MAMLO, SWEDEN -- Top 40 EMS firm PartnerTech reported second-quarter net sales fell 25% year-over-year to SEK 519.5 million ($66.1 million).

The operating loss fell 283% to SEK -14.9 million (-$1.90 million), and the loss after tax dropped 473% to SEK -13.8 million (-$1.76 million). Cash flow after investments were SEK 35.8 million ($4.6 million), up from SEK -16.2 million (-$2.1 million).

The operating margin was -2.%, down from 1.2% year-over-year. The return on operating capital was -6.7%.

By sector, demand for IT products was up, but sales for defense, clean technologies, maritime and industrial products were softer.

In a statement, president and CEO Rune Glavare said PartnerTech looks to increase capacity in Eastern Europe and Asia.

 

Ed: 1 SEK = 0.127318 USD