Speedline Technologies Continues Strong Financial Performance in Second Quarter - Sales Up 61%, Bookings Surge 85%

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Speedline Technologies, Inc. (http://www.speedlinetech.com ) today reported that sales during the second quarter of 2004 were up more than 61% over the same period last year. Bookings also surged dramatically, increasing 85% over the first quarter of 2003. At the end of the period, the business backlog was 3.5 times higher than at the same time last year.

Speedline Technologies, Inc. (http://www.speedlinetech.com) today reported that sales during the second quarter of 2004 were up more than 61% over the same period last year. Bookings also surged dramatically, increasing 85% over the first quarter of 2003. At the end of the period, the business backlog was 3.5 times higher than at the same time last year.

"We saw continuation of the rigorous market recovery in electronics manufacturing that started in the first quarter," said Pierre de Villemejane, president, Speedline Technologies. "Cell phone and computer production was exceptionally strong, driving higher spending for capital equipment to expand capacity.” De Villemejane said, "Speedline’s process expertise and its continued investment in product and application development are supporting the company’s growth. We generated positive cash flow throughout the period, strengthening our balance sheet and financial stability,” said de Villemejane. “In addition, we gained market share in several key product lines, such as the MPM® AccuFlex® stencil printer and the Electrovert® OmniExcel® 7 re-flow oven. We also experienced a strong surge in sales for the Camalot® XyflexPro® single-lane and dual-lane dispensing systems at the end of the second quarter,” he said.

Speedline reported that sales for the first half of 2004 were up 52% over the same period last year, while bookings climbed 69%. “The company was profitable throughout the six-month period. Due to the extensive growth in business, we expanded operations to two shifts on several key product lines,” said de Villemejane.

In reviewing the company’s performance, Speedline’s president said sales were strong across all geographic regions. “In the Americas, electronics capital spending was expansion-driven, and our large contract electronic manufacturing customers invested heavily in new equipment,” he said. “Mexico and Brazil also exhibited particularly strong signs of recovery.”

De Villemejane said Hungary has emerged as the fastest growing European market as electronics manufacturing moves into the eastern region of the continent. “The transition to lead-free processing (re-flow and wave soldering) also is supporting the region’s growth, particularly in the United Kingdom and Nordic region,” he said. "Lead-free requirements and expansion are driving strong wave solder requirements in Eastern Europe, Poland, Hungary, Czech Republic and Turkey.”

“China and Thailand were the fastest growing Asian markets. Contract manufacturers in the region continued to bring on new capacity,” said de Villemejane. “We recorded strong market share gains in Camalot underfill dispensing equipment. Our MPM AccuFlex printers and Electrovert OmniExcel re-flow ovens also were star performers.”

About Speedline Technologies

Speedline Technologies is the global leader for single-source process knowledge, solutions, and service to the PCB assembly and semiconductor packaging industries. Based in Franklin, Massachusetts, USA, the company sells five, best-in-class brands – Accel microelectronics cleaning, Camalot dispensing systems, Electrovert wave soldering, re-flow soldering, and cleaning equipment, MPM stencil and screen printing systems, and Protect global services, support, and training solutions. For more information, visit us at http://www.speedlinetech.com .

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Don Goncalves
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