STOCKHOLM, Sweden, July 18, 2002 (PRIMEZONE) -- PartnerTech:
-- Net sales increased to SEK 688.8 million (599.6).
-- Result after financial items was SEK -34.1 million (-27.3).
-- Earnings per share after full income tax totaled SEK -2.49 (-2.51).
-- Cash flow after investments was positive at SEK 61.3 million (-33.4).
-- Equity/assets ratio rose to 40.7% (34.6).
-- Cost savings improve earnings but still a tentative market
Market trends
Demand remained slow in the first half of 2002. But volumes weresomewhat higher in the second quarter than the first quarter,particularly compared to January and February. While the market is stillcautious, there are considerable variations among sectors and individualcustomers.
Volumes in the telecom infrastructure segment has from a very low level increased steadily throughout the first six months of 2002. Both 2G and 3G telephony systems improved.
Demand varied widely during the first half of the year among customers in the IT/mechatronics segment. But demand was generally weak, particularly compared to previous years.
The medical equipment segment began the year poorly, generating smaller volumes than expected, partly because of displacement of commissioned work. There was no significant change in demand during the second quarter.
Net sales, profit and profitability Net sales rose by 15% to SEK 688.8 million (599.6) from the first six months of 2001. Vellinge Electronics, which PartnerTech acquired in the fourth quarter of 2001, accounted for a large percentage of the improvement in the IT/mechatronics and medical equipment segments. Total volumes declined by 20% for comparable units. Volumes were down 13% in the second quarter.
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