SMTEK Posts Big Jump in Revenues and Earnings

SMTEK International Inc. in Thousand Oaks, a provider of electronics manufacturing services, said revenues for its fiscal first quarter that ended Sept. 30 grew 38% to $20.9 million, from $15.2 million a year earlier.

Net income for the three months was $315,000 or 14 cents per share, compared with $135,000 or 6 cents per share in the first quarter of last year.

“We are pleased with the company’s performance, considering the impact of significant industry-wide shortages of electronic components,” said Gregory L. Horton, president and chief executive. “SMTEK experienced strong bookings and bidding activity in the first quarter, with backlog more than doubling to a record $76 million from $35 million one year ago.”

SMTEK services original equipment manufacturers in the computer, telecommunications, instrumentation, medical, industrial and aerospace industries.

The company’s operations are in Thousand Oaks, San Diego, Fort Lauderdale, Fla., and Craigavon, Northern Ireland.