ST. LOUIS – Viasystems Group today reported third-quarter net sales for its contract assembly segment were $54.4 million, up 7.9% year-over-year.

For the period ended Sept. 30, the EMS segment had operating income of $700,000, down 68.2% compared to the third quarter of 2010.

Net sales in the company’s printed circuit boards segment were $224.4 million, up 7.4% year-over-year. Operating income for the segment was $20.8 million, down 11.9% compared to the same period in 2010.

Overall sales were $278.8 million, up 7.5% year-over-year and 3% sequentially. Adjusted EBITDA was $40.3 million or 14.5% of net sales, down 3.8% year-over-year, and up 17.5% sequentially.

CEO David M. Sindelar said, “[W]e were able to offset the significant labor and materials cost inflation we experienced in the first half through our price-increase efforts and, as a result, we realized sequential margin improvement.”

He added, “Our third-quarter sales benefited from the new capacity brought online during the prior quarter in our largest automotive products factory in China. Continuing capacity expansion efforts in that factory remain on pace to allow us to seamlessly transfer production out of one of our smaller automotive products factories before Dec. 31, 2012, the end of the lease period. In addition, in November we began relocating our Juarez, Mexico, operations to our newly renovated, larger facility nearby.”

The firm expects a sequential decline of total sales in the fourth quarter, similar to the decline experienced in the same period last year.

Viasystems provides multilayer printed circuit boards and electro-mechanical solutions.

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