PartnerTech recovers after difficult fourth quarter
Editor: Staff Editor
PartnerTech is boucing back from a difficult fourth quarter. However, the first quarter of 2013 is showing some declines compared to Q1 of 2012.
Net sales were SEK 554 million (EUR 64.9 million),compared to SEK 611 million for same period previous year.
Operating earnings totaled SEK 8 million (EUR 938'327), compared to SEK 21 million for same period previous year.
Profit/Loss after tax amounted to SEK 2 million (EUR 234'581), compared to SEK 12 million for same period previous year.
Cash flow after investments amounted to SEK -51 million (EUR -5.98 million), compared to -18 million for same period previous year.
The equity/assets ratio was 37 percent (38) on March 31st
“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,” said Leif Thorwaldsson, President and CEO.
1 SEK = 0.11751 EUR (Oanda, 19 April 2013)
