Viasystems Group Turns To Profit In Q4 - Quick Facts

(RTTNews) - Viasystems Group Inc. (VIAS) said that its fourth-quarter of 2013 net income attributable to common stockholders was $4.76 million or $0.23 per share, compared to a net loss of $14.57 million or $0.73 per share in the year ago quarter.

Adjusted net income attributable to common stockholders was $8 thousand or break even per share, compared to a loss of $7.98 million or $0.40 per share in the prior year quarter.

Net sales were $303.4 million in the latest-quarter, a year-over-year increase of 10.9%. The year-over-year increase of 10.9% was primarily the result of i) recovery of Printed Circuit Boards segment capacity that was unavailable in the same quarter in the prior year following the September 2012 fire in a company factory in China, and ii) increased Assembly segment business won to replace reduced demand following a mid-2012 customer decision to take production back into its own factories.