VELLINGE, SWEDEN -- Electronics manufacturing services firm PartnerTech reported a first-quarter net loss of SEK 4.3 million ($700,000), up 16% from a year ago.

Net sales were SEK 586.7 million ($95.5 million), up 5.3% from last year, on higher demand for industrial and information technology products. The EMS company's operating profit was SEK 3.1 million, up from a loss of 1.7 million.

The contract printed circuit board assembler took restructuring charges of SEK 7.4 million during the period for consolidation of its UK operations. Without the one-time charges, the operating profit would have been SEK 10.5 million. Cash flow after investments was SEK 15.6 million, reversing an outflow of 11.3 million last year.

PartnerTech is the world's 37th largest EMS firm, according to the CIRCUITS ASSEMBLY Top 50.

Ed.: 1 SEK = 0.162812 USD

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