This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Viasystems Announces Third Quarter 2011 Earnings

Stocks in this article: VIAS

Net sales and operating income in the Company’s Assembly segment for the third quarter were $54.4 million and $0.7 million, respectively, compared with Assembly segment net sales and operating income of $50.4 million and $2.2 million, respectively, for the third quarter of 2010 and compared with Assembly segment net sales and operating income of $55.6 million and $2.9 million, respectively, for the quarter ended June 30, 2011. Sustained sequential demand for products used in industrial & instrumentation applications in the quarter ended September 30, 2011 resulted in a year-over-year Assembly segment net sales increase, partly offset by a demand decline for products used in telecommunications applications. Assembly segment net sales to customers in the Company’s computer and datacommunications end market increased both year-over-year and sequentially as a result of ramping production for a new customer.

Cash and Working Capital

Cash and cash equivalents at September 30, 2011, were $68.5 million, compared with $103.6 million at December 31, 2010. Cash provided by operating activities was $40.0 million during the nine months ended September 30, 2011, of which $22.3 million was provided by third quarter operating activities. Cash used for payment of interest and income taxes during the nine months ended September 30, 2011 was $27.1 million and $9.8 million, respectively, of which $13.4 million and $3.2 million, respectively, was paid during the quarter ended September 30, 2011. The Company’s working capital metrics at the end of the third quarter were in line with historical levels.

Capital expenditures for the nine months ended September 30, 2011 were $75.1 million, of which $25.3 million was spent during the third quarter. Cash used for capital expenditures during the nine months ended September 30, 2011, was the primary cause for the overall use of cash as compared to cash and cash equivalents at December 31, 2010.

Use of Non-GAAP Financial Measures

In addition to the condensed consolidated financial statements presented in accordance with U.S. GAAP, management uses certain non-GAAP financial measures, including “Adjusted EBITDA” and “Adjusted EPS.”

4 of 7

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs