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Eye On Business
Curtiss-Wright Controls, Inc. ( Gastonia , NC ) has acquired Dy 4 Systems ( Ottawa , ON , Canada ) for approximately $110 million from Solectron ( Milpitas , CA ). In addition, the company has restructured its Electronic Systems organization and will now be organized around two major capabilities: Electronic Systems and Mechanical Systems. The Electronic Systems organization will be further segmented around two major markets: Embedded Systems and Integrated Sensing. Dy 4, VISTA Controls ( Valencia , CA ), Peritek ( Oakland , CA ) and Systran ( Dayton , OH ) will all be part of the Embedded Systems organization.
Mikron Infrared, Inc. ( Oakland , NJ ) set a record sales and operating income for the company. Domestic sales for FY2003 were 20% higher than the previous fiscal year. Total net sales were $23,058,982 for FY2003, compared to the FY2002 figure of $12,797,190. Operating income was $1,985,552, compared to $741,534 of operating income for FY2002. Total net sales for the three months ended October 31, 2003 were $6,194,353 ? a 20% increase for the comparable quarter the previous year ($3,414,982).
Fourth-quarter revenues for Tower SemicondUCtor Ltd . ( Santa Clara , CA ; Migdal HaEmek , Israel ) were $19.8 million, an increase of 23% over last quarter's figure of $16.1 million. In Q4 2002, the company reported revenues of $15.6 million, including $4.0 million from a technology-related agreement. Total fourth-quarter loss was $46.0 million, compared with a loss of $37.1 million for Q3 2003 and a loss of $13.6 million in the fourth quarter of 2002. Revenues for the 12 months ended December 31, 2003 were $61.4 million, compared with revenues of $51.8 million the previous 12 months, which included $8.1 million from a technology-related agreement. The company reported a 12-month loss of $114.3 million, compared to the previous 12-month loss of $37.3 million.
Axis Communications AB ( Lund , Sweden ) reported net sales for 2003 at SEK 624 million ($670 million), a decline of 7% compared with the previous year. According to the company, the sales trend was overshadowed by a sharp weakness in the U.S. dollar exchange rate and a restrained IT market. The currency effects, in total, negatively affected sales by SEK 71 million, with SEK 14 million attributed to the fourth quarter. Despite the negative sales growth, the network video solutions sector showed a sales growth of more than 18% for the entire year. The growth ? measured in local currencies ? was more than 30% in both EMEA and the U.S. Sales for the fourth quarter was SEK 163 million ($168 million). Sixty-four percent of sales came form video, an area that showed a growth of 22% the previous year.LEARN MORE
Axis Communications AB
Curtiss-Wright Controls, Inc.
Dy 4 Systems, Inc.
Mikron Infrared, Inc.
Tower Semiconductor Ltd.