SMTC Corp.

SMTC Corp.

SMTC Corp.

Overview
Date Founded

1985

Headquarters

635 Hood Road,Markham, ON L3R 4N6

Type of Company

Public

Employees (Worldwide)

3,291

Industries

Electrical Products
Appliances & Electronics

Company Description

SMTC Corp. engages in the provision of end-to-end electronics manufacture services. It services include product design and engineering services, printed circuit board assembly, production, enclosure, cable assembly, precision metal fabrication, systems integration and comprehensive testing services, configuration to order, build to order, and direct order fulfillment. The company was founded in 1985 and is headquartered in San Jose, CA.

Contact Data
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Executives & Employees

President & Chief Executive Officer & Director

Chief Financial Officer

Chief Operating Officer

Vice President & General Manager, Smtc Suzhou

Vice President & General Manager-Chihuahua, Mexico

Vice President & General Manager-San Jose, California

Vice President & General Manager-Melbourne, Florida

Vice President & General Manager-Dongguan, China

Vice President & General Manager-Boston

Vice President of Global Operations & General Manager-Zacatecas, Mexico

Board of Directors

Chairman & Chief Executive Officer at Waterfield Group

President at FGW Partners LLC

President & Chief Executive Officer & Director at SMTC Corp.

Founder & Chief Investment Officer at Red Oak Partners LLC

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Owners & Shareholders
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Red Oak Partners manages the Red Oak Family of Funds with the goal of achieving consistent above average returns and capital appreciation through a combination of long-term and short-term investments while also attempting to preserve capital and mitigate risk through diversification of investments and hedging activities. Most of the partnerships' assets are invested in publicly traded equity securities of small-micro-cap and mid-cap companies ($1 million to $3 million). Assets are also invested in the private equity market. Red Oak focuses on companies that have a reasonable expectation of producing above average returns. Red Oak purchases equities they believe are undervalued and lack significant analyst coverage, and sells short equities they believe are overvalued. The firm invests without regard to market sector. More specifically, Red Oak seeks to invest the majority of the partnerships' assets in companies involved in special situation events and/or companies with strong stable franchises, a high value added service or product, attractive industry dynamics, proven managements, consistent excess cash flow, growth at a reasonable price (GARP) and other indicators of value. Red Oak seeks to sell short small/micro- and mid-cap equities of overvalued and troubled companies.Red Oak's investment strategies include investments in a wide variety of securities and financial instruments, domestic and foreign, of all kinds and descriptions, whether publicly traded or privately placed, including, but not limited to, common and preferred stocks, bonds and other debt securities, convertible securities, limited partnership interests, mutual fund shares, options, warrants, commodities, futures, derivatives (including swaps, forward contracts and structured instruments), currencies, monetary instruments and cash and cash equivalents.

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Wynnefield Capital (WC) is a value investor that specializes in investments in US small-cap situations that have company or industry specific catalysts. The firm employs an active investment philosophy. They are not involved in Greenmail situations, but focus on initiatives with management and outside directors to release value.The firm seeks to invest in underfollowed, unrecognized and undervalued companies that fit their parameters. They look for companies with minimal balance sheet risk and the potential for micro or macro change. WC adds value by uncovering both long and short opportunities through original research. They are tax-conscious investors and generally maintain portfolio positions for 24 to 36 months. Catalytic factors they consider include a balance sheet with little or rapidly decreasing debt, changes in governmental regulation, scale-driven industry consolidation and management succession issues or situations where management compensation is related directly to creation of shareholder value and shareholder friendly board of directors. They also consider insider buying and turnaround situations where changes in the structure of a business improve focus on shareholder value.WC maintains a proactive posture with respect to their portfolio names when they believe management is not responding appropriately to surface shareholder value, where corporate governance issues exist or where outside assistance can be provided to a management working to implement value-creating strategies. In numerous cases, they are forms 13-D and 4 filers and have, in rare circumstances, accepted a board of director's seat.The firm seeks to provide hedged returns, not only through individual securities, but also by using index futures when their research indicates systemic market or sector, risk. WC looks for overextended valuations relative to earnings potential, increasing balance sheet risk, unfavorable marketplace changes for a company's products, management instability, extreme speculative market moves or the emergence of deteriorating industry macros.WC is an activist firm and is included in the SharkWatch50 as one the 50 most prominent activist investors.

