Recovery after difficult fourth quarter
The first quarter of 2013 developed in a positive direction following a difficult fourth quarter. As the result of our intensive new product introduction effort, sales rose to SEK 554 million, a 1% improvement over the previous quarter. However, the figure represented a 7% decrease from the first quarter of 2012 in local currency and comparable units. Operating profit of SEK 8 million was decidedly better than the fourth quarter but poorer than the year-ago period. While activities within the framework of the action program that we announced in January show results, we must continue to work for greater flexibility and further improved competitiveness. Although volumes from some of our customers continued to decline there was a slight recovery in the first quarter. Meanwhile, also the volumes from our new customers are growing.
Leif Thorwaldsson, President and CEO
First quarter of 2013
- Net sales were SEK 554 million (611)
- Operating earnings totaled SEK 8 million (21)
- Profit/Loss after tax amounted to SEK 2 million (12)
- Earnings per share after tax amounted to SEK 0,14 (0.97)
- Cash flow after investments amounted to SEK -51 million (-18)
- The equity/assets ratio was 37 percent (38) on March 31st
For complete report, see attached file.
For more information, please contact:
Leif Thorwaldsson, President and CEO, Tel: +46 (0) 40 10 26 41
Åke Bengtsson, CFO, Tel: +46 (0) 40 10 26 42
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PartnerTech
PartnerTech develops and manufactures products under contract for leading companies, primarily in Information Technology, Industry, CleanTech, MedTech and Instrumentation, Defense and Maritime and Point of Sale Applications. With approximately 1,400 employees at its plants in Sweden, Norway, Finland, Poland, the UK, the United States and China, PartnerTech reports annual sales of more than SEK 2,2 billion. PartnerTech AB (www.partnertech.com), the parent company, has its head office in Vellinge, Sweden, and is listed on the Nasdaq OMX Stockholm Exchange.
PartnerTech (publ) is required to publicly disclose the information in this press release pursuant to the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for public disclosure at 8.30 am on April 19th, 2013.
Leif Thorwaldsson, President and CEO, Tel: +46 (0) 40 10 26 41
Åke Bengtsson, CFO, Tel: +46 (0) 40 10 26 42
