Cost savings improve earnings but still a tentative market

Net sales increased to SEK 688.8 million (599.6). Result after financial items was SEK -34.1 million (-27.3). Earnings per share after full income tax totaled SEK -2.49 (-2.51). Cash flow after investments was positive at SEK 61.3 million (-33.4). Equity/assets ratio rose to 40.7% (34.6). Cost savings improve earnings but still a tentative market Market trends Demand remained slow in the first half of 2002. But volumes were somewhat higher in the second quarter than the first quarter, particularly compared to January and February. While the market is still cautious, there are considerable variations among sectors and individual customers. Volumes in the telecom infrastructure segment has from a very low level increased steadily throughout the first six months of 2002. Both 2G and 3G telephony systems improved. Demand varied widely during the first half of the year among customers in the IT/mechatronics segment. But demand was generally weak, particularly compared to previous years. The medical equipment segment began the year poorly, generating smaller volumes than expected, partly because of displacement of commissioned work. There was no significant change in demand during the second quarter. Net sales, profit and profitability Net sales rose by 15% to SEK 688.8 million (599.6) from the first six months of 2001. Vellinge Electronics, which PartnerTech acquired in the fourth quarter of 2001, accounted for a large percentage of the improvement in the IT/mechatronics and medical equipment segments. Total volumes declined by 20% for comparable units. Volumes were down 13% in the second quarter. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/07/18/20020718BIT00060/wkr0001.doc The full report http://www.waymaker.net/bitonline/2002/07/18/20020718BIT00060/wkr0002.pdf The full report

About Us

PartnerTech develops and manufactures products under contract for leading companies, primarily in Defense and Maritime, Industry, Information Technology, MedTech and Instrumentation, CleanTech and Point of Sale Applications. With upwards of 1,300 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 billion. PartnerTech AB (www.partnertech.com), the parent company, has its head office in Vellinge, Sweden, and is listed on the Nasdaq OMX Stockholm Exchange.