PartnerTech Interim Report January - September 2011

THIRD QUARTER OF 2011

•
Net sales were SEK 535.6 million (482.1)

• Operating profit was SEK 10.0
million (-5.3)

• Loss after tax was SEK -0.8 million (-9.5)

• Earnings per
share after tax totaled SEK -0.07 (-0.75)

• Cash flow after investments
amounted to SEK 2.1 million (-44.9)

FIRST NINE MONTHS OF 2011

• Net sales
were SEK 1,684.3 million (1,563.5)

• Operating profit increased by SEK 39.9
million to SEK 18.1 million
(-21.8)

• Loss after tax was SEK -5.0 million
(-28.4)

• Earnings per share after tax totaled SEK -0.39 (-2.24)

• Cash flow
after investments amounted to SEK 18.0 million (-47.6)

• The equity/assets
ratio was 37.6% (36.8) on September 30

A WORD FROM THE CEO

It is with great
satisfaction that I can announce that PartnerTech
enjoyed higher profitability,
improved asset turnover and solid growth
in the third quarter. This was our
fourth successive quarter with a
positive operating margin. Third quarter sales
of SEK 535.6 million
reflected improvement in every market area, with the
exception of Point
of Sale Applications and MedTech & Instrumentation.
Scheduled customer
deliveries that had been postponed from the second quarter
also
contributed to the positive sales trend.

In the light of growing global
competition, I believe that contract
manufacturers like PartnerTech must be
responsive to the increased
demand for flexibility and low-cost production
while continuing to
satisfy the needs of customers for cutting-edge technical
skills. With
that in mind, in the third quarter we continued our ongoing effort
to
improve our processes and raise our level of technical expertise
while
adapting our organization and taking advantage of our
global
infrastructure to more fully address the needs of our customers. As
part
of that strategy, we opened a unit in Cambridge, which now comprises
all
of our British operations, including production and a customer center
in
the city's technology cluster. The initiative represented in additional
step
in upgrading our customer center and completing the consolidation
process in
the UK. Capacity utilization at our new ultramodern plant in
Myslowice, Poland
continued to increase. Along with the facility's sheet
metal working and
systems integration resources, that level of activity
represents an attractive
opportunity for new and old customers alike.
Demand for expanded supply chain
services is growing in the United
States as well.
Conditions in the contract
manufacturing market are generally favorable
at the moment, and the third
quarter offered no indications of a
slowdown. Nevertheless, financial
uncertainty in global markets makes it
difficult to project future trends. In a
scenario where current
financial uncertainty leads to a downturn in the global
economy, the
contract manufacturing industry would feel the consequences.

Even
if such a scenario were to pan out, however, I continue to believe
that our
ongoing internal improvement effort - which we launched in the
wake of the last
financial crisis - along with our skills in selected
application areas, not to
mention our broad geographic and technical
offering, have brought us a long way
towards becoming a stronger and
more competitive organization that is better
equipped to take on the
challenges of the future.

Leif Thorwaldsson

President
and CEO

For complete report, please see attached file.

For additional
information, please call:

Leif Thorwaldsson, President and CEO, tel: +46 40-10
26 41

Åke Bengtsson, CFO, tel: +46 40-10 26 42