SMTC reveals first-quarter financial figures

SMTC, an electronics manufacturing services provider, has announced revenues for the first quarter of 2010 of $61.4m (£41.3m), increasing sequentially by $10.2m, or 20 per cent, and $16.5m, or 37 per cent, higher than the first quarter of 2009.

Net income for the quarter was $2.6m, or $0.18 per share, which compared with net income of $1.7m, or $0.12 per share, in the fourth quarter of 2009.

The net loss of the comparable period last year was $2.5m and included restructuring charges and losses from discontinued operations.

Gross profit for the first quarter at $6.4m compares with $5.9m in the previous quarter and $3.9m for the first quarter of 2009.