Viasystems Reports Q3 Net Loss of $9.5M | Print |  E-mail
Written by Chelsey Drysdale   
Thursday, 08 November 2012 05:45

ST. LOUISViasystems Group reported a net loss of $9.5 million in the third quarter ended Sept. 30, compared to a profit of $7.4 million in the same quarter last year, according to published reports.

The company reported net sales of $327.4 million, up 17% year-over-year.

The firm attributes the loss mostly to restructuring, plant closing costs, and costs related to a fire at one of its facilities.

Expenses during the period included $5.9 million related to a workforce reduction at its printed circuit board plants in China; $4 million related to inventories damaged in a fire in Guangzhou City; $2.5 million related to the closing of two factories in China, and $800,000 for mergers, acquisitions and related integration activities. Viasystems closed on its acquisition of fellow PCB maker DDi in June.

The firm reported a net loss of $33 million on sales of $296.9 million in the second quarter of 2012.

Last Updated on Thursday, 08 November 2012 05:48




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