Earnings improved during the quarter – action programs according to plan
Third quarter sales were 2% above the year-ago period while operating earnings rose slightly to SEK 11 million. The positive trend was due primarily to the Electronics operating segment, which continued to perform well due to high capacity utilization at most of its units. As a result, we were able to balance the sharp, ongoing decline within Machining, where the effort to adapt operations to lower volumes for the Defense market area accelerated. Nevertheless, the inflow of new non-defense customers was satisfactory. The improvement within Systems Integration was largely attributable to our attractive range of engineering services and our ability to deliver technically advanced products. Our offering for the Norwegian oil and gas market has also been well received during the quarter.
Leif Thorwaldsson, President and CEO
Third quarter of 2013
- Net sales were SEK 528 million (517)
- Operating profit totaled SEK 11 million (10)
- Profit after tax was SEK 7 million (1)
- Earnings per share after tax amounted to SEK 0.59 (0.11)
- Cash flow after investments amounted to SEK -26 million (30)
First nine months of 2013
- Net sales were SEK 1,655 million (1,692)
- Operating profit totaled SEK 22 million (42)
- Profit after tax was SEK 6 million (14)
- Earnings per share after tax amounted to SEK 0.46 (1.11)
- Cash flow after investments amounted to SEK -50 million (14)
- The equity/assets ratio was 38% (40) on September 30
For complete report, see attached file.
For more information, please contact:
Leif Thorwaldsson, President and CEO, Tel: +46 (0) 40 10 26 41
Åke Bengtsson, CFO, Tel: +46 (0) 40 10 26 42
PartnerTech (publ) is required to publicly disclose the information in this press release pursuant to the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for public disclosure at 8.30 am on October 25th, 2013.
PartnerTech
PartnerTech develops and manufactures products under contract for leading companies, primarily in Information Technology, Industry, CleanTech, MedTech and Instrumentation, Defense and Maritime and Point of Sale Applications. With approximately 1,400 employees at its plants in Sweden, Norway, Finland, Poland, the UK, the United States and China, PartnerTech reports annual sales of more than SEK 2,2 billion. PartnerTech AB (www.partnertech.com), the parent company, has its head office in Malmö, Sweden, and is listed on the Nasdaq OMX Stockholm Exchange.
Leif Thorwaldsson, President and CEO, Tel: +46 (0) 40 10 26 41 Åke Bengtsson, CFO, Tel: +46 (0) 40 10 26 42
