I've followed Nam Tai (NYSE:NTE) long enough now that I'm accustomed to the fact that this Chinese assembler of electronics is a little "quirky."

Don't believe me? Show me another growing tech company with a nearly 7% dividend yield. If that's not enough, you've got a company where the CEO and chief financial officer are, for now, the same person. You also have a company that willingly decided to focus its efforts on the lowest-margin segment it had. Last and not least, you occasionally see press release headlines like this one from April 13: "Nam Tai Electronics, Inc: Sees Q1 2006 Guidance Ahead."

Uh-huh . ahead of what?

Anyway, it still looks mostly like business as usual for Nam Tai. Sales were up nearly 33% in the first quarter as the company posted 58% revenue growth in its telecom assembly business (basically, putting together cell phones in China). Margins continue to slide, with the gross margin dropping 160 basis points to 10.1%, but operating income was still up more than 30%. Net income comparisons are a little wonky: While it's strictly true that reported net income did drop about 10% this quarter, the year-ago quarter included a sizable gain on the sale of shares of a subsidiary. Adjust that out, and you get pretty sizable net income growth.

If you want to compare this company with the likes of Flextronics (NASDAQ:FLEX), Jabil (NYSE:JBL), or Solectron (NYSE:SLR), good luck to you. Nam Tai is just "different" -- some of those differences are good (like a lot of cheap Chinese labor), and some aren't so good (namely the tremendous exposure to the cell-phone market).

And while I keep hoping that the company will look to someday re-expand more into consumer electronics, I wouldn't hold your breath. Besides, it's not as though that's a complete fail-safe plan either -- one of Nam Tai's subsidiaries had a tough quarter in large part because of the delays in the new Sony (NYSE:SNE) PlayStation.

If you can make your peace with some weirdness, this could be an interesting stock to own. There's a robust dividend and a lot of cash flow coming out of the business. Granted, it's risky having all your eggs in one basket, and other competitors will eventually increase their Chinese assembly activities as well, but for now at least this could still be an OK place to wait out the turmoil in the tech sector.

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Fool contributor Stephen Simpson has no financial interest in any stocks mentioned (that means he's neither long nor short the shares).