Finance News.

Electronics Outlook 2014: Low-Growth & Uncertainty

The electronics market is sliding into low growth or even negative growth territory with many of the industry’s bellwether manufacturers rolling out fourth quarter revenue guidance that have largely fallen short of analysts’ consensus estimate. And while almost nobody is trotting out the dreaded “downturn” word yet, concerns are building up in the industry over…

Flextronics Wins HP Brazil Contract

Flextronics International Ltd. said it has signed a contract with Hewlett-Packard Co. to provide design chain, manufacturing and other supply chain management services in Brazil to support the company’s printing and personal systems business in the South American country. Under the terms of the agreement, Flextronics is expected to offer a wide range of services…

Flextronics Net Drops on Higher Costs

Flextronics International Ltd. reported profits for the fiscal 2014 second quarter shrank as the company faced higher operating costs and on a small decline in gross profit margins. The company said it believes cost-cutting measures introduced earlier in the year would help it improve the total operating structure. Net income at the top-tier electronics manufacturing…

Vishay Trims Q4 Outlook as Sales Drop

Vishay Intertechnology Inc. today disclosed why it is embarking on a cost-cutting and employee reduction program noting in a release that third quarter revenue and profits came in below investors’ and the company’s expectations. Its sales forecast for the December quarter were similarly lackluster indicating demand for its products remain weak. Malvern, Pa.-based Vishay reported…

Vishay Unveils Sweeping Cost-Cutting Actions

Vishay Intertechnology Inc. has announced a batch of workforce reduction measures to lower its selling, general and administrative expenses as well as actions that would impact its MOSFETs business and result in the transfer of some semiconductor wafer manufacturing to contractors. The program was announced one day ahead of the company’s scheduled release of its…

Avnet Taps Buseman for Key Exec Role

Avnet Inc. has named Michael Buseman chief global logistics and operations officer, appointing the EMS industry veteran to the position recently vacated by Gerry Fay who now heads the company’s global electronics components distribution business. Buseman, who joins Avnet from electronics manufacturing services (EMS) provider Plexus Inc., where he headed the $2 billion revenue company’s…

ST Delivers ‘Mixed’ Q3 Results

STMicroelectronics NV reported a smaller loss for the September quarter on a sharp reduction in impairment and restructuring charges but the chipmaker is still facing headwinds in several of its markets in addition to industrywide inventory correction and softer demand across the semiconductor market. In response, ST said it will continue to focus on growth…