This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Vishay Intertechnology CEO Discusses Q3 2011 Results - Earnings Call Transcript

Stocks in this article: VSH

We expect to pay back of less then eight years.

Cash from operations for year-to-date September came in at $288 million. Capital expenditures were 90 million and proceeds from the sales of property and equipment were $2 million using a free cash generation of $200 million for the nine months. Backlog at the end of quarter three was 655 million worth 3.1 month of sales.

Looking at the PNL, revenues for the quarter were $638 million, down by 10.2% versus prior quarter and down by 8.2% compared to prior year. Gross margin was 26.3%, operating margin was 11.8%, adjusted operating margin was 12.1%, EPS was $0.31, and our adjusted EPS was $0.32.

I’d like to walkthrough our unusual items. Our adjusted operating margin excludes a pretext charge of $1.9 million related to cost incurred upon the resignation of our former Chief Financial Officer, Dr. Lior Yahalomi. Our adjusted EPS excludes the after tax for this charge.

In our press release, we’ve included a table which reconciles GAAP EPS with adjusted EPS. Let me reconcile the adjusted operating income for quarter three 2011 compared to prior quarter. Based on $72 million lower sales or $69 million lower exchange rate impacts, the adjusted operating income decreased by 42 million from 119 million in Q2 2011 to 77 million from Q3 2011.

The main elements were average selling prices had a negative impact of $7 million representing 1.1% AFP decline. Volumes decreased with a negative impact of 27 million. Cost increased for a negative impact of 6 million, 4 million of which related to a higher metal prices and our inventory reduction had a negative impact of $3 million.

Reconciling the adjusted operating income for quarter 3 2011 compared to prior year, based on 57 million lower sales or $75 million excluding exchange rate impacts, the adjusted operating income decreased by $54 million from 131 million quarter 3 2010 to $77 million in quarter 3 2011.

Read the rest of this transcript for free on

3 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs