VELLINGE, SWEDEN -- Top 40 EMS firm PartnerTech reported first-quarter net sales of SEK 557.4 million ($77.2 million), down 6.2% from a year ago.

The operating loss was SEK -1.7 million, and the net loss was SEK -5.1 million ($706,000), down from net profits of SEK 500,000 last year.

For the quarter, cash flow after investments was SEK -11.3 million, up from SEK -36.6 million.

The company announced Leif Thorwaldsson would assume the roles of president and CEO today from Rune Glavare. Glavare has been acting CEO and president since October 2007.

Ed.: 1 SEK = 0.138426 USD

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