Bruce<br>McMaster PCB | October 28, 2004
DDi reports higher 3Q net sales
PCB-Producer DDi CORP reported third quarter 2004 net sales of $72.2 million, a 22% increase compared to net sales of $59.4 million for the third quarter 2003. On a sequential basis, however, net sales decreased by 4%, from $75.5 million reported for the second quarter 2004.
The decrease in net sales from the second quarter was due to weakness in the North American PCB market. As noted in the Company’s press release dated October 12, 2004, announcing DDi’s revised third quarter outlook, average pricing for quick-turn orders (those with lead-times of 10 days or less) was relatively flat, but unit demand fell, as compared to the second quarter 2004. For longer-lead orders, average pricing and unit volume both declined. On average, pricing declined 7% from the second quarter 2004. “North American PCB pricing and demand both fell short of our original expectations for the third quarter,” commented Bruce McMaster, Chief Executive Officer. “We are pleased to report that we have seen both pricing and unit demand stabilize during the month of October. However, we are not seeing a return to the pricing levels experienced on our longer-lead orders during the second quarter of 2004,” said McMaster. Gross profit for the third quarter 2004 was $6.5 million (9% of net sales) as compared to $6.6 million (11% of net sales) for the third quarter 2003. Click here to read the report in full (PDF).
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