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Frost & Sullivan recognizes SMTC Corporation with the 2013 North America Frost & Sullivan Award for Growth Leadership

SMTC Corporation has recorded impressive growth and forward earnings projections among its peers and Tier one competition. Extensive Frost & Sullivan research clearly shows that the company's ability to translate best practices into tangible growth validates its business strength and leadership. SMTC Corporation has successfully employed customer satisfaction experience and internal best practices to improve and enhance its growth strategies. In recognition, Frost & Sullivan is proud to present the 2013 Growth Leadership Award in the EMS market to SMTC Corporation.

Best Practice Award Analysis for SMTC Corporation

The Frost & Sullivan Award for Growth Leadership is presented to the company that has demonstrated excellence in capturing the highest annual compound growth rate for the last 3 years.

SMTC Corporation’s Performance in the EMS Market

SMTC Corporation is a leading EMS provider with strong participation in the medical, industrial, computing, communication, and renewable energy markets. Frost & Sullivan research reveals that the company has garnered strong customer appreciation and recognition for its ability to formulate and implement impressive strategies to help OEMs address their key challenges. SMTC Corporation has been successful in its ability to align its internal strategies to help their customers capitalize on opportunities across varied end markets.

SMTC Corporation's service portfolio includes design and engineering, new product introduction (NPI) support, manufacturing, and supply chain services. The company has established its growth performance by increasing its individual profitability and striving to improve and enhance its customers’ bottom line. Frost & Sullivan attributes SMTC Corporation success primarily to its constant focus on exceeding customer expectations, thereby ensuring a complementing effect on value offering and inherent growth strategies.

Frost & Sullivan research finds that SMTC Corporation is emerging as one of the fastest growing companies within the EMS market. The company recorded an overall growth of over 70.0 percent in Q3 2013 over Q3 2011. It has also received attention for ranking high on forward earning projections (of 18.8 percent) and has overshadowed leading Tier one EMS providers. This circumstance bodes well for SMTC Corporation, and the company is set to record tremendous growth in the near future. 

Key Performance Drivers for SMTC Corporation Factor 1: Superior customer service strategies

Customer satisfaction has been the cornerstone of success for SMTC Corporation. The company places uncompromising focus on elevating levels of service and quality for its varied customer base. Frost & Sullivan analysis shows that SMTC Corporation has proven its ability to work with high volumes as well as low-to-mid volume production with superior performance. By means of talented customer focused teams, SMTC Corporation ensures complete satisfaction at every stage of the engagement—right from inception all the way to fill delivery.

By placing importance on uncompromising quality and being responsive to customer demands, SMTC Corporation has succeeded not only in retaining its customer base but also in increasing their revenues. In addition, the company’s performance in traditional markets has positively impacted its ability to address customers’ needs in new markets. A case in point, SMTC Corporation’s medical and scientific segment grew from $7.0 million in 2010 to $20.0 million in 2013.

A key success factor for SMTC Corporation is that the company ensures cost optimization without compromising quality and delivery performance for its diverse customer base. The company also partners with its customers to provide not just manufacturing, but engineering and design solutions as well. This strategy ensures tight integration and longterm relationships. In a market characterized by a high degree of competition, these strategies have helped SMTC Corporation’s customers grow.

SMTC Corporation has proven it’s ability to understand the stringent requirements of niche markets, such as the medical industry, as well as varying end-user demands in high volume markets, such as consumer electronics. The company has also been successful in emulating best practices that have been established in other participating markets and in applying them across its segments.

SMTC Corporation has further established irrefutable credibility by rising to each of its customer’s unique challenges. For example, a leading OEM in the medical sector was seeking an EMS partner with the capability to provide NPI support and to contribute to the subsequent ramp-up of manufacturing volumes of its high-tech wireless hands-free communication device for use in hospitals and other medical facilities. SMTC Corporation stepped up to the challenge and partnered with the customer for design and ensured manufacturability. The company also leveraged its supply chain expertise and local manufacturing locations to ensure complete support from design to manufacturing, while ensuring cost savings and a faster time-to-market.

Factor 2: Domain expertise

SMTC Corporation also partners with customers right from the design stage, thereby enabling the company to be on the same page as its customers. As a result, SMTC Corporation derives a true understanding of customer requirements and is able to offer mutually beneficial growth opportunities. The company’s best practices across its services serve as a vital tool for its growth.

SMTC Corporation’s success stems from its ability to anticipate the dynamics of the electronics industry and to position solutions that enable flexibility and responsiveness. The company's efficient processes have allowed it to meet the growing demand for outsourcing in newer markets, such as medical devices. As a part of its growth strategy, the medical segment continues to play a vital role in elevating the company's position and future growth trajectories. In Frost & Sullivan’s opinion, SMTC Corporation’s customers benefit from well-rounded service offerings, including aftermarket services. According to Frost & Sullivan’s competitive benchmarking, SMTC Corporation has set an example of superior customer service. The company’s well-established reverse logistics enables it to offer flexible, reliable, and cost-efficient repair and refurbishment solutions. By means of viable and intelligent growth strategies aimed at customer satisfaction, SMTC Corporation has managed to create inroads within the industry, leveraging itself further. Through consistent focus on improvement and product support at all levels, the company offers its customers mutually beneficial growth opportunities.

Factor 3: Branding Power

Frost & Sullivan firmly believes that SMTC Corporation has earned its brand recognition as a leading quality EMS provider among tough competition. The company aims to achieve stringent internal quality levels that often surpass customer expectations. By successfully emulating customers' business operations and maintaining open communication, SMTC Corporation is able to act as a true partner for its customer base. Customers benefit from cost competitive manufacturing locations as well as access to emerging markets. SMTC Corporation’s ability to understand customer requirements, develop customized solutions, and constantly upgrade internal processes and technology in order to cater to changing market dynamics has reinforced the company’s position within the market.

Conclusion

SMTC Corporation has recorded impressive growth and forward earnings projections among its peers and Tier one competition. Extensive Frost & Sullivan research clearly shows that the company's ability to translate best practices into tangible growth validates its business strength and leadership. SMTC Corporation has successfully employed customer satisfaction experience and internal best practices to improve and enhance its growth strategies. In recognition, Frost & Sullivan is proud to present the 2013 Growth Leadership Award in the EMS market to SMTC Corporation.

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Frost & Sullivan 2013 Award Best Practices Analyst Report Full Version

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