Electronics Production | October 19, 2009
Partnertech's sales decrease 13% in 3Q (YoY)
Sweden-based EMS-provider Partnertech reported 3Q-net sales of €46 milion (SEK 478.3 million) - a decline of around €8.9 milion (SEK 92.8 million).
Sales in the third quarter of 2008 that were related to units that have now been divested amounted to €1.8 million (SEK 18.8 million). In other words, sales for comparable units decreased by 13.0%. The economic downturn accounts for most of the decline. Also because of the slow economy, the orders of PartnerTech's customers are placed on shorter and shorter notice. That means greater volatility, thereby creating even more daunting challenges for our operations to meet. Because of exchange rate changes when translating the sales of foreign subsidiaries sales boosted by €464000 (SEK 4.8 million) compared with last year. The group's operating profit for the third quarter was €48000 (SEK 0.5 million). Operating expenses were down by €8 million (SEK 83.1 million), and sales were down by €8.9 million (SEK 92.8 million), from the third quarter of 2008. Return on operating capital was 0.2% (4.5) in the third quarter. Loss after tax was minus €468000 (SEK -3.6 million).