Viasystems Group Reports Q3 Net Loss of $9.5 Million

Photo Courtesy of Mercury News

Viasystems Group Inc. reported a net loss of $9.5 million in its third quarter ended Sept. 30, compared to a profit of $7.4 million in the prior-year quarter, mostly on restructuring and plant closing costs and costs related to a fire at one of its plants.

Expenses in the quarter included $5.9 million of restructuring costs in connection with a workforce reduction in the printed circuit board factories in China, $4 million of costs related to manufacturing inefficiencies and the insurance deductible portion of inventories damaged in a fire at its printed circuit board manufacturing facility in Guangzhou City, China, $2.5 million of restructuring costs in connection with the previously announced closures of two factories in China, and $800,000 of costs incurred in connection with mergers, acquisitions and related integration activities. Read more on St. Louis Business Journal.


Tags:, , , ,

Leave a Reply

Have you heard?

Missouri Business Alert is participating in CoMoGives2019!

Find out how we plan to use your gift to enhance training and programming for our students