Details Hidden

Millrace Asset Group manages the Millrace Fund, a long/short US small-cap equity portfolio

Recent Transactions
Details Hidden

SMTC Corp. purchases M C Test Service, Inc. from South Franklin Street Partners LLC, Cyprium Investment Partners LLC

Details Hidden

SMTC Corp. purchases Seksun Array Electronics Suzhou Co. Ltd. /Manufacturing Ops from Seksun Array Electronics (Suzhou) Co. Ltd.

Details Hidden

SMTC Corp. purchases ZF Array Technology, Inc. from Supernova (Cayman) Ltd.

Transaction Advisors
Auditor

Advised onSMTC Corp. issued Common Stock

Selling Group Member

Advised onSMTC Corp. issued Common Stock

Investment Advisor

Advised onSMTC Corp. purchases M C Test Service, Inc. from South Franklin Street Partners LLC, Cyprium Investment Partners LLC

Hiring Partner

Advised onSMTC Corp. purchases M C Test Service, Inc. from South Franklin Street Partners LLC, Cyprium Investment Partners LLC

Advisors & Consultants
Advisor

Former Chief Accounting Officer & Chief Financial Officer at SMTC Corp.

Publicist

Managing Director at Darrow Associates, Inc.

Clients

Vocera is a leading provider of mobile communication solutions focused on addressing the most critical communication challenges facing hospitals today. We help our customers improve patient safety and satisfaction, and increase hospital efficiency and productivity with our Voice Communication solution and new Secure Messaging and Care Transition solutions. The Joint Commission data base on sentinel events identifies communication issues as one of the root causes in 82% of the reported occurrences in 2010. Additionally, a study published in the Journal of Healthcare Management conducted by Agarwal et. al.,"Quantifying the Economic Impact of Communication Inefficiencies in U.S. Hospitals" found that inefficient communication costs U.S. hospitals more than $12 billion annually or better than $4 million for a 500-bed hospital. More than 800 hospitals and healthcare facilities leverage Vocera solutions to achieve improved clinical, operational, and financial outcomes. The Vocera Voice Communication solution and the Vocera Care Transition solution are exclusively endorsed by the American Hospital Association.

The Government of the United States of America is the federal government of the republic of fifty states that constitute the United States, as well as one capital district, and several other territories. The federal government is composed of three distinct branches: legislative, executive and judicial, whose powers are vested by the U.S. Constitution in the Congress, the President, and the federal courts, including the Supreme Court, respectively.

NeuroMetrix, Inc. is a healthcare company, which engages in the research, development, and trade of medical equipment and consumables. It offers an over-the-counter wearable therapeutic device for chronic pain, the Quell Health Cloud, DPNCheck, and pain management devices to treat chronic pain, nerve diseases, and sleep disorder. The company was founded by Shai N. Gozani in June 1996 and is headquartered in Waltham, MA.

Key Stats and Financials As of 2018
Market Capitalization
$91.3M
Total Enterprise Value
$169M
Earnings Per Share
$-0.02
Revenue
$216M
EBITDAMargin
4.44%
Enterprise Value Sales
0.78x
Enterprise Value EBITDAOperating
17.56x
TEVNet Income
-376.43x
Debt TEV
0.56x
EBITDA
$9.6M
Total Debt
$93.9M
Total Equity
$32.3M
Net Profit
$-450K
Three Year Compounded Annual Growth Rate Of Revenue
-0.68%
Five Year Compounded Annual Growth Rate Of Revenue
-4.4%
Suppliers
Kinaxis, Inc. IT Consulting & Services | Ottawa, ON

Kinaxis, Inc. engages in the provision of cloud-based subscription software. Its solutions include sales and operations, capacity, demand inventory, machine learning, and supply planning. The company was founded by Duncan Klett in 1984 and is headquartered in Ottawa, Canada.

