VELLINGE, SWEDEN -- Top 40 EMS firm PartnerTech reported a fourth-quarter net profit of SEK 8.8 million ($1.37 million), up from a loss of SEK 4.7 million last year.

For the period ended Dec. 31, net sales were SEK 617.6 million ($92.3 million), 11% from a year ago. The operating profit rose 333% to SEK 6.5 million. Cash flow after investments was SEK 16.2 million, down from SEK 34.7 million.

For the year, net sales rose 1.5% to SEK 2,181.1 million. The operating loss was SEK 15.3 million, down from a loss of 3.5 million, while the net loss was SEK 19.6 million, up from a net loss of 21.5 million.

During the year the electronics manufacturing services company closed several factories and also opened a plant for sheet metal and systems integration in Myslowice, Poland.

Ed.: 1 SEK = 0.155861 USD