Viasystems Discloses Estimated Fourth Quarter 2012 Sales
Stifel Nicolaus Technology Conference 2013
ST. LOUIS -- January 31, 2013
Viasystems Group, Inc. (NASDAQ:VIAS), a leading provider of complex
multi-layer printed circuit boards and electro-mechanical solutions, today
announced estimates of sales for the fourth quarter ended December31, 2012.
*Estimated net sales were $273.6million in the quarter ended December31,
2012, a year-over-year increase of 1.7%, and a sequential decrease from
the immediately preceding quarter of 16.4%.
*Giving pro forma effect to the May 2012 acquisition of DDi Corp.,
estimated net sales declined 18.0% year-over-year.
*Significant progress in restoring China printed circuit board production
*Management plans to make a presentation at the Stifel Nicolaus Technology
Conference 2013 on February7, 2013.
“Typical yearend seasonal decline in demand was exaggerated in our fourth
quarter by a couple of factors,” stated David M. Sindelar, the company’s chief
executive officer. “First, while we have made progress in restoring full
operations following a fire in one of our Printed Circuit Boards segment
factories in China in September, our recovery was not completed until January
2013. Second, unrelated to the fire and as we anticipated, demand for our wind
energy products dropped steeply in our Assembly segment. I believe that
incoming orders during the quarter were also adversely affected by these
factors as our bookings were at parity with our estimated net sales in the
“In terms of our end markets, our estimated fourth quarter net sales grew
sequentially over the prior quarter in only our military and aerospace sector,
which is served principally from our Printed Circuit Boards segment factories
in the United States,” continued Sindelar. “Estimated net sales into each of
our other sectors, including automotive, industrial & instrumentation,
computer and datacommunications, and telecommunications in the fourth quarter
declined both sequentially and year over year.”
“Despite reduced sales and production levels in our fourth quarter, we
estimate that we were successful in managing our costs to stabilize our gross
margins as a percent of sales at a level consistent with our third quarter
result,” concluded Sindelar. “We expect sales to recover in the first half of
2013 as the production and related orders come back online. We will provide
further commentary on this during our full earnings release next month.”
Estimated net sales of the company’s Printed Circuit Boards segment for the
fourth quarter of 2012 were $236.8million, compared with Printed Circuit
Boards segment net sales of $224.0million for the fourth quarter of 2011 and
compared with Printed Circuit Board segment net sales of $269.5million for
the quarter ended September30, 2012.
Estimated net sales of the company’s Assembly segment for the fourth quarter
of 2012 were $36.8million, compared with Assembly segment net sales of
$45.0million for the fourth quarter of 2011 and compared with Assembly
segment net sales of $57.9million for the quarter ended September30, 2012.
Pro Forma Information
The company’s estimated net sales of $273.6million for the quarter ended
December31, 2012 declined by approximately 18.0% compared to approximately
$333.6million pro forma combined net sales of Viasystems and DDi for the
three months ended December31, 2011, which included approximately
$64.5million of net sales by DDi.
Stifel Nicolaus Technology Conference
Viasystems expects to participate in the Stifel Nicolaus Technology Conference
2013 at the Ritz Carlton in San Francisco, California on February7, 2013. Mr.
Sindelar and Mr. Jerry Sax, the company’s chief financial officer, will make a
presentation to conference attendees at approximately 8:35 a.m. Pacific Time.
Forward Looking Statements
Certain statements in this communication constitute “forward-looking
statements” within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements are made on the basis of the current beliefs,
expectations and assumptions of the management of Viasystems regarding future
events and are subject to significant risks and uncertainty. Statements
regarding our expected performance in the future are forward-looking
statements. Investors are cautioned not to place undue reliance on any such
forward-looking statements, which speak only as of the date they are made.
Viasystems undertakes no obligation to update or revise these statements,
whether as a result of new information, future events or otherwise, except to
the extent required by law. Actual results may differ materially from those
expressed or implied. Such differences may result from a variety of factors,
including but not limited to: legal or regulatory proceedings; the ability of
Viasystems to successfully integrate DDi’s operations, product lines and
technology and to realize additional opportunities for growth; any actions
taken by the company, including but not limited to, restructuring or strategic
initiatives (including capital investments or asset acquisitions or
dispositions); or developments beyond the company’s control, including but not
limited to, changes in domestic or global economic conditions, competitive
conditions and consumer preferences, adverse weather conditions or natural
disasters, health concerns, international, political or military developments
and technological developments. Additional factors that may cause results to
differ materially from those described in the forward-looking statements are
set forth under the heading “Item 1A. Risk Factors,” in the Annual Report on
Form 10-K filed by Viasystems with the SEC on February15, 2012, Item 1A. Risk
Factors,” in the Quarterly Report on Form 10-Q filed by Viasystems with the
SEC on May 9, 2012 and in Viasystems’ other filings made from time to time
with the SEC and available at the SEC’s website, www.sec.gov.
Viasystems Group, Inc. is a technology leader and a worldwide provider of
complex multi-layer printed circuit boards (PCBs) and electro-mechanical
solutions (E-M Solutions). Its PCBs serve as the “electronic backbone” of
almost all electronic equipment, and its E-M Solutions products and services
include integration of PCBs and other components into finished or
semi-finished electronic equipment, for which it also provides custom and
standard metal enclosures, cabinets, racks and sub-racks, backplanes and
busbars. Viasystems’ approximately 14,100 employees around the world serve
over 1,000 customers in the automotive, industrial & instrumentation, computer
and datacommunications, telecommunications, and military and aerospace end
markets. For additional information about Viasystems, please visit the
company’s website at www.viasystems.com.
Viasystems Group, Inc.
Kelly Wetzler, 314-746-2217
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