Viasystems Group Projects Q1 Net Sales Of $290 Mln - $300 Mln - Quick Facts

(RTTNews) - Viasystems Group Inc. (VIAS), a provider of complex multi-layer printed circuit boards and electro-mechanical solutions, said it expects first-quarter operating income to be in the range of $4 million - $6 million, on net sales of $290 million - $300 million, representing a year-on-year increase range of 6% - 10%. On average, 2 analysts polled by Thomson Reuters expected revenue of $296.05 million for the first quarter. Analysts' estimates typically exclude one-time items.

Adjusting operating income to exclude nearly $25 million of estimated non-cash charges for depreciation and amortization and for stock compensation expense for the first quarter, estimated adjusted EBITDA is likely to range between $29 million and $31 million.

Further, Viasystems Group Inc.'s unit, Viasystems, Inc., commenced a consent solicitation from holders of its outstanding 7.875% Senior Secured Notes due 2019 for an amendment to the indenture for the Notes, that would permit Viasystems, Inc. to complete the proposed financing. Viasystems, Inc. plans to issue not more than $50.0 million in principal amount of new indebtedness in the form of senior secured notes having terms substantially identical to the terms of the notes.