Viasystems Reports Solid Q4 2014 Results


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Viasystems Group, Inc., a leading provider of complex multi-layer printed circuit boards and electro-mechanical solutions, today announced results for the fourth quarter ended December 31, 2014.

Highlights

Net sales were $308.0 million in the quarter ended December 31, 2014, a year-over-year increase of 1.5%, and a sequential increase from the immediately preceding quarter of 2.9%.

Operating income in the quarter ended December 31, 2014, was $34.6 million, or 11.2% of net sales, including a net favorable impact of approximately $23.0 million related to the previously announced settlement of the business interruption insurance claim in connection with the company’s 2012 factory fire in China (Fire Settlement), and a net unfavorable impact of $1.0 million related to costs incurred in connection with the previously announced agreement to merge with TTM Technologies, Inc.

Adjusted EBITDA in the quarter ended December 31, 2014, was $61.8 million, or 20.1% of net sales, including the net favorable impact of the Fire Settlement, compared with $37.9 million, or 12.5% of net sales, in the quarter ended December 31, 2013, and compared with $35.9 million, or 12.0% of net sales, in the immediately preceding quarter.

U.S. GAAP earnings per basic and diluted share were $0.69 and $0.67, respectively, for the quarter ended December 30, 2014.

Adjusted EPS was $0.05 for the quarter ended December 31, 2014, excluding certain non-cash and special income and expense items. Adjusted EPS for the quarter ended December 31, 2013, was $0.00, and for the quarter ended September 30, 2014, was a loss of $(0.06).

‟The settlement of our business interruption insurance claim certainly helped our reported profit for the period,” noted David M. Sindelar, chief executive officer of Viasystems, “but even without that favorable impact, we had a solid quarter, growing net sales both sequentially and year-over-year.”

About Viasystems

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 14,850 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


About Viasystems Group, Inc. Viasystems Group, Inc. is a technology leader and a worldwide provider of complex multilayer 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 14,300 employees around the world serve over 1,000 customers in the automotive, industrial and instrumentation, computer and datacommunications, telecommunications, and military and aerospace end markets. For additional information, visit http://www.viasystems.com

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