Viasystems Group, Inc, a leading provider of complex multi-layer PCBs and electromechanical solutions, today announced that estimated consolidated sales for the quarter ended June 30, 2010 were $239.4 million, representing approximately $53 million, or 28%, sequential growth over $186.6 million sales reported for the immediately preceding quarter ended in March 2010, and representing nearly double the $120.6 million sales reported in the same quarter last year. 

According to prior public filings made by Viasystems and Merix Corporation, pro forma for the merger of the companies that occurred in mid February 2010, combined sales during the first quarter of 2010 were $228.6 million, and combined sales during the second quarter of 2009 were $179.4 million. The estimated sales of $239.4 million for the quarter ended June 30, 2010 resulted in pro forma sequential organic growth of approximately 4.7% and pro forma year-over-year organic growth of approximately 33.4%. Viasystems highlighted that this was also the fourth consecutive quarter of improvement in orders booked, as orders exceeded sales by approximately 6% during the quarter ended June 2010. 

"Our book-to-bill ratio was favorable for each of our five global end markets and for each of our ten factories in the quarter," said David M. Sindelar, Chief Executive Officer, "indicating that the strength of demand for our products and services has remained broad based. The quarter ended June 30 was the first full quarter following our acquisition of Merix Corporation in February of this year, and it is important that we maintained the positive momentum which both companies had begun during the second half of 2009, prior to the merger."

"The integration and streamlining of the combined companies continues to progress," added Sindelar, "and we generated cash during the quarter sufficient not only to support our business growth and to continue funding integration activities, but also to reduce our net debt by approximately $10 million during the quarter."

Investor Conference Call

Viasystems plans to announce full second quarter results in early August, accompanied by a Webcast and investor conference call, for which logistics will be communicated in advance of the call.