Newspaper article The Florida Times Union

ATC Expects Slow Tech Sector Recovery

Newspaper article The Florida Times Union

ATC Expects Slow Tech Sector Recovery

Article excerpt

Byline: Mark Basch, Times-Union business writer

Along with the rest of the tech stock market, American Technical Ceramics Corp. has fallen far from its peak 18 months ago. And the stock is unlikely to see a big upturn soon.

The company, which makes electronic components, such as ceramic multilayer capacitors and thin film circuits, reported sales for the first quarter ended Sept. 30 fell 33 percent to $13.9 million and net income dropped from 31 cents per diluted share to 4 cents.

ATC, based in Huntington Station, N.Y., and has a major plant in Jacksonville, said bookings for new orders remain low, particularly in the wireless infrastructure, fiber-optic and semiconductor sectors.

"Although we are seeing some signs of the market beginning to strengthen, we believe it will be a slow recovery," said a statement by chief executive officer Victor Insetta, who works out of Jacksonville.

ATC's stock has fallen from its peak of $53.75 in May 2000 and has been trading between $8 and $10 in recent months. …

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