Viasystems Group Sees Q1 Net Sales of $262M vs $257M Est

Viasystems Group, Inc.

today announced estimates of the company's first quarter sales and operating income. The company also announced plans for an upcoming presentation to investors. Estimated net sales were $262 million in the quarter ended March 31, 2012, a year-over-year increase from the corresponding quarter of approximately 10%, and a seasonal sequential decrease from the prior quarter of approximately 3%. Total orders in the first quarter of 2012 improved both year-over-year and sequentially, and were approximately 8% greater than estimated net sales for the period. Estimated operating income was $5 million for the quarter ended March 31, 2012, which is net of i) approximately $7 million restructuring costs in connection with the previously announced closures of two factories in China, and ii) approximately $1 million costs incurred in connection with the previously announced acquisition of DDi Corp. Estimated Adjusted EBITDA was $33 million in the first quarter, a year-over-year increase of approximately 13% from the corresponding quarter, and a sequential decrease from the prior quarter of approximately 25%. A reconciliation of estimated Adjusted EBITDA to estimated operating income for the first quarter of 2012 is set forth below.