VELLINGE, SWEDEN -- PartnerTech swung to a net profit in first quarter, reporting income of SEK 12 million ($1.78 million), up from a loss of SEK 4 million last year.

It was the sixth straight profitable quarter for the contract electronics manufacturer.

For the period ended March 31, sales rose 5% year-over-year to SEK 611 million ($90.7 million) on higher sales of defense and maritime products, partially offset by lower demand for systems integration and enclosures. Operating profit for the period was SEK 21 million, up from SEK 3 million last year. Cash flow after investments was a loss of SEK 18 million.

The company said visibility remains cloudy. "It is difficult to predict how global uncertainty might affect our market areas going forward," said president and CEO Leif Thorwaldsson.

PartnerTech was 40th in the CIRCUITS ASSEMBLY Top 50 last year.

Ed: 1 SEK = 0.148506 USD

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