PartnerTech Swings to Q3 Loss
MALMO, SWEDEN – PartnerTech reported third-quarter net sales of SEK 530 million, up 0.38% year-over-year. The electronics manufacturer posted after-tax losses of
SEK 10 million for the quarter, compared to profits of SEK 7 million in the same period last year.
The operating loss totaled SEK 6 million, compared to an operating profit of SEK 11 million in the third quarter of 2013. The company said operating profit was affected by continued lower volumes both in the Systems Integration and Metal Precision divisions.
During the third quarter, the Electronics division reported growth of 14%, but ramp-up costs for the operations in China affected operating profit negatively.
In the Systems Integration division, several customers have shown increased activity, but the results of this did not yet materialize, and volumes were still lower than the same period last year, the firm says.
Ed.: SEK 1 = US$0.1378
