DDi Corp. Announces Preliminary First Quarter 2012 Results; Full Financial Results To Be Announced On April 24, 2012
DDi Corp. (NASDAQ: DDIC), a leading provider of time-critical, technologically advanced electronic interconnect design, engineering and manufacturing services, today announced preliminary unaudited financial results for its first quarter ended March 31, 2012.
- Estimated net sales for the first quarter of 2012 were $68.9 million, a sequential increase of 6.8% from $64.5 million from the fourth quarter of 2011 and an increase of 3.7% from $66.5 million for the first quarter of 2011. Our book-to-bill ratio for the first quarter of 2012 was approximately 1.08:1. The increase in net sales both sequentially and year-over-year are primarily due to stronger demand for products in the communications, computer, consumer electronics and automotive end markets. These increases were partially offset by lower sales in the military and aerospace, instrumentation and medical and business retail end markets.
- Estimated gross profit margin for the first quarter of 2012 was 22.3%, a sequential decrease of 60 basis points from 22.9% and an increase of 100 basis points from 21.3% in the first quarter of 2011.
- Estimated operating income for the first quarter of 2012 was $6.8 million, a sequential decrease of 3.2% from $7.0 million in the fourth quarter of 2011 and a year-over-year increase of 26.4% from $5.4 million in the first quarter of 2011.
- Estimated net income and fully diluted earnings per share in the first quarter of 2012 were $6.3 million and $0.30, respectively, down sequentially from $6.7 million and $0.32, respectively, in the fourth quarter of 2011, and up from $5.0 million and $0.24 respectively, in the first quarter of 2011.
- Estimated Adjusted EBITDA for the first quarter of 2012 was $9.6 million and was flat compared to the fourth quarter of 2011 and up from $8.0 million in the first quarter of 2011.
The Company will issue its first quarter 2012 earnings release on Tuesday, April 24, 2012, after market close; DDi will not be conducting a conference call for the first quarter of 2012. The estimated results in this release are preliminary and subject to completion and review of DDi’s full first quarter financial statements by DDi’s independent registered public accounting firm in conjunction with our 2012 first quarter Form 10-Q filing.
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