NOTE Reports Strong Results for 1Q 2016

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EMS firm NOTE has reported sales of SEK 279.1 million for the period January-March 2016, up by 1% over the same period last year. Operating profit went up to SEK 14.2, while operating margin expanded by 0.8 percentage points to 5.1%. The company’s profit after tax increased to SEK 10.2 million, corresponding to SEK 0.35 per share.

“NOTE is one of the most competitive electronics manufacturers in the Nordics. In the first quarter we experienced continued positive development with several new customers, improved profitability and strong cash flow,” said Stefan Hedelius, CEO and president of NOTE. “Increased sales and an expanded service content, in combination with continued cost efficiency, resulted in operating profit increasing SEK 2.3 million to SEK 14.2 million, and an expansion of the operating margin by 0.8 percentage points to 5.1%. It is also satisfying to see that after generating fourth-quarter cash flow of SEK 25.4 million, we achieved a strong cash flow again in the first quarter, of SEK 27.1 million.

“Our order book, suggests continued positive sales performance. Additionally, NOTE is prepared to play a more active role in the future structural transformation of the European EMS sector–my ambition is to further increase customer value and enhance our profitable sales growth.”