This Day On The Street
Continue to site
ADVERTISEMENT
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

Viasystems Announces Third Quarter 2013 Results

Viasystems Group, Inc. (NASDAQ:VIAS), a leading provider of complex multi-layer printed circuit boards and electro-mechanical solutions, today announced results for the third quarter ended September 30, 2013.

Highlights

  • Net sales were $309.2 million in the quarter ended September 30, 2013, a sequential increase over the immediately preceding quarter of 8.3%, and a year-over-year decrease of 5.6%.
  • Operating income in the quarter ended September 30, 2013, was $6.4 million, or 2.1% of net sales.
  • Adjusted EBITDA in the quarter ended September 30, 2013, was $32.9 million, or 10.6% of net sales, compared with $41.2 million, or 12.6% of net sales, in the quarter ended September 30, 2012, and compared with $30.7 million, or 10.8% of net sales, in the immediately preceding quarter.
  • U.S. GAAP loss per basic and diluted share was $(0.45) for the quarter ended September 30, 2013, on approximately 20 million average shares outstanding.
  • Adjusted EPS was a loss of $(0.19) for the quarter, excluding certain non-cash and special income and expense items. Adjusted EPS for the quarters ended September 30, 2012, and June 30, 2013, were $0.27 and $(0.28), respectively.

“I am encouraged by our achievement of the sequential sales growth we targeted for the quarter,” commented David M. Sindelar, Chief Executive Officer of Viasystems. “Each of our end markets showed signs of improvement, with the exception of our military and aerospace end market, which has been affected by the U.S. government budget issues.”

“Order intake in the first nine months of 2013 exceeded sales by almost 5%,” continued Sindelar. “Further, orders received in the third quarter were consistent with orders received during the prior quarter, exceeding our third quarter sales by about 2%. Subject to normal yearend holiday slowdowns, I expect our fourth quarter sales level to be consistent with our most recent result.”

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
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!
SYM TRADE IT LAST %CHG

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs