PartnerTech's Q3 Profits Up Despite Sales Drop PDF Print E-mail
Written by Mike Buetow   
Wednesday, 24 October 2012 09:36

VELLINGE, SWEDEN -- PartnerTech reported third-quarter sales fell 3.7% year-over-year to SEK 517 million ($77.3 million).

The contract electronics manufacturing services provider swung to a net profit of SEK 1 million, up from a loss of SEK 1 million a year ago.

Year to date sales are up just under 1% to SEK 1.69 billion.

The operating profit totaled SEK 10 million for the quarter, and cash flow after investments was SEK 30 million.

"We were able to compensate for the trend of cutbacks and postponements of the second quarter by means of volumes from the new agreements that we signed earlier in the year," said Leif Thorwaldsson, president and CEO. "Deliveries based on these agreements began on schedule and remain at a stable level. We also entered into new framework agreements, some of them covering both product development and manufacturing. The latest one covers advanced medical devices where we can leverage our strong development and manufacturing expertise in this field."

He added that activity in the EMS firm's Chinese and American units is high, and that manufacturing companies are more disposed to consider outsourcing as an option.


Ed.: 1 SEK = 0.149523 USD





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