Symmetricom To Outsource Product Fabrication

April 7, 2010 (FinancialWire) — Symmetricom, Inc. (NASDAQ: SYMM), a supplier of time and frequency technologies, said that it has entered into an agreement to transfer product fabrication processes and related activities from Symmetricom’s Aguadilla, Puerto Rico facility to Sanmina-SCI facilities. The transfer is scheduled to be complete within one year.

Symmetricom’s Puerto Rico-based operations, which include assembly, testing, repair and logistics, will be transitioned to Sanmina-SCI manufacturing sites. Sanmina-SCI, a global Electronics Manufacturing Services firm that is currently produces Symmetricom’s printed circuit board assemblies.

The company said it expects to continue to manufacture highly specialized core atomic time technology and selected military products in its other facilities.

It added that costs related to the transition are expected to total around $15 million over the next year, including $13.5 million in cash.

Symmetricom said it will begin incurring these costs immediately. The company plans to build around $4.0 million in buffer inventory to support the transition. Once the transition is completed, Symmetricom expects to save around $6.0 million per year and bring the benefit of a more flexible and efficient supply chain to its customers worldwide.

California-based Symmetricom company generates, distributes, and applies precise time for the communications, aerospace/defense, IT infrastructure and metrology industries.

(For more outsourcing, professional services, business services and/or support services related articles go to http://www.financialwire.net/?s=prfssnlsrvctsrc)

(For more business restructuring articles go to http://www.financialwire.net/?s=restrctrng)

(For more information technology sector articles go to http://www.financialwire.net/?s=infrntntchnlgy)

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) website (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

[prfssnlsrvctsrc] [restrctrng] [infrntntchnlgy]