Global Sources
EE Times-Asia
Stay in touch with EE Times Asia
?
EE Times-Asia > Manufacturing/Packaging
?
?
Manufacturing/Packaging??

Integrated Performance Systems announces financial results

Posted: 19 Jun 2006 ?? ?Print Version ?Bookmark and Share

Keywords:financial result? Integrated Performance Systems? EMS? manufacturing? PCB?

Integrated Performance Systems Inc., an electronic manufacturing services company that designs, engineers and manufactures PCBs, announced its financial results for the three and nine months ended April 30, 2006.

Revenue for the three months ended April 30, 2006 increased 3.1 percent to $8,880,509, as compared to $8,615,431 for the same period in 2005. Revenues for the nine months ended April 30, 2006 increased 13.3 percent to $26,017,314, as compared to $22,972,424 for the same period in 2005. The increase in revenue during the three and twelve months of 2006 was said to be the result of continuing strong sales. Sales to the company's top ten customers increased by 10.1 percent and 21.3 percent for the three and nine months ended April 30, 2006 respectively compared to the same period in 2005.

Gross profit for the three months ended April 30, 2006 was $1,829,649 compared to $1,756,171 for the same period in 2005, an increase of $73,478 or 4.2 percent. Gross profit for the nine months ended April 30, 2006 was $5,131,329, versus a gross profit of $3,917,188 for the same period in 2005. Gross margin improved to 21 percent and 20 percent for the three and nine months ended April 30, 2006 from 20 percent and 17 percent, respectively, for the same period in 2005. The increase in gross margin is due to an increase in sales resulting in fixed costs being spread over a larger number of units produced, and consistent demand for premium services, which typically command a higher margin.

Net income available to stockholders for the three months ended April 30, 2006 increased 111 percent to $200,083, as compared to net income of $94,447 for the same period in 2005. Net income for the nine months ended April 30, 2006 increased to $492,689, as compared to a loss of $11.6 million for the same period in 2005. This increase in net income is mainly due to the increase in sales to our top ten customers.

"We showed solid growth with our third quarter and nine months financial results, particularly our gross profits and the generation of cash," observed Brad Peters, vice president and chief financial officer of Integrated Performance Systems. "We have current assets substantially in excess of current liabilities. Based on our current level of operations, we believe that cash provided by operations along with funds available under our new five-year term loan will be sufficient to fund our working capital needs, finance capital expenditures and service our debt for the next twelve months and beyond."




Article Comments - Integrated Performance Systems annou...
Comments:??
*? You can enter [0] more charecters.
*Verify code:
?
?
Webinars

Seminars

Visit Asia Webinars to learn about the latest in technology and get practical design tips.

?
?
Back to Top