Excellent Q3 results
AimGlobal Technologies, EMS Division, Aimtronics reports record third quarter
earnings
Third quarter revenue increases 100%
AMEX and TSE: AGT
TORONTO, Feb. 3 /CNW/ - AimGlobal Technologies (TSE, AMEX: AGT) today
announced record sales for the third quarter FY00 ending December 31, 1999.
The company confirmed revenues increased 33% over the second quarter of fiscal
2000 to $24 million, up from $18 million, or an increase of 100% over revenues
of $12 million for the same quarter of fiscal 1999. The company reported
income from operations for the third quarter of $620,000 or 5.5 cents per
share for the quarter compared to a loss of $2.2 million or a loss per share
of 19.8 cents in the second quarter of fiscal 1999.
Mr. Steve deJaray, President of AimGlobal Technologies stated, ``The
company's third quarter is a result of some twenty months of aggressive
investing in EMS operations and the introduction and execution of corporate-
wide strategic initiatives. These ongoing initiatives include the areas of ERP
(Enterprise Resource Planning) computerization, and an advanced materials
strategy. We have positioned the company to provide a fully comprehensive set
of electronics manufacturing services and related solutions. Through these
initiatives we have garnered many new customers which have contributed to
record quarterly revenues, and can expect the company's performance to exceed
the growth rate of this high-growth industry.'
The company announced it has reached an agreement to sell its gas safety
products division, Aim Safe-Air Products Ltd. The cash sale is expected to
close over the next four weeks. Although the prospects for Aim Safe-Air
Products Ltd. continue to be excellent, the capital required to further
finance Aim Safe-Air's accelerated growth plans would require additional
capital and would have meant AimGlobal Technologies diluting its interests.
Mr. Michael Marti, President of Aimtronics, confirmed, ``This past
quarter has seen us successfully attract several high profile partnerships in
the field of wireless communications and telecommunications. This is directly
a result of our proprietary skill set in the areas of engineering and
manufacturing microelectronics, RFI and EMI shielding, chip-scale packaging,
and thick-film hybrid production. Aimtronics' partnership approach and our
ability to integrate technologies poise the company to take full advantage of
the upside potential of an EMS marketplace that is growing in excess of 4
times the global GDP. With the successful divestiture of our non-core assets,
management is able to fully focus its efforts on meeting the advanced
technological manufacturing requirements of a sophisticated target market
niche. We are certain that execution of our current marketing strategy will
continue to balloon our record $110 million dollar backlog.'
The company will be announcing a date in the very near future for a
conference call to discuss Q3 FY00 operating results and the most successful
quarter in the company's history.
About Aimtronics Corporation
Aimtronics, a wholly owned subsidiary of AimGlobal Technologies (TSE,
AMEX: AGT) offers a complete range of Electronics Manufacturing Solutions and
is a leading technical provider of services in the Microelectronics industry.
Aimtronics' supply chain management solutions offer design assistance -
reducing time-to-market metrics, time-to-volume metrics, full product testing,
packaging, warranty service, and end-of-life support. Aimtronics'
Microelectronics Technology Centre provides proprietary thick film hybrid
design and assembly including Chip-on-Board, Multi-Chip Module, and Flip-Chip
technologies.
Through five facilities located across the country Aimtronics' serves the
high technology markets through out North America.
About AimGlobal Technologies Company
Founded 14 years ago, and through two operating subsidiaries, AIMGlobal
Technologies serves the Medical, Aerospace, Communications, Industrial,
Military, Emergency Services and Consumer markets. With operations in New
York State, Ontario and British Columbia, AIMGlobal Technologies is a
recognized technical innovator and a leading manufacturer of proprietary
microelectronic solutions.
Safe Harbor Statement
Certain information in this press release contains ``forward looking
statements'within the meaning of the Securities Exchange Act of 1934,
including those concerning the Company's future results and strategy. Actual
results could differ from those in the forward looking statements due to a
number of uncertainties, including, but not limited to, the demand for the
Company's products and services; the size, timing and recognition of revenue
from significant orders; increased competition, changes in Company strategy;
product life cycles; the impact of rapid technological advances, evolving
industry standards, changes in customer requirements, and fluctuations in
foreign exchange rates.
The Company's expense levels are based, in part, on its expectations as
to future revenue and a significant portion of the Company's expenses do not
vary with revenue. As a result, if revenue is below expectations, results of
operations are likely to be materially adversely affected.
For More Information
Visit Aimtronics at www.aimtronics.com
%SEDAR: 00004308E
For further information: AimGlobal Technologies Company Inc., Megan
Simms-Beatty (604) 205-7609, celluar (604) 209-1760, www.aimtronics.com
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