Multi-Fineline Electronix raises sales but has lower yields

Multi-Fineline Electronix, a provider of flexible printed circuits and component assembly to the electronics industry, has reported net sales in the third quarter of fiscal 2010 of $181m (£114m), an increase of 3.7 per cent from net sales of $174.5m in the same period of the prior year.

According to the company, the increase in net sales was due primarily to strong demand from smartphone product introductions.

Gross margin during the third quarter of fiscal 2010 declined to 12.3 per cent, compared to 14.3 per cent for the same period in the prior year and 14.5 per cent in the second quarter of 2010, primarily due to lower yields.