PartnerTech's Preliminary Six-Month Results about three times better than the Same Period Last Year

PartnerTech's Preliminary Six-Month Results about three times better than the Same Period Last Year PartnerTech's preliminary midyear accounts show net sales of SEK 398.2 million, which is a 55 % increase compared with the same period last year (257.4). Results after financial items are SEK 29.0 million, which is a 287% increase compared with the same period last year (10.1). The recent acquisition of HP Tronics is not included in the consolidated results since the takeover did not occur until July 1, 1999. "We have had positive growth since the fourth quarter in 1998. The main reason for the profit increase is the increase in volume, mainly in information technology and telecommunications. Another contributing factor is a number of cost reductions where, however, several are more of a non-recurring nature", says Mikael Jonson, CEO of PartnerTech. PartnerTech AB (public listed) develops and manufactures electronic products under contract for leading growth companies, mainly within telecommunications, information technology and medical technology. The company is quoted on the Swedish Stock Exchange and had 1998 a full year net sales of SEK 586 million and results after financial items of SEK 25 million. Additional information can be provided by PartnerTech CEO Mikael Jonson, tel: 070-678 1001. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/07/13/19990713BIT00280/bit0001.doc http://www.bit.se/bitonline/1999/07/13/19990713BIT00280/bit0002.pdf