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This version of Newslyne coincides with the announcement of our financial numbers for our 2005-06 fiscal year (ending March 31, 2006). As we said in a recent news release, Micralyne achieved record earnings and profitability this past year.
While we are a private company and have no formal obligation to release our numbers, we believe it is important to do so. Communicating that we are profitable and financially strong is important to our customers. It gives them confidence that we have the strength to be their long-term strategic MEMS development and manufacturing partner.
In particular, it illustrates our ability to operate with a viable business model. We are here for the long-term, and have the resources to invest in continuous improvement, new capabilities and expanded capacity.
A key factor behind our growth and profitability this past year is the significant increase in manufacturing revenue. While our pipeline of development projects and customers remains strong, growth in manufacturing orders is a sign of maturity for the overall MEMS industry. It also highlights some of the key differences between initially developing MEMS-based products and manufacturing them in volume.
On the development side, our customers care about time to market and innovative solutions to product design. We do this by using the creative talents of our design engineers in partnership with our customers.
Once in manufacturing, it’s ALL about cost. Manufacturing a product based on repeatable and reliable processes, having the quality and manufacturing systems in place, and ensuring available capacity is just the price of admission to the volume fabrication business. The most prevalent issue our customers talk about is cost and the need for continuous improvements to processes and yields.
This is a key reason behind a number of internal initiatives we have put in place related to cost reduction and process improvements. Fundamental to this is the “lean manufacturing” initiatives we’re working on. “Lean” is the subject of this month’s Tech Brief by one of our senior process technologists, Mark Belec.
As we move into summer, we’ve dismantled our outdoor hockey rink and lunchtime soccer has taken its place. We enjoyed the run of our hometown Edmonton Oilers who made it to the Stanley Cup finals and now the frenzy of World Cup soccer is here. Our staff which has doubled over the past year comes from a variety of countries around the world and while hockey is Canada’s national sport, we realize that soccer has near universal, global appeal. Regardless of cultural background, our staff works as a team and I want to take this opportunity to thank them for making this another successful year for Micralyne.
- Chris Lumb, President & CEO, Micralyne -