KISTA, SWEDEN – Note reported second quarter sales increased 25% to $46.7 million, boosted by acquisitions and organic growth.

Profit after tax was up 37% year-over-year to $2.5 million. Operating profit for the April to June quarter increased 30% to $3.3 million.

For the first six months of 2019, sales increased 28% year-over-year to $90 million.

Profit after tax for the first six months was 50% to $4.7 million. Operating profit was up 42% to $6.1 million.  

“Note continues to develop strongly,” said CEO Johannes Lind-Widestam. “During the first half of the year, sales increased by 28% to SEK 843 million. Excluding additional sales in our British company Speedboard Assembly Services, which was acquired in the fourth quarter, growth was 15%. We still win many new customers, both in traditional industries and in new fast-growing application areas. New major customer partnerships announced during the year include DeLaval, Laerdal Medical, Maven Wireless, Micropower and Unipower.

“Operating profit for the first half increased 42% to SEK 57 million, a result of continued growth, stable operating costs and a strong development, not least in our Western European plants.

“The order backlog at mid-year was at a record high level, and we have several larger, exciting customer projects now entering batch production.”

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