Aegis Industrial Software Corp. IT Consulting & Services | Horsham, PA

Aegis Industrial Software Corp. provides web based enterprise resource management software. Its software manages new product introductions, materials & line setup validation, manufacturing execution, and process traceability. Its customers include Accutron, Celestica, Computrol, Ciena, Honeywell, National Instruments, Raytheon, Teledyne Technologies, Teradyne, and Siemens. The company was founded by Jason Spera in 1996 and is headquartered in Horsham, PA

Competitors
Benchmark Electronics, Inc. Electrical Products - ANGLETON, TX

Benchmark Electronics, Inc. provides integrated electronic manufacturing services, engineering and design services, and precision machining services. The company provides services to original equipment manufacturers of industrial control equipment telecommunication equipment, computers and related products for business enterprises, medical devices, and testing and instrumentation products. Its services include comprehensive and integrated design and manufacturing services and solutions from initial product concept to volume production, including direct order fulfillment and aftermarket services. The company was founded by Cary T. Fu, Steven A. Barton and Donald E. Nigbor in 1979 and is headquartered in Angleton, TX.

Flex Ltd. Other Manufacturing - Singapore, CE

At Flextronics, impossible is where breakthrough begins. As a socially-responsible, global leader in design, manufacturing, distribution and aftermarket services, Flextronics is unique in its ability to provide end-to-end solutions through its innovative and proprietary systems — all to enhance customer competitiveness and success. Working across four business groups and several business units, Flextronics is able to unleash the full potential of the world’s most valuable brands and new ventures. What Flextronics creates is value. By increasing speed to market and driving competitive positioning for customers, Flextronics in essence solves customers’ most challenging problems better, faster and more cost effectively than any other company. Flextronics is able to manage big data in a way that allows for trending in market environments that are in flux, allowing the Company to provide solutions for customers, often before a challenge is ever realized. Flextronics is unique in the depth, breadth and scope of the Company. With an unmatched global presence, customers are supported with unprecedented speed in product ramp-up, delivery, and the ability to manage volume regardless of complexity or product mix. Leveraging state-of-the-art LEAN practices, Six Sigma, key investments in infrastructure and FlexQ, a propriety quality program that is beyond leading edge according to customers, Flextronics is the market leader in almost every business in which it operates. Whether high mix/low volume or low mix/high volume, Flextronics can enable any customer's success. At Flextronics, there is no room for “mediocrity.” If anything, the Company exists to continually test the bounds of what can be expected in terms of designs and processes. Optimization is what Flextronics does best. People make the difference. People with passion have an even greater impact. The Flextronics team spans 30 countries and four continents, and is over 200,000 people strong. Each member of the team is dedicated to enabling customer success. That is achieved through intense collaboration, passionate customer focus, thoughtful and disciplined execution, a tenacious commitment to continuous improvement and a relentless drive to win. Culture is the most important sustainable, competitive advantage of any company. The Flextronics culture is built on commitment — to customers, employees, the communities in which it operates and the environment. Flextronics is a global leader in non-profit/for-profit partnership, providing assistance in the places around the world that need it most. The Flextronics Foundation provides assistance in the areas of natural disaster relief, health and wellness initiatives and educational opportunities. Culture drives every aspect of the Company’s success. The culture and business model work hand-in-hand to ensure simplicity, flexibility and above all — sustainability.

Jabil, Inc. Electrical Products - St. Petersburg, FL

Jabil, Inc. engages in the provision of electronic manufacturing services and solutions. It offers electronics design, production, product management, and repair services to companies in the automotive and transportation, capital equipment, consumer lifestyles and wearable technologies, computing and storage, defense and aerospace, digital home, healthcare, industrial and energy, mobility, networking and telecommunications, packaging, point of sale, and printing industries. The firm operates through the Electronics Manufacturing Services and Diversified Manufacturing Services segments. The Electronics Manufacturing Services segment focuses around leveraging IT; supply chain design and engineering; and technologies largely centered on core electronics. The Diversified Manufacturing Services segment provides engineering solutions, with an emphasis on material sciences and technologies. The company was founded by William E. Morean and James Golden in 1966 and is headquartered in St. Petersburg, FL.

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