Vishay Precision Group, Inc. (NYSE: VPG) ("VPG or the Company"), a leading producer of precision sensors and systems based on its resistive foil technology, today announced expected fourth quarter revenues for the three months ended December 31, 2011.
The Company expects to report revenues of approximately $56.5 million, which is slightly below its previous guidance for the period. The decrease in sales volume is expected to result in a gross margin reduction. The lower revenue for the quarter is primarily the result of missed shipments due to operational capacity issues at end-of-year, as well as lower European sales compared to the previous revenue guidance.
Ziv Shoshani, CEO of VPG, commented, “We normally expect our quarterly sales to vary within our revenue guidance range. However, our Foil Technology Products segment was not able to ship approximately $2 million of customer orders due to operational capacity issues that occurred. In addition, our Weighing Modules and Control Systems segment revenue is expected to be approximately $2.5 million below our guidance. This is primarily from a decline in European sales during the latter part of the fourth quarter. Although our fourth quarter revenues are slightly below our guidance, the trailing three month book to bill ratio was 0.95, including European customers.”
About Vishay Precision Group
Vishay Precision Group produces precision sensors based on its resistive foil technology, and sensor-based systems. VPG provides vertically integrated products and solutions for multiple growing markets in the areas of current, stress, force, weight, and pressure measurements. As a spin-off from Vishay Intertechnology, the Company has a decades-long track record of innovation in foil precision resistors, current sensors, and strain gages, which serves as a foundation for its more recent expansion into strain gage instrumentation, load cells and transducers, weighing modules, and complete systems for process control and on-board weighing. Vishay Precision Group may be found on the internet at
Forward Looking Statements
From time to time, information provided by us, including but not limited to statements in this report, or other statements made by or on our behalf, may contain "forward-looking" information within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks, uncertainties, and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from those anticipated.
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