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Electronics Production | April 27, 2010

Note posts operating loss of SEK 52 million in 1Q/2010

Swedish EMS-provider Note has incurred an operating loss of SEK 52.5 million for the 1Q/2010 (compared to a loss of 8.6 million in 1Q/2009). This includes structural and other non-recurring costs of SEK 44 million.

Sales for the EMS-provider decreased Y-o-Y by 17% to SEK 273.5 million (compared to SEK 329.1 million). 14 percentage points relate to the discontinued Telecom operation. In like-for-like terms, sales fell by 3%, the company announced. The operating margin reached minus 19.2% (compared to minus 2.6%). "The EMS sector is one of the world’s toughest, and arguably the one most affected by globalisation. Note was early to realise that it had big opportunities in combining sophisticated technological and commercial services close to customers, while simultaneously reducing the cost of labour-intensive processes", Göran Jansson, Acting CEO & President at Note states.
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