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Market News

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.

BETHESDA, MD – Lockheed Martin has released fourth-quarter and year-end results. Net earnings for the quarter rose 3% to $823 million or $2.05 per diluted share. For the year ended December 31, they increased 6% to $3.2 billion, $7.86 per share.

Fourth-quarter net sales were $11.1 billion, up from 2007 sales of $10.8 billion. For the year, they rose 2% to $42.7 billion, up from $41.9 billion last year.

Cash from operations for the quarter were $997 million, compared to $425 million in 2007. For the year, the figure came in at $4.4 billion.