MALMO, SWEDEN -- PartnerTech reported first-quarter net sales of fell 3% from a year ago to SEK 594.2 million (US$71.1 million).

The operating profit was SEK 9.5 million, an improvement from last year's loss of 9.1 million. The after-tax profit was SEK 500,00, also a swing from a loss of 9.7 million last year.

For the quarter, cash flow after investments was a loss of 36.6 million, down from 14.7 million.

Industrial sales fell 22% year-over-year and is now PartnerTech's second largest end-market, behind IT, which grew about 6%. Clean technologies were up 33%, and defense was up sharply as well. Medical fell.

PartnerTech is the world's 37th largest EMS company, according to the CIRCUITS ASSEMBLY Top 50.

 

Ed: 1 SEK = 0.119693 USD