PCB | March 01, 2010

Viasystems to increase revenue

US based PCB manufacturer Viasystems Group, Inc. reported net sales of $131.4 million for the three months ended December 31, 2009, an 8.5% increase compared with the three months ended September 30, 2009.
An 11.1% decrease from net sales during the same period in 2008. The sequential increase is due to stronger demand in the automotive, telecommunications, and computer/datacom end markets.

Net sales increased 8.5% sequentially, to $131.4 million. This was the second consecutive quarter of overall sales improvement. Bookings were approximately $151.0 million, resulting in a book-to-bill ratio of 1.15. Gross margin percentage improved sequentially by 180 basis points to 22.5%. Operating income more than doubled sequentially, to $2.5 million. Adjusted EBITDA increased to $18.6 million, and Adjusted EBITDA margin percentage increased 140 basis points sequentially to 14.2%. Unrestricted cash on December 31, 2009, was $109.0 million.

“The continuing recovery of demand in our markets is encouraging,” said David M. Sindelar, Chief Executive Officer of Viasystems. “Having completed the acquisition of Merix Corporation earlier this month, we now have the industry’s finest array of high tech and quick-turn capabilities, which positions Viasystems to bring more value to our combined customer base and to make the most of the market recovery,” Mr. Sindelar said. “Our immediate focus is the successful integration of the two businesses and the achievement of the $20 million cost synergies identified from the merger.”


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