© Partnertech Electronics Production | May 05, 2011
Partnertech improves net sales 10% Y-o-Y
Net sales for Partnertech increased from the 1Q/2010 to SEK 586.7 million (557.4), an improvement of SEK 55.1 million or 9.9%. The Industry and Information Technology market areas reported the largest gains.
Main Point • Net sales were SEK 586.7 million (557.4) • Operating profit was SEK 3.1 million (-1.7), after restructuring costs of SEK 7.4 million for consolidation of the British business in Cambridge • Loss after tax was SEK -4.3 million (-5.1) • Earnings per share after tax totalled SEK -0.34 (-0.41) • Cash flow after investments amounted to SEK 15.6 million (-11.3) • The equity/assets ratio was 36.7% (41.4) on March 31 Business continues to improve PartnerTech's business continued to improve in the first quarter, while both sales and operating earnings were higher than the same quarter of 2010. Market activity was brisker and new orders were announced. The Industry and Information Technology market areas reported the largest growth compared with the first quarter of 2010. Improved earnings were due to the measures and adjustments we have adopted at most of our units, along with higher sales. The previously announced consolidation of our British business to our Cambridge unit reduced operating profit, which would have been SEK 10.5 million without these costs.