logo
Share SHARE
FONT-SIZE Plus   Neg

Vishay Intertechnology Profit Down, But Tops View; Shares Rise

Semiconductor component maker Vishay Intertechnology Inc. (VSH), Tuesday reported a decline in profit for the fourth quarter, as revenues dropped and margins contracted. Nevertheless, the company shares are currently up five percent on the NYSE, with both earnings and revenues coming in ahead of Street estimates.

Vishay's revenues for the quarter declined to $530.6 million from $551.4 million prior year. Analysts polled by Thomson Reuters expected revenues of $520.8 million for the quarter.

Gross margin, or gross profit as a percentage of sales, declined to 20.5 percent from 22.8 percent last year. Operating margin declined to 4.1 percent from 6.1 percent last year.

Commenting on the results, Chief Executive Gerald Paul said, "As expected the fourth quarter 2012 was the weakest quarter of the year. But the order intake in the fourth quarter 2012 was higher than in the third quarter 2012 or in the fourth quarter 2011."

Malvern, Pennsylvania-based Vishay's fourth-quarter profit dropped to $21.0 million or $0.14 per share from $31.0 million or $0.19 per share last year.

Earnings, excluding one-time items, declined to $0.11 per share from $0.15 per share last year. However, earnings came in above analysts' consensus estimate of $0.08 per share for the quarter. Analysts' estimates typically exclude one-time items.

Looking forward to the first quarter, the company expects revenue of $520 million to $560 million. Analysts currently expect first-quarter revenues of $531.00 million for the quarter.

VSH is currently trading at $11.60, up $0.59 or 5.36%, on the NYSE.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
A California man has filed a lawsuit against McDonald's alleging that the fast food giant is defrauding customers by cramming its mozzarella sticks with filler instead of real cheese. Chris Howe is seeking at least $5 million in damages on behalf of consumers in 42 states and the District of Columbia. The... Jeep, the 4x4 vehicles, which has developed a strong bond with its masters, is aggressively on an expansion mode in its 75th anniversary year. Its fans have always been in love with the famous tag "Go Anywhere, Do Anything." Meat products maker Tyson Foods Inc. (TSN) reported a profit for the first-quarter that increased 49% from last year. It raised its profit outlook for fiscal year 2016 ,but it cut its annual sales guidance.
comments powered by Disqus
RELATED NEWS
Trade VSH now with 
Follow RTT