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
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

DDi Corp. Announces First Quarter 2012 Results

DDi Corp. (NASDAQ: DDIC), a leading provider of time-critical, technologically advanced electronic interconnect design, engineering and manufacturing services, today reported financial results for the first quarter ended March 31, 2012.

First Quarter 2012 Highlights:

  • Net sales of $68.9 million and bookings of $74.2 million, for a 1.08 book-to-bill ratio
  • Net income of $6.3 million, or $0.30 per fully diluted share
  • Gross margin of $15.3 million or 22.3% of net sales
  • Adjusted EBITDA of $9.6 million, or 13.9% of net sales
  • Secured $5.6 million mortgage on new Anaheim facility
  • Paid dividend of $0.12 per share of common stock on March 30, 2012
  • Entered into a Merger Agreement with Viasystems Group, Inc.

Mikel Williams, President and Chief Executive Officer of DDi Corp., stated, “I am very pleased with our continued strong performance during the first quarter of 2012. In the first quarter, we strengthened our top line, both sequentially and year over year, and also achieved a record level of bookings. We continue to manage our costs and drive bottom-line performance. We also invested heavily in our capabilities, adding equipment across the business and purchasing a new facility in Anaheim. The new building will house world class capabilities and the move is being well received by our customer base.

“Further, we announced that we have entered into a merger agreement with Viasystems Group Inc., which we believe will deliver significant value to our shareholders. In addition, the combined entity will create a global leader in the printed circuit board industry with world class capabilities both in North America as well as Southeast Asia,” Williams concluded.

First Quarter 2012 Results

Net sales for the first quarter of 2012 were $68.9 million, an increase of 6.8% sequentially, and an increase of 3.7% from the first quarter of 2011. Sequentially, the net sales increase was due in part to the holiday season impact on the prior quarter’s demand levels. Year-over-year, the net sales increase reflects stronger order intake over the prior year period.

Stock quotes in this article: DDIC 

Select the service that is right for you!

COMPARE ALL SERVICES
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.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

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