-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueCounterfeit Concerns
The distribution of counterfeit parts has become much more sophisticated in the past decade, and there's no reason to believe that trend is going to be stopping any time soon. What might crop up in the near future?
Solder Printing
In this issue, we turn a discerning eye to solder paste printing. As apertures shrink, and the requirement for multiple thicknesses of paste on the same board becomes more commonplace, consistently and accurately applying paste becomes ever more challenging.
A Culture of Thriving
One cannot simply command thriving; it must be nurtured, developed, and encouraged. In this issue, we explore strategies to improve your working relationship model—both internally and externally. In this culture of thriving, your business will grow in the process.
- Articles
- Columns
Search Console
- Links
- Media kit
||| MENU - smt007 Magazine
Sparton Releases 1Q FY2017 Results
November 10, 2016 | Sparton Corp.Estimated reading time: 1 minute
Sparton Corp. has announced results for the first quarter of fiscal year 2017 ended October 2, 2016. Net sales reached $100.4 million, with gross profit margin of 17.2%. The company reported earnings per share of $0.01, and adjusted EPS of $0.20.
During the first quarter, the company received 64 new program wins in the MDS Segment, with expected annual revenue of $12.2 million when fully ramped up into production. MDS has trailing four quarter win revenue of $62 million, which continues to support the company's future organic growth.
"First quarter revenues came in just above the midpoint of our guidance range. However, during the quarter we remained engaged in activities related to the exploration of a possible sale of the Company and we have not yet achieved the desired level of success in addressing operating performance issues, implementing cost saving initiatives or carrying out new business development activities. We anticipate that progress in these areas will accelerate upon the completion of the current sale process, whether from an agreement for a sale of the Company or from a determination that no such sale will occur," said Joseph J. Hartnett, Interim President & CEO.
Joe McCormack, Senior Vice President and CFO, commented, "We continue to be focused on actively managing our working capital, driving free cash flow, and reducing our debt and leverage. Despite the costs associated with the exploration of a sale of the Company and increasing health care costs, we have been able to keep our overall SG&A expenses at a consistent run-rate through a continued focus on reducing our operating expenses throughout the Company."
As previously announced, the Board of Directors of Sparton is exploring a possible sale of the company. There can be no assurance that such a sale will occur.
About Sparton
Sparton Corporation, now in its 117th year, is a provider of complex and sophisticated electromechanical devices with capabilities that include concept development, industrial design, design and manufacturing engineering, production, distribution, field service, and refurbishment. The primary markets served are Medical & Biotechnology, Military & Aerospace, and Industrial & Commercial. Headquartered in Schaumburg, IL, Sparton currently has thirteen manufacturing locations and engineering design centers worldwide.
Suggested Items
Lockheed Martin Skunk Works, the Royal Netherlands Aerospace Centre (NLR) Announce Strategic Collaboration
10/21/2024 | Lockheed MartinSkunk Works®, the renowned advanced development organization within Lockheed Martin Corporation and the Royal Netherlands Aerospace Centre (NLR), a premier knowledge institute and connecting link among science, industry, and government in the Netherlands, announced a strategic collaboration to advance mutual interests for enhanced security at the Netherlands Defense Industry Days event.
Altair Drives Aerospace Innovation at Motivo
10/17/2024 | AltairAltair, a global leader in computational intelligence, is proud to announce its collaboration with Motivo, a product engineering firm focused on translating forward-thinking visions into best-in-class products for clients in the mobility, energy, agriculture technology, and aerospace sectors. Motivo utilizes Altair’s unique combination of engineering consulting and software to drive innovation for organizations in the aerospace industry.
Airbus, Toshiba to Partner on Superconductivity Research
10/16/2024 | AirbusAirbus UpNext, a wholly-owned subsidiary of Airbus, and Toshiba Energy Systems & Solutions Corporation (Toshiba), Toshiba Group’s energy arm, will cooperate and mutualise experience on superconducting technologies for future hydrogen-powered aircraft.
Cicor Group Continues to Thrive in a Challenging Market
10/15/2024 | CicorRevenue increased by 26.3% to CHF 120.4 million, bringing the year-to-date total to CHF 351.7 million. The company's strong order intake, with a book-to-bill ratio of 1.01, indicates a healthy pipeline of future business.
Thinking Out of the Box: Pacific Northwest EMS Manufacturer Employs Successful Strategies With IPC
10/15/2024 | Michelle Te, IPC CommunityAllison and Chad Budvarson started Out of the Box Manufacturing, an EMS company in Renton, Washington, just one month after they were married in 2008. To stay competitive, they’ve utilized IPC’s workforce subscription and apprenticeship programs to train and maintain their staff. "Our relationship with IPC has evolved over the past several years," Allison says. "Initially, we saw IPC for its standards. But when I started attending the EMS Leadership Summit at APEX EXPO, I realized there was so much more to IPC, which opened more doors for us, creating growth and partnership opportunities I didn't realize were possible. For one, I like having frank conversations with EMS owners from other areas of the country, and I’m not worried they will steal my 'secret sauce.'"