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Note 1 - Nature of the Business
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6 Months Ended | ||
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Jul. 03, 2011
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| Nature of Operations [Text Block] |
SMTC
Corporation (the “Company”) is a worldwide
provider of advanced electronics manufacturing services to
original equipment manufacturers. The Company services its
customers through manufacturing and technology centers
located in the United States, Canada, Mexico and China. For
the past ten years the Company has had an evolving
manufacturing relationship with Alco Electronics Ltd.
(“Alco”), a Hong Kong-headquartered,
publicly-traded company with large scale manufacturing
operations in China. The Company operates under a
manufacturing agreement with Alco, having established a new
dedicated manufacturing facility in Chang An, China.
Capitalizing on the strengths of both companies, this site
provides the Company’s current and prospective
customers with highly efficient, low cost Asia-based
manufacturing solutions. The facility provides a full suite
of integrated manufacturing services including assembly,
testing, box build, final product integration, and expanded
supply chain capabilities through an international sourcing
and procurement office.
The
unaudited interim consolidated financial statements of the
Company have been prepared in accordance with the accounting
principles and methods of application disclosed in the
audited consolidated financial statements within the
Company’s Form 10-K for the fiscal period ended January
2, 2011, (“Form 10-K”) filed with the Securities
and Exchange Commission (the “SEC”) on March 11,
2011, except as described in Note 2. The accompanying
unaudited interim consolidated financial statements include
adjustments that are, in the opinion of management, necessary
for a fair presentation under generally accepted accounting
principles in the United States (“U.S. GAAP”).
These unaudited interim consolidated financial statements
should be read in conjunction with the Company’s
audited consolidated financial statements for the period
ended January 2, 2011.
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