Feb. 07--Viasystems Group swung to a fourth quarter profit on increased sales of printed circuit boards.
The Clayton-based circuit board manufacturer reported a $4.8 million profit, or 24 cents a share, up from a $14.6 million loss, or 73 cents a share, a year earlier.
Net sales rose 10.9 percent to $303.4 million. Sales in the fourth quarter of 2012 were negatively impacted by a fire in one of its factories in China in September 2012.
"During the past year, we have worked through a number of challenges, including factory relocations, recovery from a fire in one of our largest factories, and new project launches, not to mention the economic pressures from reduced government spending," CEO David Sindelar said in a statement. "As I look ahead to 2014, our sales team will seek to convert opportunities into new project wins as a supplement to analysts' modest projections for global demand improvement in each of our end markets."
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