SMT007 Magazine

SMT-Feb2014

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94 SMT Magazine • February 2014 a Kitron expands business with Husqvarna Partnership husqvarna group has decided to renew its con- tract with Kitron and has increased the contract scope by adding new products. The annual reve- nues under the new contract could be in the range of NoK 25 million until 2017. This would repre- sent a doubling of current levels. b IeC electronics' executive VP resigns Don Doody, executive vice president, has vol- untarily resigned from the company effective January 10, 2014. w. barry gilbert, chairman and CEo, stated, "we greatly appreciate the contribution Don has made to the company over the past nine years. During his time with IEC, we have grown from a company with a lit- tle over $28 million in revenue to a $141 million company." c benchmark expects to exceed 4Q13 Guidance The company, a leading integrated product de- sign and manufacturing services provider, expects sales and earnings per share to exceed the high end of guidance for the fourth quarter of 2013. on october 24, 2013, the company provided fourth quarter guidance for sales between $685 and $715 million and diluted earnings per share between $0.34 and $0.38. d Global-Tech to Close eMS business Net sales for the second quarter of fiscal 2014 were $12.6 million, compared to $26 million for the cor- responding quarter in fiscal 2013. This decrease in net sales is primarily attributable to sharp declines in sales in the company's EMS business which, as previously disclosed, continues to be adversely af- fected by a slowing Chinese domestic market, high turnover and rapidly decreasing margins. Top Ten News Highlights from SMTonline this Month 94 SMT Magazine • February 2014

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