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News

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Category: Fab News
RICHARDSON, TX – Titan Global Holdings Inc. reported revenues of $30.8 million and net income of $5.7 million for the third quarter, with all business segments reporting continued revenue growth.
 
The company also reported revenues of $96.9 million for the nine months ended May 31, reflecting a 17% increase year-over-year.
 
The electronics and homeland security division reported revenues of $6.2 million, an 8% increase from the same quarter last year, and net income of $2 million.
 
The communications division reported of $24.6 million for the quarter, an increase of 6% year-over-year, and net income of $4.5 million.

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Category: Fab News
PLYMOUTH, MN – Innovex Inc., designer and manufacturer of flex circuitry, reported revenue of $18.2 million for the third quarter, including restructuring charges of $1.4 million.
 
In the second quarter, the company’s revenue was $21.9 million. The company's net loss was $8.2 million.
 
Third-quarter results were impacted by weak customer demand, especially from the Hard Disk Drive sector, Innovex says. Demand was impacted by inventory adjustments by customers.
 
Flex suspension assembly products constituted 49% of the company's net sales; actuator flex circuit revenue was 31%; flat panel display product revenue was 14%, and integrated circuit packaging application, network system and other application revenue was 6%.
 
The restructuring charges are related to the company's plan to transfer all its manufacturing operations to Thailand.

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