Tuesday, Vishay Intertechnology Inc. (VSH), a maker of semiconductors and passive electronic components, reported a loss for the third quarter despite higher revenues, hurt by a non-cash goodwill impairment charge and other one-time items. However, on an adjusted basis, the company posted a profit. Vishay also provided sales outlook for the fourth quarter, which is below analysts' estimates.
For the third quarter, Vishay reported a net loss of $312.87 million, or $1.68 per share, compared with a profit of $35.18 million, or $0.19 per share, last year. The company had posted a net loss of $741.69 million, or $3.98 per share, for the second quarter.
The company's loss from continuing operations was $312.87 million, or $1.68 per share, in comparison with a profit from continuing operations of $37.099 million, or $0.20 per share, in the prior-year quarter.
The latest third-quarter results included the impact of an after tax non-cash goodwill impairment charge and certain other items totaling $1.86 per share. On adjusted basis, the company posted earnings from continuing operations of $0.18 per share. Analysts expected the company to report earnings of $0.16 per share for the quarter.
Quarterly net revenues increased to $739.09 million from $729.62 million last year. Analysts projected revenues of $739.15 million for the quarter.
On October 16, the Malvern, Pennsylvania-based company had revised its third-quarter revenue forecast to a range of $736 million - $742 million from its prior range of $750 million - $770 million. The company's net revenues for the second quarter were $774.36 million.
Commenting on the third-quarter results, Gerald Paul, president and chief executive officer of Vishay Intertechnology said, "We experienced a difficult quarter with sales and orders below expectations. The low order rate of October indicates a further acceleration of the economic slowdown."
For the nine-month period, the company reported a net loss of $1.08 billion, or $5.79 per share, compared with a profit of $125.89 million, or $0.66 per share, a year ago. Net revenues were $2.25 billion, up from $2.10 billion in the same period last year.
Vishay's peer, Fairchild Semiconductor International Inc. (FCS) on October 16 reported a surge in its third-quarter net income, benefiting from sales across a wide range of products. Third-quarter sales were up 0.4%.
Looking ahead, Vishay expects fourth-quarter sales between $640 million and $670 million at flat gross margins. Analysts foresee sales of $707.75 million for the fourth quarter. The company noted that sales level in the current quarter is being negatively impacted by the weakening of the euro compared to the US dollar.
VSH is trading at $3.57, up $0.18, on a volume of 514,475 shares.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.