PartnerTech Reports Q3 Sales Up 11%
VELLINGE, SWEDEN – Contract manufacturer PartnerTech reported third-quarter 2011 net sales of SEK 535.6 million, up 11.1% year-over-year.
The company reported a loss after tax of SEK 5 million, compared to a loss of SEK 28.4 million in last year’s third quarter.
Operating profit was SEK 10 million, compared to a loss of SEK 5.3 million in the same period of 2010.
For the first nine months of the year, net sales were SEK 1.7 billion, up 7.7% compared to the year-ago period. Operating profit was SEK 18.1 million, compared to a loss of SEK 21.8 million last year.
“This was our fourth successive quarter with a positive operating margin. Third-quarter sales of SEK 535.6 million reflected improvement in every market area, with the exception of Point of Sale Applications and MedTech and Instrumentation,” said Leif Thorwaldsson, president and CEO.
“We opened a unit in Cambridge, which now comprises all of our British operations, including production and a customer center in the city’s technology cluster. The initiative represented an additional step in upgrading our customer center and completing the consolidation process in the UK.
“Conditions in the contract manufacturing market are generally favorable at the moment, and the third quarter offered no indications of a slowdown. Nevertheless, financial uncertainty in global markets makes it difficult to project future trends.”
US$1 = SEK 6.3551
