million on an increase in sales to two of its major customers.
PLYMOUTH, MN – Innovex reported second-quarter sales fell 35% quarter-on-quarter to $8.9 million. The company cites a drop in demand for Flat Panel Display (FPD) and Actuator Flex Circuit (AFC) products that started early in the quarter and continued through the Chinese New Year holidays, as well as a shortage in materials in March.
TAIPEI -- Compal Electronics said notebook PC shipments during the current quarter would be higher than previous company forecasts, but said the cloudy economic conditions still remain.
Compal is the world's second largest contract manufacturer of notebooks.
Compal's revised forecast calls for a sequential bounce of 15-20% in shipments for the June quarter, up from previous guidance of 15% in March. That translates to 7.25 to 7.56 million units.
The company reiterated its unit shipments target for 2009, saying business demand for PCs hasn't yet recovered.
NEWTON, MA -- Revenue from sales of automotive electronics will fall 14.5% this year before rebounding sharply in 2010, according to new research.
After falling, in dollar terms, 3% to $148 billion, 2009 sales are expected to be far worse, with the market plunging 14.5% to $126 billion.
However, says research firm Strategy Analytics, the underlying fundamentals of the automotive electronics industry are arguably stronger than ever, with increased electronics penetration the only realistic way of meeting future environmental and safety requirements. The firm forecasts a bounceback of 14.3% in 2010.
The firm further predicts the automotive electronics market will grow to $203 billion by 2013, a dollar CAAGR of 6.5% from 2008 to 2013.