ST. LOUIS – Viasystems Group reported second-quarter net sales of $296.9 million, up 9.6% year-over-year, and up 13.3% sequentially.

For the three months ended June 30, the firm experienced a net loss of $33 million, compared to net income of $3.6 million in the prior-year period.

Adjusted EBITDA was $44.7 million or 15% of net sales, compared with $34.3 million or 12.7% of net sales in the same quarter of 2011, and compared with $33.1 million or 12.6% of net sales in the prior quarter.

Operating income was $8.7 million, or 2.9% of net sales, compared with $15.1 million or 5.6% of net sales for the second quarter of 2011, and compared with $5.2 million or 2% of net sales for the first quarter of 2012.

During the period, Viasystems completed its acquisition of DDi Corp.

“Our second quarter of 2012 may be defined by two significant events that were accretive to our results: the acquisition of DDi and the refinancing of our senior secured notes,” said CEO David M. Sindelar.

“In a notable turn of events during the second quarter, we gained some momentum in demand for our telecommunications products, following several quarters of lackluster order patterns in that end market,” he said. “Unfortunately, Viasystems is not immune to the overall global softening of demand for electronic components, as we have seen orders flatten or modestly decline across all of our other end markets, and we are feeling more pricing pressures. Taken together, these trends cause us to temper our expectations for sales growth during the second half of the year. In order to provide our investors with some additional clarity on what to expect in our third quarter, given the DDi transaction, we will deviate from our traditional policies and offer revenue guidance of $325 million to $335 million.”

Net sales in the company's printed circuit boards segment for the second quarter were $240.4 million, up 11.7% year-over-year, and up 12.8% sequentially.

Operating income in the segment was $15.1 million, up 21.8% compared to the same period in 2011, and up 115.7% sequentially.

Net sales in the company’s assembly segment were $56.5 million, up 1.6% year-over-year, and up 15.3% sequentially.

Assembly operating income for the second quarter was $1.6 million, down 44.8% compared to the same period last year. The firm posted a loss of $800,000 in the first quarter of 2012 in the segment.

Viasystems provides multilayer printed circuit boards and electromechanical solutions.

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