The $.10 loss is consensus est. from firstcall. Published in Investor's Business daily. You should be able to get press releases at www.sheldahl.com. I can't get connected this morning. Go to techweb search and type sheldahl. Here is a story you will find........
June 24, 1996, Issue: 1012
Section: Components
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Sheldahl Posts Strong Third Qtr.
By Diane Norman
Chicago - While Sheldahl Inc. reported strong results for the latest quarter, the company expects some weakness over the next three months.
For the third fiscal quarter ended May 31, Sheldahl had sales of $29.7 million, up 18% from $25.2 million in fiscal 1995. Net income was $1.5 million, up from $780,000 in the year-ago period.
For the first nine months of its fiscal year, Sheldahl's sales increased 24%, to $84.7 million from $68.2 million in fiscal 1995. Net income reached $4 million, an increase of 175% from $1.4 million in the first nine months of fiscal 1995.
"Sheldahl's core interconnect and materials businesses are growing nicely, as shown by the company's financial performance for the quarter and year-to-date," said James Donaghy, president and chief executive of the Northfield, Minn., company. "We expect this growth to continue in the fourth quarter."
However, shipments in Sheldahl's Longmont, Colo., facility will not be as high as expected, Donaghy said.
The Longmont plant manufactures IC and chip-carrier substrates based on the company's proprietary Novaclad and ViaGrid technologies.
The substrates are thin, flexible, and heat-resistant, enabling designers to create electronic components that are small, fast, and cost-effective to produce.
"Because of stepped-up operating costs as Longmont increased production, the company's fourth-quarter and fiscal year-end net income will not meet expectations," Donaghy said. "Product qualification for a major customer is taking longer than expected."
He cited variability problems in the integrity of wire bonds used to attach the IC to the chip carrier during the customer's assembly process.
"Sheldahl and the customer have extended the product ramp-up period to ensure consistent product quality," Donaghy said.
Sheldahl produces flexible-printed circuitry, flexible laminates, and highdensity substrates, primarily for the automotive electronics and data communications markets.
Copyright (c) 1996 CMP Media Inc. |
