STOCKHOLM – EMS provider Note reported third-quarter sales fell 7% year-over-year to SEK 389.9 million. Operating profit rose by 5% to SEK 28.1 million, while net profits were 18.9 million.

Year to date, sales increased 3% year-over-year to SEK 1.3 billion. Operating profit improved 19% to SEK 83.4 million, while the company’s operating margin grew to 6.5%. Net earnings were SEK 57.3 million.
 
During the quarter, the company acquired production capacity in China and began collaborating with Ionics EMS of the Philippines.
 
Mainly as a result of uncertain telecom demand, sales during the fourth quarter are expected to be lower than previously estimated, Note said.