Micralyne Fiscal 2008/09 Results Highest Ever
Micralyne, a world leading MEMS foundry service provider, today announced revenue of C$30.6 million for fiscal 2009, an increase of 35% from the previous year’s revenue of $22.6 million. The company saw net income grow to the highest since inception, and profits as a percentage of revenue rose significantly.
Lumb said Micralyne’s performance is attributed to a stronger executive team, expanded MEMS manufacturing and quality control systems, improved MEMS product development practices, and new capital equipment additions. “We have invested strongly in new capability that directly adds value to our customers,” he said.
Like other companies in the MEMS industry, Micralyne experienced a decline in demand in the last quarter of the fiscal year, which ended March 31, 2009. Industry-wide, investment in product development has dropped, as has demand for manufactured product.
“As of mid-July, demand has stabilized, but there has not yet been a rapid return to previous levels,” said Lumb. “Despite this, we are maintaining active capability development and capital investment programs so our customers continue to have access to the best MEMS development and manufacturing services available.”