Smartflex Systems Inc.: The Tustin provider of...

Smartflex Systems Inc.: The Tustin provider of electronic assemblies and subassemblies said net income for the first quarter fell to $234,000, or 4 cents a share, from $1.9 million, or 30 cents a share, for the first quarter of the prior year. Revenue declined 24% to $30.3 million from $40.0 million. The company said revenue was affected by a shortage of available components for several major programs.