MOUNTAIN VIEW, Calif., Feb. 04, 2013 /PRNewswire/ -- Based on its recent analysis of the electronics manufacturing services (EMS) market, Frost & Sullivan recognizes SMTC Corporation with the 2013 North America Frost & Sullivan Award for Growth Leadership. Each year, Frost & Sullivan presents this award to the company that demonstrates excellence in capturing the highest annual compound growth rate for the past three years.
SMTC's strong customer centric focus has bolstered its value offerings and, thereby, market prospects. The company recorded an overall growth of more than 70.0 percent in Q3 2012 over Q3 2011 and garnered a high forward-earning projection (18.8 percent), outstripping even tier one EMS providers.
SMTC Corporation's efforts to enhance its levels of service and quality have helped it retain its customer base and increase revenue shares. The company's comfort in dealing with high volumes as well as low-to-mid volume production enables it to cater to diverse end-user segments.
"Importantly, SMTC offers cost optimization benefits without compromising quality and delivery performance for its wide customer base," said Frost & Sullivan Research Analyst Lavanya Rammohan. "The company also partners with customers to provide not just manufacturing, but engineering and design solutions as well, thereby tightening integration and long-term relationships."
"We are pleased to have our growth be recognized by Frost and Sullivan," stated Claude Germain, co-Chief Executive Officer at SMTC. "Two of our strategic objectives are related to delivering profitable top line growth – generating new account revenues from Business Development, and growing share of wallet from existing accounts via superior Account Management. Combined these strategic initiatives are aiming to deliver, over the long term, a 10% year over year organic revenue growth. As part of this effort, we continue to target midmarket international OEM's, especially in the industrial, telecom and computing industries."
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry.
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About SMTC Corporation: SMTC Corporation, founded in 1985, is a mid-size provider of end-to-end electronics manufacturing services (EMS) including PCBA production, systems integration and comprehensive testing services, enclosure fabrication, as well as product design, sustaining engineering and supply chain management services. SMTC facilities span a broad footprint in the United States, Canada, Mexico, and China, with more than 2,300 employees. SMTC services extend over the entire electronic product life cycle from the development and introduction of new products through to the growth, maturity and end-of-life phases. SMTC offers fully integrated contract manufacturing services with a distinctive approach to global original equipment manufacturers (OEMs) and emerging technology companies primarily within industrial, computing and communication market segments. SMTC was recognized in 2012 by Frost & Sullivan with the Global EMS Award for Product Quality Leadership.
SMTC is a public company incorporated in Delaware with its shares traded on the Nasdaq Global Market under the symbol SMTX. For further information on SMTC Corporation, please visit our website at www.smtc.com.
Note for Investors: The statements contained in this release that are not purely historical, including our expectations regarding continued revenue and earnings growth in 2013, are forward-looking statements which involve risk and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. These statements may be identified by their use of forward looking terminology such as "believes", "expect", "may", "should", "would", "will", "intends", "plans", "estimates", "anticipates" and similar words, and include, but are not limited to, statements regarding the expectations, intentions or strategies of SMTC Corporation. For these statements, we claim the protection of the safe harbor for forward-looking statements provisions contained in the Private Securities Litigation Reform Act of 1995. Risks and uncertainties that may cause future results to differ from forward-looking statements include the challenges of managing quickly expanding operations and integrating acquired companies, fluctuations in demand for customers' products and changes in customers' product sources, competition in the EMS industry, component shortages, and others discussed in the Company's most recent filings with securities regulators in the United States and Canada. The forward-looking statements contained in this release are made as of the date hereof and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ materially from those projected in the forward-looking statements.
Investor Relations Information: Public Relations Information: Claude Germain Tom Reilly President and Chief Executive Officer Director of Marketing Telephone: (905) 413.1272 Telephone: (905) 413.1188 Email: email@example.com Email: firstname.lastname@example.org or John Nesbett/Jennifer Belodeau Institutional Marketing Services (IMS) Telephone: (203) 972-9200 Email: email@example.com
Investor Relations Information:
Public Relations Information:
President and Chief Executive Officer
Director of Marketing
Telephone: (905) 413.1272
Telephone: (905) 413.1188
John Nesbett/Jennifer Belodeau
Institutional Marketing Services (IMS)
Telephone: (203) 972-9200
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