Advanced Circuits' 2012 Sales Rise, Aided by Acquisitions | Print |  E-mail
Written by Mike Buetow   
Thursday, 07 March 2013 14:48

AURORA, CO -- Printed circuit board fabricator Advanced Circuits reported 2012 net sales rose 7.5% year-over-year to $84.1 million.

Operating income for the period ended Dec. 31 fell 9.8% to $24 million. As of Dec. 31, Advanced Circuits had total assets of $91.4 million, up 3%.

ACI added over 170 new customers per month in 2012 and ended the year with 11,000 customers in total. It now employs 517 workers.

Compass Diversified Holdings, ACI's parent company, reported a fourth-quarter net loss of $5.2 million for the period ended Dec. 31, down from $58.6 million last year. During the fourth quarter 2011, Compass recorded a one-time $88.6 million gain on the sale of Staffmark, partially offset by a $20.1 million non-cash impairment charge related to a furniture manufacturing subsidiary. Sales for the period rose 36.3% to $218.2 million.

For the 12 months ended Dec. 31, Compass reported net income of $4.3 million, as compared to net income of $72.8 million in 2011, which included the previously mentioned $88.6 million gain on the sale of Staffmark. Overall sales were up 45.8% to $884.7 million.

Compass acquired Advanced Circuits, which specializes in prototype and quickturn PCB fabrication, in May 2006 for approximately $81 million. In 2011 it added Circuit Express, for approximately $16.1 million, which had sales of $18.7 million in fiscal 2011, and in May 2012 Advanced Circuits acquired Universal Circuits for approximately $2.3 million.

 

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