SMTC Corporation Announces Third Quarter Results

TORONTO, Nov. 04, 2020 (GLOBE NEWSWIRE) -- SMTC Corporation (Nasdaq: SMTX), a global electronics manufacturing services provider and winner of Frost & Sullivan’s 2019 Best Practices Award for Customer Value Leadership in the Electronics Manufacturing Services Industry, today announced its third quarter 2020 results.

Business Highlights

  • Third quarter 2020 revenue of $99.5 million, up 10.1% vs. the prior quarter and 12.3% vs. the prior year
  • EPS was $0.04 and Adjusted EPS was $0.13, compared to $0.03 and $0.08 in the prior quarter, respectively
  • Net Income was $1.2 million, EBITDA was $5.3 million, compared to $1.0 million and $5.8 million in the prior quarter, respectively
  • Adjusted Net Income was $3.8 million, Adjusted EBITDA was $7.5 million, compared to $2.4 million and $6.4 million in the prior quarter, respectively
  • $46 million of awards and orders booked in the third quarter, from new and existing customers
  • All facilities remain open, in operation and in compliance with applicable COVID-19 health and safety measures
  • Subject to debt covenants, the Company had access to additional borrowing capacity of $30.5 million under SMTC’s asset-based lending credit facility and reduced its debt-to-adjusted EBITDA ratio to 2.55 (excluding leases) as of September 27, 2020
  • With ongoing sales momentum, recent customer awards, strong bookings-backlog, and planned operating efficiencies, the Company currently expects revenue and Adjusted EBITDA for the full year 2021 are expected to range between $430 million and $450 million in revenue and adjusted EBITDA to range between $33.0 million and $37.0 million                               
$s millions (except EPS) Q3 2020 Q2 2020 Change Q3 2019 Change
Revenue$99.5$90.410.1%$88.712.3%
GAAP     
Gross Profit$11.1$10.73.9%$8.924.7%
Gross Profit Percentage11.2%11.8% 10.0% 
Net Income (Loss)$1.2$1.030.2%($5.7) 
EPS$0.04$0.030.0%($0.20) 
Non-GAAP     
Adjusted Gross Profit$12.5$11.76.8% $10.8 16.7 %
Adjusted Gross Profit Percentage 12.6% 13.0%   12.1%  
Adjusted Net Income $3.8 $2.4 57.4 % $2.1 80.8 %
Adjusted EPS $0.13 $0.08 56.6 % $0.08 71.2 %
Adjusted EBITDA $7.5 $6.4 17.5 % $6.3 20.2 %
Adjusted EBITDA Percentage 7.6 % 7.1 %   7.1 %  
Net Debt $85.9 $84.6 1.5 % 84.4  

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11  Next Page »
Featured Video
Latest Blog Posts
Sanjay GangalEDACafe Editorial
by Sanjay Gangal
Industry Predictions for 2025 – Cofactr
Sanjay GangalEDACafe Editorial
by Sanjay Gangal
EDACafe Industry Predictions for 2025 – Everspin
Jobs
Senior Firmware Architect - Server Manageability for Nvidia at Santa Clara, California
Senior Platform Software Engineer, AI Server - GPU for Nvidia at Santa Clara, California
GPU Design Verification Engineer for AMD at Santa Clara, California
CAD Engineer for Nvidia at Santa Clara, California
Sr. Silicon Design Engineer for AMD at Santa Clara, California
Upcoming Events
CHIPLET SUMMIT 2025 at Santa Clara Convention Center Santa Clara CA - Jan 21 - 23, 2025
ESD Alliance "Savage on Security” Webinar at United States - Jan 23, 2025
SEMICON Korea 2025 at Hall A, B, C, D, E, GrandBallroom, PLATZ, COEX, Seoul Korea (South) - Feb 19 - 21, 2025
DVCon U.S. 2025 at United States - Feb 24 - 27, 2025



© 2025 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise