‘Cirtek is top contract manufacturer in Q4’

Published by Business Mirror

Laguna-based technology firm Cirtek Holdings Philippines Corp. said an American multinational semiconductor company has recognized its unit as the top contract manufacturer worldwide for the evaluation boards product line.

Analog Devices Inc. has recognized Cirtek Advanced Technologies and Solutions Inc. (CATSI) as the number one contract manufacturer during the fourth quarter of last year, the company said.

Analog specializes in data conversion, signal processing and power management technology.

CATSI previously held the number three position during the first and second quarter last year. It climbed to the second spot in the third quarter.

The evaluation board product line is an essential business unit of Analog as this allows the company to market their analog, mixed signal and digital signal processing integrated circuits to electronic design companies.

These technologies were used to convert, condition and process real-world phenomena, such as light, sound, temperature, motion and pressure into electrical signals.

CATSI is the system and subsystem manufacturer of millimeter wave and microwave products and a total manufacturing solutions partner for telecommunications, satellite communications, semiconductor test boards, industrial, automotive and EV mobility equipment.

The company said it continues to see increased demands for radio frequency evaluation boards catering to 5G applications and battery monitoring systems for the growing electric vehicle market.

“Growth is expected to continue in 2025,” the company said.

CATSI offers advanced electronic and full turnkey manufacturing solutions across its four primary market segments in telecommunications, satellite communications, semiconductor test boards and industrial and automotives.

Cirtek said its income during the nine months of 2024 ending September 30 fell 35 percent to $4.96 million from the previous year’s $7.64 million.

Revenues fell 21 percent to $48.5 million from $61.2 million for the same period in 2023. The decrease was mainly due to the 17-percent decline in revenue contribution of Cirtek Electronics Corp., the 46-percent drop in revenue contribution of CATSI and the 1-percent decrease in the revenue contribution of Quintel Solutions, a manufacturer of space-efficient base station antennas for wireless networks.

Revenues from Quintel for the nine-month period reached $15.8 million, 1 percent lower than last year’s $16 million. CATSI’s revenues reached $9 million, some 46 percent lower than the $16.6 million recorded in 2023.