SMT Perspectives and Prospects: Artificial Intelligence, Part 5: Brain, Mind, Intelligence
Global Sourcing Spotlight: Watch Out! Avoiding Pitfalls in Global Sourcing
Nolan’s Notes: Looking Deep Into the Future With X-ray
SVI Reports Solid Results for 2015
February 26, 2016 | SVI Public Co. LtdEstimated reading time: 1 minute
Thailand-based EMS firm SVI Public Co. Ltd ended the year 2015 with solid results. Also, the acquisition of Seidel Electronics Group Companies was completed on February 17, 2016, providing the company with manufacturing facilities in Austria, Slovakia and Hungary as well as minority interests in two product design and development companies located in Austria and Slovenia.
This transaction supports the company's business in European markets, in particular the German-speaking regions where SVI is currently under-penetrated. The acquisition brings SVI a solid design, manufacturing and logistics platform in Austria and in cost-competitive Eastern European countries. The synergy generated by this acquisition, including acquisition of new customers as well as new product introductions from existing customers, will generate a top-line high-growth in 2016.
Consolidated revenues for the full year 2015 were THB 8.119 billion ($227.4 million), a decrease of 2% from the previous year, mainly due to the manufacturing disruption caused by the fire last November 12, 2015, as SVI methodically re-qualified each product and customer through the product approval process with each customer.
SVI's capacity has been gradually restored and is now back to the pre-fire level. The utilization rate continues to increase and shall be fully optimized by next year. Revenue reported in 4Q was THB 2.041 billion ($57.16 million), a solid increase of 58% compared to the same quarter last year. The segments that contributed the most to SVI's revenue are IP camera, professional audio, and automotive products.
Total annual consolidated gross profit was THB 925 million ($25.9 million) or 11% of revenue. This represents a decrease of THB 104 million ($2.9 million) from the previous year, mainly related to the transfer of materials and expenses, totaling THB 66 million ($1.85 million) made last year to fire damages claim, couple with higher depreciation costs caused by new renovation of buildings and new equipment purchased after the fire.
Share on:
Suggested Items
Sypris Appoints Rachel Ainsworth Brady, Esq. as Senior Corporate Counsel and Secretary
07/12/2024 | Sypris Solutions Inc.Sypris Solutions, Inc. announced the appointment of Rachel Ainsworth Brady, Esq. to the position of Senior Corporate Counsel and Secretary, effective July 8, 2024.
Boeing Expanding Capacity for Advanced Patriot Missile Seeker Production
11/16/2023 | BoeingBoeing has broken ground on a 35,000-square-foot expansion of its Huntsville factory that produces the Patriot Advanced Capability-3 (PAC-3) seeker.
Lockheed Martin Opens 25,000-Square Foot, $16.5M Missile Defense Lab
11/14/2023 | Lockheed MartinLockheed Martin opened a $16.5M engineering facility at its Huntsville campus, introducing more capabilities for missile defense innovation in North Alabama. This facility is a Lockheed Martin capital project and provides evidence of Lockheed Martin's investment in the Huntsville community, increasing opportunities for growth and advanced capability in North Alabama at the company's Huntsville campus. The new Missile System Integration Lab (MSIL) is where Lockheed Martin plans to conduct development, testing, and system integration for the nation's next long range ballistic missile defense interceptor.
Northrop Grumman Expands Space Technology Capabilities in Huntsville
04/06/2023 | Northrop GrummanNorthrop Grumman Corporation cut the ribbon on a new, two-building campus today located just outside of Redstone Arsenal in Huntsville, Alabama, expanding its launch and missile defense development capability.
Boeing Wins Key Missile Defense Contract, Tacking onto Two-Decade Partnership with the MDA
09/02/2022 | BoeingThe U.S. Missile Defense Agency (MDA) has awarded Boeing the Ground-based Midcourse Defense (GMD) System Integration, Test and Readiness (SITR) contract.