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Leading MEMS Manufacturer Achieves 10 Consecutive Profitable Quarters, While Absorbing Both Acquisition Costs and Global Economic Downturn
Tronics, a leading global integrated manufacturer of custom MEMS, today announced that 2008 revenue totaled 11 million Euros ($16.3 million), representing a 5 percent increase (13 percent USD) compared to 2007. Net profit for 2008 totaled 8 percent of revenue or 858,000 Euros ($1.3M).
Tronics was profitable and achieved growth and generated cash while absorbing the cost of its U.S. expansion in the fourth-quarter. The company ended 2008 with its 10th consecutive profitable quarter. These achievements were realized against a steadily declining global economic environment in the fall. With a strong balance sheet that includes more than 5 million Euros cash and a debt/equity ratio below 30 percent, Tronics is well positioned to manage its business in 2009 and continue its expansion in 2010 and beyond.
Tronics extended its global reach and industry scope by creating a U.S. operation in Dallas and acquiring a full-service medical device design-and-development group based in Sunnyvale. These two strategic events are aligned with Tronics' goals of penetrating the medical device sector and meeting the growing demand for custom MEMS components manufacturing in the United States, Europe and Asia.
"Tronics' business fundamentals and operations are on secure footing. Even though we are facing a reduced demand from markets like oil exploration and aerospace in 2009, we are in a far better position than many companies in our field," said Peter Pfluger, CEO of Tronics. "Furthermore, our U.S. entities are already well integrated and operational. We are realizing the first synergistic benefits of our new operations in our U.S. and medical businesses."
Tronics' MEMS manufacturing operations in Crolles and Dallas have an annual capacity of more than 60,000 wafers in addition to assembly and packaging capabilities.
Tronics is a global leading integrated manufacturer of custom MEMS. With operations in the U.S. and Europe and representation in Asia, Tronics provides local support to customers and offers one of the broadest technology portfolios in the industry. The company transforms MEMS concepts into products and builds reliable supply chains for integrated components. Tronics services range from R&D prototyping to high-volume MEMS manufacturing, including electronic interface development, assembly and custom packaging, with additional capabilities in medical device development.
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