Grenoble, France and Dallas, TX, USA – November 29, 2018 - Tronics, a TDK Group Company that manufactures custom MEMS products and standard inertial sensors, has announced its revenue for the first-half of fiscal 2019 (from April 1 to September 30, 2018). Total revenue recorded double-digit growth, despite the transfer to the new production facility in Dallas.
Consolidated revenue for the first half of fiscal 2019
|in €K (IFRS) - unaudited||First half of |
fiscal year 2019
|First half of |
fiscal year 2018
|First half of |
calendar year 2017
|From April 1 to |
September 30, 2018
|From April 1 to |
September 30, 2017
|From January 1 to |
June 30, 2017
Revenue for the first-half of fiscal 2019 totalled nearly €3.1M, an increase of 11% compared to the same period of the previous fiscal year (April 1 to September 30, 2017).
The Group's manufacturing activities resulted in a revenue of €1.6M, an increase of 35% over the same period of the previous fiscal year. Manufacturing now accounts for more than half of Tronics' overall revenue, and represents a continuation of the Company's strategy to accelerate its production activities. The growth is mainly driven by the activities in Crolles, France, which increased by +37% over the period. This growth was sustained by the continuous demand for Tronics' high-performance MEMS inertial sensors as well as the activities related to custom optical components.
Engineering activities, aimed at supporting the industrialization of future custom products at Group level, accounted for nearly €1.5M in the first-half of fiscal 2019 (versus nearly €1.6M in the first half of fiscal year 2018).
Total revenue in the US subsidiary as of September 30, 2019, decreased slightly by 2% compared to the same period of the previous fiscal year, accounting for nearly 12% of the revenue at Group level, as a continuation of the slowed activity due to the move to the new fab.
For the second half of its 2019 fiscal year, Tronics is targeting a further increase of its manufacturing activities, sustained by the momentum confirmed in Crolles over the last periods.
Regarding the US subsidiary, the transfer to the new production facility is now completed, and the activities have restarted with the investment support from the TDK Group. However, this subsidiary expects a significant impact on its production ramp-up, due to a start-up customer with high expectations that is now facing difficulties in financing its future development, and the uncertainties related to the diagnostic chips foundry market.
About Tronics Microsystems
Tronics Microsystems is a division of TDK's Temperature & Pressure Sensors Business Group that manufactures custom MEMS products and standard inertial sensors. Addressing high-growth markets relying on increasing miniaturization of electronic devices, the company provides custom and standard products especially to the industrial, aeronautics, security, and medical markets. Founded in 1997, Tronics is located in Crolles, near Grenoble (France) and in Dallas, Texas (United States), and has around 100 employees, most of them engineers and scientists. Following a tender offer ending January 2017, TDK Electronics AG (formerly EPCOS AG) now holds 74 percent of Tronics' shares.
* ISIN code: FR0004175099 ALTRO
About TDK Corporation
TDK Corporation is a leading electronics company based in Tokyo, Japan. It was established in 1935 to commercialize ferrite, a key material in electronic and magnetic products. TDK's comprehensive portfolio features passive components, such as ceramic, aluminum electrolytic and film capacitors, as well as magnetics, high-frequency, and piezo and protection devices. The product spectrum also includes sensors and sensor systems such as temperature and pressure, magnetic, and MEMS sensors. In addition, TDK provides power supplies and energy devices, magnetic heads and more. These products are marketed under the product brands TDK, EPCOS, InvenSense, Micronas, Tronics and TDK-Lambda. TDK focuses on demanding markets in the areas of information and communication technology and automotive, industrial and consumer electronics. The company has a network of design and manufacturing locations and sales offices in Asia, Europe, and in North and South America. In fiscal 2018, TDK posted total sales of USD 12 billion and employed about 103,000 people worldwide.