SMTC offers first quarter and 2001 results.

SMTC Corp. (Toronto, Ontario, Canada), an electronics manufacturing services (EMS) provider, has reported fourth quarter revenues of $132 million and an adjusted net loss, per share, of $0.19, before the amortization of goodwill, restructuring and other charges. This number exceeded analyst

Gross profit for the fourth quarter for 2001, before restructuring and other charges, was $2.6 million, versus $23.9 million during the same period in 2000. Gross profit margin in the quarter improved to 2.0 percent versus a loss of 0.5 percent in the third quarter of 2001. The operating loss for the fourth quarter, before restructuring and other charges, was $8.4 million, compared to an operating profit of $11.5 million in the same period in 2000.

The company reported revenues of $612 million for the full year ending 2001 versus $783 million during 2000--down 22 percent. For the full year, gross profit, before restructuring and other charges, was $15.2 million or 2.5 percent of sales, compared to $68.3 million or 8.7 percent of sales in 2000. The operating loss, before restructuring and other charges, was $29.7 million compared to operating income of $27.5 million in 2000.

The net loss for the fourth quarter of 2001 was $36.7 million or $1.28 per share, after all restructuring and other charges, compared to net income of $4.3 million or $0.15 per share for the same period in 2000. The net loss for the full year ending 2001 was $104.8 million or $3.66 per share, after all restructuring and other charges, compared to net income of $3.6 million or $0.03 per share for the full year ending 2000.