Viasystems Group, Inc. (NASDAQ:VIAS), a leading provider of complex multi-layer printed circuit boards and electro-mechanical solutions, today announced estimates of net sales and operating income for the first quarter ended March 31, 2014.
- Estimated net sales for the quarter ended March 31, 2014, are expected to be in the range of $290 million to $300 million, representing a year-over-year increase range of 6% to 10% compared to the first quarter 2013, and representing a seasonal sequential decrease from the $303 million net sales reported for the immediately preceding quarter.
- Estimated operating income for the quarter ended March 31, 2014, is expected to be in the range of $4 million to $6 million, compared to operating income of $2.6 million for the first quarter of 2013.
- After adjusting operating income to exclude approximately $25 million of estimated non-cash charges for depreciation and amortization and for stock compensation expense for the quarter ended March 31, 2014, estimated Adjusted EBITDA is expected to be in the range of $29 million to $31 million.
The company will provide additional information on its regular first quarter earnings release and its first quarter 2014 earnings conference call, scheduled for mid-May. Viasystems will broadcast the call live via the Internet. The live listen-only audio of the conference will be available at the company’s website www.viasystems.com.
The estimated results in this release are preliminary and subject to completion and review of our full first quarter financial statements by our independent registered public accounting firm in conjunction with our 2014 first quarter Form 10-Q filing.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.”