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SMS Reports 30% Revenue Growth in FY2017
July 2, 2018 | SMS ElectronicsEstimated reading time: 1 minute
UK-based EMS firm SMS Electronics Ltd has announced a 30% increase in revenue in its fiscal year 2017. SMS has made several investments in talent, technology and intelligence to secure its place as partner of choice for UK electronics manufacturing, supply chain solutions and PCB assembly (PCBA).
Its operating performance figures indicate that a significant portion of this increase in revenue can be aligned to the company’s investment in New Product Introduction (NPI) and prototyping equipment, creating a dedicated Developmental Center within their current electronic manufacturing environment. In 2017, SMS installed a Mycronic MY600 Jet Printer and the Mycronic MY200SX Placement for state-of-the-art development. Through these investments, the company was able to address and close the gap between technology advancements and their capability.
In 2017, Craig Taylor, CFO of SMS, stated that the UK electronics manufacturing fulfilment model had changed from build-to-print, through to a consultative approach due to the demand for lower volume manufacturing with complex configuration, or customized integration. The drive-in demand for NPI and prototyping fits perfectly into the sweet spot of SMS’s capability roadmap, as the company can accommodate lower volume/high mix through their dedicated Development Center, while continuing to support the customer as they scale by having three surface mount lines.
The speed of performance is essential within NPI, and equipment that SMS has invested in is making the whole design and development process more efficient. One example is the removal of stencils as the company’s printer has a built-in inkjet. Small steps like this increase productivity, which in turn increases yield.
Another facet to SMS’s growth can be contributed to the fact that during 2017, the company opened its doors to host various events of interest to mechanical and electronic design engineers, design houses and universities. Being situated in Nottingham, SMS is in a fortunate geographical position, with high caliber academic establishments such as Nottingham, Loughborough, Manchester.
Universities such as Loughborough offer wonderful and very respected engineering and manufacturing courses, with product design and patents which stem from these educational establishments. SMS works in close collaboration with academia to offer their services as a manufacturing arm, often operating as a product realization center for students’ innovative designs.
“We enjoy this type of collaboration as we see it as nurturing the minds and product innovation today, for tomorrow’s world,” said Taylor.
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