ST. LOUIS -- Viasystems reported net sales in its printed circuit boards segment for the third quarter of $256.8 million, down 4.7% from last year. The operating profit was $5.7 million, up from $3 million a year ago.

The segment had net sales and operating income of $240.7 million and $4.7 million, respectively, for June quarter.

Viasystems credited stronger demand for PCBs used in the automotive, telecommunications, computer and datacommunications, and industrial & instrumentation equipment, partly offset by soft demand for military and aerospace electronics.

Net sales and operating income in the company’s assembly segment were $52.4 million and $800,000, respectively, down 9.5% and 50%, from the third quarter 2012. The segment had an operating loss of $100,000 on net sales of $44.9 million in the June quarter. Sales decreased in the industrial & instrumentation end-market, but increased in each of the company’s other end markets.

Overall the third-quarter net loss was $9 million, vs. a loss of $10.3 million in the second quarter and $9.5 million last year.

Sales for the period ended Sept. 30 were $309.2 million, up 8.3% sequentially and down 5.6% year-over-year, on lower demand for electro-mechanical products from the industrial & instrumentation end-market, and printed circuit boards for computer and datacommunications and military and aerospace.

Operating income in the quarter was $6.4 million, and adjusted EBITDA was $32.9 million, down from $41.2 million last year.

“I am encouraged by our achievement of the sequential sales growth we targeted for the quarter,” said David Sindelar, chief executive officer. “Each of our end-markets showed signs of improvement, with the exception of our military and aerospace end market, which has been affected by the U.S. government budget issues.”

“Order intake in the first nine months of 2013 exceeded sales by almost 5%. Further, orders received in the third quarter were consistent with orders received during the prior quarter, exceeding our third quarter sales by about 2%. Subject to normal year-end holiday slowdowns, I expect our fourth quarter sales level to be consistent with our most recent result.”

 

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