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Speaking of this Week — July 23, 2004
December 31, 1969 |Estimated reading time: 3 minutes
By Christine F. Della Monaca, Managing Editor, SMT
Speaking of this Week summarizes and analyzes events in the electronics assembly industry every Friday.
This week, progress news, especially that of awards given and received, dominates the news. There's also lots of (good) financial news, huge personnel announcements, important agreements and partnerships between companies, tradeshow news, and looks at the industry.
- In awards news, Troy, N.Y.-based GlobalSpec walked away with the InfoCommerce Group's Model of Excellence Award for the second year in a row, this time for its Engineering Search Engine, while Wilmington, Del.-based DuPont handed out its 2004 Plunkett Awards, established in honor of Teflon discoverer Roy J. Plunkett, Ph.D., to companies such as Taconic and W.L. Gore. Billerica, Mass.-based GSI Lumonics Inc. has also received an award — this one in the form of an order for multiple WaferTrim systems from a U.S.-based IC manufacturer. Finally, Midland, Mich.-based Dow Corning launched a new Web site that provides information on silanes, which can be used as adhesion promoters, coupling and crosslinking agents, hydrophobers, and surface modifiers.
- In financial news, Singapore-based EMS giant Flextronics announced that net sales for the first quarter ended June 30 rose 25 percent year-over-year to $3.88 billion, and net income increased 283 percent, or, in terms a shareholder can appreciate, 14 cents per diluted share, over the first quarter in 2003. Natick, Mass.-based Cognex Corp.'s revenue for its second quarter, ended on July 4, was $54.5 million, and the first six months of 2004 saw revenue rose 48 percent from the comparable year-ago period to $103 million. And Longmont, Colo.-based PMJ Cencorp, an operating division of PMJ Automec Oyj had similar good news — sales for the first half of the year have doubled year-over-year, with a sunny outlook for the remainder of 2004. Finally, music to any investor's ears: LaFox, Ill.-based Richardson Electronics Ltd. announces a cash dividend of 4 cents a share, payable at the end of August.
- In the biggest bit of news of the week, Binghamton, N.Y.-based Universal Instruments Corp. replaced one Ian with another. Longtime president Ian McEvoy is leaving the company and the electronics industry, and will be replaced by current Senior Vice President of Operations and Systems Ian deSouza. In other personnel news, Ashburn, Va.-based ZESTRON America added three new members to its Applications Technology Department, namely Rodolfo Moctezuma, Ravi Parthasarathy and Thien Vu, and Redmond, Wash.-based Prototron Circuits added Norman Turner as its East Coast accounts manager and Felipe Alvarado as sales engineer in its San Diego office.
- In partnership news, San Francisco-based Fabrinet signed a volume supply agreement with Eatontown, N.J.-based Opnext Inc., while San Jose, Calif.-based Venture Outsource Group announces that Tampa, Fla.-based Precision Communication Services enrolled in its Circle of Providers program, which helps outsource providers expand their businesses and assists OEMs in making outsourcing decisions. Finally, Redwood Shores, Calif.-based Wherify Wireless Inc. is using Flextronics to develop and manufacture its CDMA GPS locator phone.
- Looking ahead, the Minneapolis-based SMTA is offering dial-in options for its Lead-free Soldering Symposium taking place during SMTA International in Chicago at the end of September. In the same vein, Joseph Fjelstad, who co-founded a Silicon Valley startup that works with copper-based electronic circuit technology, will keynote PCB East 2004 at the beginning of October in Manchester, N.H., focusing on the impact of lead-free on PCB design. Finally, NEPCON Texas will return in mid-October to Arlington, Texas, due to the economic upturn.
- Finally, some interesting surveys and looks at the industry were released this week. Milwaukee-based Rockwell Automation announced the results of a survey it conducted earlier this year on relationships between manufacturing OEMs and end users, revealing that both groups think of OEMs as a good source of industry trend advice. Scottsdale, Ariz.-based In-Stat/MDR analyzed semiconductor manufacturing giant Intel, revealing several challenges facing the company, including changes in its manufacturing strategy, rampups in capacity and shifting to new production processes. Finally, according to San Mateo, Calif.-based ElectroniCast Corp., global consumption of multifiber transmit link components will rise from $53.4 million in 2003 to $407 million in 2008.
This just in: According to this week's Quick Vote, 75 percent of you work for companies that intend to introduce new products by the end of the year. Send them to me when they come out; we'll keep you informed.
Have some insight on the industry? See something you don't agree with? Think I'm right on? Send it all to me at christinef@pennwell.com.