| Over a month ago | ||||
Conference call with… Conference call with management to be held on May 18 hosted by B. Riley FBR. | ||||
| Over a quarter ago | ||||
Sees FY20 adj. EBITDA… Sees FY20 adj. EBITDA $29M-$31M, up 17%-25% from FY19. | ||||
Reports Q4 revenue… Reports Q4 revenue $90.2M, two estimates $90.17M. Reports Q4 adj. EBITDA $7.0M vs. $6.5M last year. "In the fourth quarter we continued to expand our customer base with multi-year awards in excess of $31 million from three leading global avionics, aerospace and defense technology companies, which we announced on January 8, 2020. Thus far in the first quarter of 2020, we have added four new customers and four programs from existing customers with the potential revenue in excess of $20 million. Our successful integration of MC Assembly resulted in the ability to increase our scale and further improve our operational efficiencies. Our activities also resulted in our achieving best-in-class among our Tier III EMS peers for key performance measures, including Gross Profit Percentage, Adjusted EBITDA and Adjusted EBITDA Percentage all of which increased even faster than our revenue growth" said CEO Ed Smith. | ||||
SMTC Corporation… SMTC Corporation announced it has been awarded in excess of $31M in new business from three leading global avionics, aerospace and defense technology companies. Initial production is expected to begin in mid-2020. | ||||
Southwest Ideas… Southwest Ideas Conference will be held in Dallas on November 20-21. | ||||
Southwest Ideas… Southwest Ideas Conference will be held in Dallas on November 20-21. | |
Craig-Hallum analyst… Craig-Hallum analyst Christian Schwab lowered his price target for SMTC Corp. to $6 from $9 after the company announced its plans to exit its operations in China once its facility lease in the country expires at the end of the year due to trade tensions and tariffs driving customer uncertainty. The company derives about 5% of revenue from China and is seeing 2019 revenue down 30% year-over-year with expectations for what would be continued declines in 2020 and ultimately a negative operating margin at the facility, he notes. The analyst adds that the company noted some softness being experienced in semiconductor capital equipment and datacenters as well as customers seeing shrinking lead times and therefore lowered inventory levels which are impacting orders in the near-term, and also introduced 2020 revenue guidance of $400M at the midpoint. Schwab reiterates a Buy rating on the shares. | |
Conference call to… Conference call to discuss plan to exit China and provide Fiscal 2019 and Initial 2020 Guidance will be held on September 20 at 8:30 am. Webcast Link | |
UP AFTER EARNINGS: … UP AFTER EARNINGS: Scholastic (SCHL) up 10.8%... Steelcase (SCS) up 5.3%. ALSO HIGHER: Etsy (ETSY) up 1.9% after being upgraded to Buy at RBC Capital. LOWER AFTER EARNINGS: SMTC Corp (SMTX) down 8.8% after cutting FY19 guidance, exiting China production. ALSO LOWER: Xilinx (XLNX) down 1.8% after announcing resignation of CFO... China Natural (CHNR) down 7.5% after being initiated with Sell at MKM Partners. Movers as of 18:30ET. | |
Guides initial FY20… Guides initial FY20 adjusted EBITDA at $29.0M-$31.0M. |