PORTLAND, Ore. MEMS maker Tronics Microsystems SA is reporting a 5 percent increase in revenues for 2008 compared to the previous year despite declining sales in key markets like aerospace.
Tronics (Crolles, France), said Wednesday (April 15) that its net profit totaled 8 percent of revenue for 2008, down from 12 percent in 2007.
"Tronics was able to maintain continued growth for the tenth consecutive quarter despite a slowdown in the oil exploration and aerospace sectors of our business," said Vincent Gaff, manager of marketing and business development at Tronics.
Tronics also grew despite 2008 capital expenditures used to finance its U.S. subsidiary, Tronics MEMS Inc. The Dallas-based fab along with an existing fab at Crolles brings its MEMS wafer manufacturing capacity to 60,000 wafers annually.
Tronics also made capital expenditures in 2008 to acquire MedTech Development (Sunnyvale, Calif.), expanding its custom design services for medical electronics devices.
Tronics 2008 revenue totaled $16.3 million, compared to $15.4 million in 2007, for a net profit of $1.3 million in 2008 compared to $1.9 million the previous year. Tronics said its balance sheet includes $6.6 million in cash and a debt/equity ratio below 30 percent.
Of the four major market sectors Tronics serves--industrial sensors, oil exploration, aerospace and medical electronics--only medical has yet to slow due to the global recession. Tronics said it experts to at least break even in 2009, and return to double-digit growth in 2010.
The company focuses on custom design services backed by in-house manufacturing of its MEMS chips, including electronic interfaces, assembly and custom packaging.