Viasystems Sees Q4 EMS Demand Fall
ST. LOUIS – Viasystems Group today announced fourth-quarter net sales fell 11.1% year-over-year, but increased 8.5% sequentially to $131.4 million on stronger demand in automotive, telecommunications and computer/datacom.
For the quarter ended Dec. 31, electronics manufacturing services sales were $30.8 million, down 14% from the third quarter 2009, on lower demand in the industrial and instrumentation end-markets.
Net sales in the company’s printed circuit board (PCB) segment were $100.6 million, up 18% sequentially. Automotive and industrial and instrumentation markets demand were up 12% and 31%, respectively.
It was the second consecutive quarter of overall sales improvement. Bookings were approximately $151 million, resulting in a book-to-bill ratio of 1.15. Gross margin percentage improved sequentially by 180 basis points to 22.5%. Operating income more than doubled sequentially, to $2.5 million.
“The continuing recovery of demand in our markets is encouraging,” said David M. Sindelar, chief executive, in a press release.
During the quarter, Viasystems completed its purchase of Merix and expects to achieve $20 million in cost synergies once the firms are fully integrated.
