Conceptronic's annual meeting held; Second quarter loss predicted.PORTSMOUTH, N.H.--(BUSINESS WIRE)--June 25, 1996--At Conceptronic's annual meeting today, Garry Prime, chairman, reviewed new products, manufacturing productivity improvements and new worldwide sales initiatives as well as trends for the company's second quarter. New products include the successful introduction of a rework re·work tr.v. re·worked, re·work·ing, re·works 1. To work over again; revise. 2. To subject to a repeated or new process. n. station designed for the latest surface mount technology, BGA (Ball Grid Array) A popular surface mount chip package that uses a grid of solder balls as its connectors. Available in plastic and ceramic varieties, BGA is noted for its compact size, high lead count and low inductance, which allows lower voltages to be used. , as well as an advanced cooling system cooling system: see air conditioning; internal-combustion engine; refrigeration. cooling system Apparatus used to keep the temperature of a structure or device from exceeding limits imposed by needs of safety and efficiency. for the company's solder reflow ovens. New sales initiatives over the last year include a new director of sales and a new regional sales manager sales manager n → gerente m/f de ventas sales manager n → directeur commercial sales manager sale n → in the Far East. Second quarter results are expected to be below break-even for the first time in six quarters. Results have been impacted by a sharp slowdown early in the quarter which is now over and continuing pricing pressure in the market. "While the company's successful production, engineering and quality initiatives have enabled us to regain our product leadership role, price competition has been severe as a result of over-capacity in the industry. While it is too early to predict the balance of the year, volume has increased in the latter part of the quarter and I remain optimistic that we will soon resume our overall growth in both sales and profits," Prime said. This release contains forward-looking statements based on current expectations that involve a number of risks and uncertainties. The factors that could cause actual results to differ materially include the following: general economic conditions and growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. in the SMT (1) (Surface Mount Technology) See surface mount. (2) (Station ManagemenT) An FDDI network management protocol that provides direct management. Only one node requires the software. SMT - Station Management circuit manufacturing industry and related industries, including but not limited to the printed circuit board industry; competitive factors and pricing pressures; changes in product mix; changes in the seasonality of demand patterns; the timely development and acceptance of new products; inventory risks due to shifts in market demand; component constraints and shortages; risks of nonpayment of accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying ; ramp up Ramp Up To increase a company's operations in anticipation of increased demand. Notes: A company might 'ramp up' operations if they just signed a contract creating substantially more demand for their product. See also: Demand, Economies of Scale and expansion of manufacturing capacity; and the risks described from time to time in the company's SEC reports. Conceptronic Inc., is a leading worldwide manufacturer of highly advanced, computer-controlled capital equipment used in the electronic, SMT circuit soldering industry. Conceptronic's equipment is preferred by most of the world's largest automotive, telecommunications, aerospace, computer and contract assembly manufacturers. CONTACT: Conceptronic Inc. (U.S.A) Bill Gray, 603/431-6262 Fax: 603/431-3303 |
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