Management Commentary
“I am proud that our organization did an outstanding job supporting our customers and employee wellness during the pandemic and we were able to successfully navigate through the challenges presented by the COVID-19 pandemic during the year,” said Ed Smith, SMTC’s President and Chief Executive Officer. “We finished 2020 on a strong note with sales up 12.2% compared to the same quarter in the prior year and are looking forward to opportunities ahead for SMTC.”
“We saw a strong rebound and expansion in our semiconductor business in 2020 and our focus on the Industrial IoT market and our growth in the defense and aerospace industry enabled us to provide a stable and solid base to grow our business,” noted Smith.
| Twelve months ended January 03, 2021 | Twelve months ended December 29, 2019 | Change | |||||||
| Industry Sector | $ | % | $ | % | $ | % | |||
| Industrial IoT, Power and Clean Technology | 154.2 | 39.9 | 147.3 | 39.5 | 6.9 | 4.7 | |||
| Semiconductors | 52.6 | 13.6 | 23.0 | 6.2 | 29.6 | 128.7 | |||
| Medical and Safety | 44.2 | 11.4 | 45.5 | 12.2 | (1.3) | (2.9) | |||
| Retail and Payment Systems | 41.1 | 10.6 | 46.1 | 12.4 | (5.0) | (10.8) | |||
| Avionics, Aerospace and Defense | 37.3 | 9.7 | 24.7 | 6.6 | 12.6 | 51.0 | |||
| Test and Measurement | 35.4 | 9.2 | 48.7 | 13.1 | (13.3) | (27.3) | |||
| Telecom, Networking and Communications | 21.7 | 5.6 | 37.2 | 10.0 | (15.5) | (41.7) | |||
| Total | 386.5 | 100.0 | 372.5 | 100.0 | 14.0 | 3.8 % | |||
