Interim Report January - June 2003
Net sales were SEK 652.6 million (688.8). The loss after financial items was SEK -23.5 million (-34.1). Earnings per share after full income tax totaled SEK -1.74 (-2.49). Cash flow after investments was negative at SEK -15.8 million (61.3). Cost reductions during slow business cycle and low volumes produce results Market trends The first half of 2003 was characterized by weak ongoing economic trends. Although demand on the market declined considerably during the first quarter, it leveled off and remained relatively stable during the second quarter. Signs of a tentative recovery emerged toward the end of the period. Demand for the IT/mechatronics business unit varied a great deal. There were major discrepancies in purchasing patterns among market areas and customers. Such disparities have grown during the period. Following a slow first quarter, the telecom infrastructure business unit managed to arrest its decline. Second quarter demand was weak but relatively stable. Volumes for the first half of the year were approximately half of the same period of 2002. While a slight tendency toward higher volumes was noticeable during the second quarter, there was palpable downward pressure on prices. The medical equipment market was cautious, the business unit experiencing generally poorer demand and lower volumes than in the first half of 2002. Upcoming financial report The July-September 2003 interim report will be released on October 20. PartnerTech AB, July 16, 2003 Mikael Jonson CEO For additional information, please call Mikael Jonson, CEO, at +46 70 678 10 01, or Jonas Arkestad, Financial Manager, at +46 70 659 15 10. The company's auditors have not examined this interim report. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/07/16/20030716BIT00040/wkr0001.doc The full report http://www.waymaker.net/bitonline/2003/07/16/20030716BIT00040/wkr0002.pdf The full report