DANDERYD, SWEDEN -- NOTE reported second-quarter revenue fell 18.6% year-over-year on broad-based slowdown.

Net profit for the EMS provider was SEK 2 million, down 71%. Sales for the period ended June 30 were SEK 236.1 million. Operating margin was 1.5%, down from 3.6%. The profit after one-time items and taxes was SEK 2.6 million, down from SEK 8.9 million. Cash flow after investments was SEK 2 million, versus 13 million a year ago.

"We witnessed continued poor demand in several of our geographical markets. Sales performance in Finland and Norway was more stable. Direct sales from industrial plants in Estonia and China, which are mainly to customers in Europe, increased, representing 20% of total sales," said CEO and president Peter Laveson.