VELLINGE, SWEDEN -- PartnerTech reported second-quarter revenue rose 2% from last year even as the market slowed from the first quarter.

The contract electronics manufacturing services provider reported flat net profits, with an operating profit of SEK 12 million ($1.7 million), up from SEK 5 million last year. Net sales reached SEK 564 million ($80 million) for the period ended June 30.

"Some customers pulled back or postponed orders, but the underlying dynamics are positive. We signed agreements with new customers during the quarter and collaborated more extensively with existing customers by means of new orders and letters of intent," PartnerTech said in a press release.

The company added that bottlenecks challenges at its Myslowice, Poland, unit during the first quarter due to the initial ramp of new business have been mostly cleared up.

For the first half, sales at the EMS company reached SEK 1.17 billion, up 2.2% year-over-year. The net profit was SEK 13 million, up from a loss of SEK 4 million last year. The operating profit grew more than three times to SEK 33 million.

"The new framework agreements that we signed earlier in the year are set to generate initial volume production in the third quarter. Combined with the orders that customers have postponed this indicates good capacity utilization in the upcoming quarters," said Leif Thorwaldsson, president and CEO.

Ed.: 1 SEK = 0.141826 USD