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Lenthor Engineering, a Milpitas, California based designer, manufacturer and assembler of RIGID-FLEX and FLEX printed circuit boards, announces its year-to-date financial results showing record quarterly revenue and record growth year-over-year.
Total revenue for Q1 2016 came in at $7 million compared to $4 million in Q1 2015, a 75% increase. Similar strong performance was reported for Q2 2016, with revenue totaling $7.1 million compared to $4.8 million in 2015, providing a 48% increase. Profit year-to-date and quarter-over-quarter showed similar results, with growth coming from both the existing customer base as well as from new customers.
The strong growth was fueled by Lenthor Engineering's opening of its newly constructed fabrication facility providing customers with increased capacity and production efficiencies. "The confidence our customers showed us when we announced our intentions to construct a new fabrication and assembly facility allowed us to make the financial investment necessary to create the state-of-the-art facility we now have. This faith in our team is what has allowed us now to enjoy the success we are seeing," said Mark Lencioni, President/CEO of Lenthor Engineering.
Lenthor Engineering has invested over $8 million in new equipment over the last three years in addition to investing over $9.5 million in new building acquisition and related leasehold improvements for the new manufacturing and corporate headquarters facility in Milpitas, CA.