Viasystems Group, Inc. (NASDAQ:VIAS), a leading provider of complex multi-layer printed circuit boards and electro-mechanical solutions, today announced estimates of the company’s fourth quarter sales and operating income. The company also announced plans for upcoming presentations to investors.
- Estimated net sales were $269 million in the quarter ended December 31, 2011, a year-over-year increase of approximately 10%, and a seasonal sequential decrease from the immediately preceding quarter of approximately 4%.
- Total orders in the fourth quarter improved both year-over-year and sequentially, and were slightly greater than estimated net sales for the period.
- Estimated operating income was $23 million for the quarter ended December 31, 2011, a year-over-year increase of more than 17%, and a sequential increase of approximately 8%.
- Estimated Adjusted EBITDA was $44 million in the fourth quarter, a year-over-year increase of approximately 22%, and a sequential increase of approximately 9%.
- All estimates are subject to completion of the company’s annual audit.
“Despite continued uncertainty in the global economy, we are pleased with the way 2011 ended for Viasystems,” stated Chief Executive Officer David M. Sindelar. “We always expect a seasonal downturn of demand during the yearend holidays, but we took measures to position our Chinese PCB factories to come to the aid of customers left without products previously produced by flooded Thai manufacturers. We estimate that approximately $6 million of our fourth quarter net sales were derived from orders previously placed with PCB manufacturers in Thailand.”
“With a relatively stable cost environment during the quarter, combined with a rich product sales mix, we expect to report both year-over-year and sequential quarterly improvement in our profitability, following the completion of our annual financial statement audit,” continued Mr. Sindelar. “In particular, our PCB net sales, with higher overall operating margins, increased to approximately 83% of our total net sales in the final quarter of the year.”
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