Interim Report January-March 2004
Interim Report January-March 2004 Earnings Improved Substantially - Number of New Contracts Increased Net revenue increased to SEK 381.1 million (320.2). The profit after tax was SEK 2.7 million (-12.4). Earnings per share after full income tax totaled SEK 0.24 (-1.08). The operating profit amounted to SEK 8.6 million (-12.9). Market Trends PartnerTech made progress in a cautious market. First quarter demand was stable and on level with recent periods. The telecom infrastructure market strengthened. Market conditions were a function of price pressure, the unchanged business cycle and the weak U.S. dollar. The contract manufacturing sector underwent significant changes. Many players reduced their production capacity and presence in Sweden. Furthermore, the impact on contract manufacturing varied considerably from one industry and technology to another. PartnerTech's ongoing focus on mechatronics (the combination of electronics and mechanics in entire systems or products) led to a large number of new orders. PartnerTech, which faces relatively few competitors in that area, enjoys a substantial competitive edge, including wide-ranging technical expertise. The Telecom Infrastructure business unit noted somewhat higher demand in the last six months 2003, continuing during the first quarter 2004. But due primarily to short lead-times among many customers, considerable fluctuations remain. Demand for the IT/Mechatronics business unit varied greatly from one customer and segment to another. Prominent among the growing number of strategic decisions is the outsourcing of production and technical services. The market for the Medical Equipment business unit was weak during the first quarter. Consolidation within the sector is generating changes and new market conditions. PartnerTech develops and manufactures products under contract for leading companies, primarily in telecommunications, IT, the engineering sector and medical technology. The company (www.partnertech.se), which has approximately 1,150 employees, posted sales of more than SEK 1.3 billion in 2003 and is quoted on the O list of the Stockholm Stock Exchange. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/04/26/20040426BIT20780/wkr0006.pdf The full report in pdf http://www.waymaker.net/bitonline/2004/04/26/20040426BIT20780/wkr0008.doc