Lawrence Davis, Founder and CEO, Advanced Assembly

As 2020 comes to a close it feels like it's been a lot more than 12 months this year. Covid-19 came onto the scene very early in the year and we, like everyone, had no idea what to expect. As the year progressed we followed the CDC and state / local guidelines hoping to keep our employees healthy and safe.

In Q2 many of our customers started pushing out orders into Q4 and into 2021. As the uncertainty continued through the year our business was off forecast by around 15/20%. We were fortunate that we were able to participate in the government PPP program. As a result we were able to hold on to our employees and actually hired a few additional in Q3.

As we close out 2020 we have had the good fortune of bringing on board several new customers in Q4 for various reasons. This, combined with a few vaccines being approved and rolled out, has brought a feeling of optimism for our 2021 forecast. We think that 2021 could be a strong year of growth for Kodiak.

We think that the electronics assembly industry, in general, will have strong demand in 2021 as the economy starts to recover. It won't come over night but it will be headed back into a sustainable growth period. And like the rest of the business community, are we ever ready!