This Day On The Street
Continue to site
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

Vishay Intertechnology CEO Discusses Q3 2011 Results - Earnings Call Transcript

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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,084.49 +33.74 0.20%
S&P 500 2,013.43 +15.91 0.80%
NASDAQ 4,830.47 +19.6820 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs