SMTC increases revenue for second quarter of 2010

SMTC, an electronics manufacturing services provider, has reported increased revenue for the 2010 second quarter.

Revenue for the quarter increased quarter over quarter by 82 per cent to $71.2m and up sequentially by $9.8m or 16 per cent over the first quarter of 2010.

Net income for the quarter at $3.2m is $1.1m, or 52 per cent higher than the preceding quarter. For the second quarter of 2009, the company incurred a net loss of $3.4m.

Gross profit for the second quarter was $8.4m or 11.8 per cent of revenue compared with $6.4m or 10.4 per cent for the previous quarter and $4m or 10.2 per cent for the second quarter of 2009, and, according to the company, increased primarily due to the rise in revenue.