DANDERYD, SWEDEN -- EMS provider Note swung to a March quarter net loss on lower demand in all regions.

The printed circuit board assembler reported sales of SEK 214.8 million ($32.9 million), down 21.8% from a year ago. The operating profit fell 97% to SEK 300,000, and the operating margin was 0.1%, down from 4%. Gross margin fell 3.1 percentage points to 7.4%.

The after-tax loss was SEK 1.1 million, down from a profit of SEK 7.1 million last year.

About 5% of sales in the period were to a customer that has been experiencing financial difficulty. Note is taking a pretax provision of SEK 12.6 million, representing over 50% of its potential exposure to the customer.

1 SEK = 0.152954 USD