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Market News

TORONTO – Firan Technology Group Corp. (FTG) reported a 38% increase in fourth-quarter sales to $17.4 million. Sales grew 14% for the year ended November 30, to $63.2 million, compared to $55.6 million in 2007.

PORTLAND, OR -- Electro Scientific Industries, Inc. (ESI) reported that its fiscal 2009 third quarter revenues were $25.6 million, down 48% from the previous quarter. The company's fiscal 2009 third quarter ended December 27, 2008.

LISLE, IL – Molex Inc. reported first-quarter revenues fell 20.8% from last year to $666.7 million. For the quarter, the gross profit margin dropped to 26.4%, compared to 30.1% in 2007, on lower production levels and absorption of manufacturing overhead.

BANNOCKBURN, IL – IPC is hoping the government’s economic stimulus package reaches the electronics-manufacturing sector. The trade association is lobbying Congress to pass bonus depreciation tax incentives, as well as research and experimentation (R&E) tax credits, contained in the American Recovery and Reinvestment Plan.

EL SEGUNDO, CA – Defying an expected 10.7% decline in global mobile handset shipments, China’s domestic wireless phone market is set to maintain its growth in 2009, according to iSuppli Corp.

HELSINKI, FINLAND – Nokia Corp. has posted a 69% drop in profits for the fourth quarter, stemming from lost market shares and a lackluster demand for its phones during the holiday season.