DANDERYD, SWEDEN – Note AB reported December quarter sales dropped 9.6% to $49.4 million. The operating loss was $5.7 million, and the operating margin was -11.6%.

For the quarter, the EBIT loss after one-time items was $6 million, and the after-tax loss was $4.4 million.

For 2008, the EMS company reported sales of $203.5 million, down 1.8% from a year ago. The operating loss was $452,000, down from a profit of $13.3 million. The operating loss includes restructuring-related costs of $9.5 million during the year. The operating margin amounted to -0.2%.

For the year, the EBIT loss was $1.71 million, down from a profit of $12.4 million. For the year, the loss after one-time items was $1.6 million, and the after-tax loss was SEK $4.4 million. Cash flow from operations was $3 million.

The company is cutting its Swedish labor force by 400, or just over 50%, mostly in the first half of 2009. Worldwide, Note employs more than 1200 staff.

The company is a worldwide Top 50 EMS company, according to Circuits Assembly.

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