This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Vishay Precision Group Reports Fourth Quarter And Full Year 2011 Results

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 results for the fourth quarter and full year ended December 31, 2011. VPG was spun-off from Vishay Intertechnology, Inc. (NYSE: VSH) as an independent publicly traded company in July 2010.

Net revenues for the fourth quarter of 2011 were $56.4 million, an increase of 3% versus $54.8 million for the comparable prior year period. Net earnings for the fourth quarter of 2011 were $1.2 million or $0.09 per diluted share, versus net earnings of $3.3 million, or $0.24 per diluted share for the comparable prior year period.

Net revenues for the year ended December 31, 2011 were $238.1 million, an increase of 15% versus $207.5 million for the comparable prior year period. Net earnings for the year ended December 31, 2011 were $10.8 million, or $0.78 per diluted share, versus $11.7 million, or $0.85 per diluted share, for the comparable prior year period (see Note below).

Comparing the results of the fourth fiscal quarter of 2011 to the third fiscal quarter of 2011, net revenues decreased by 6.0%, from $60.0 million. Net earnings decreased by $2.1 million, from $3.3 million in the third quarter of 2011. These comparisons provide perspective on the adjustment to guidance that the Company preannounced last month related to a reduction in volume and manufacturing capacity issues.

Commenting on the results for the quarter, Ziv Shoshani, Chief Executive Officer of VPG, said, "Market demand in the US and Asia remained fairly stable. However, European demand dropped significantly from the third quarter, which resulted in lower revenues for the fourth quarter, mainly for the Weighing Modules and Control Systems (WMCS) segment.

Our Foil Technology Products (FTP) segment revenues decreased from the prior quarter to $26.6 million in the fourth quarter, primarily coming from manufacturing capacity issues. The FTP gross margin was 40.5% for the fourth quarter. The WMCS segment revenues decreased from the prior quarter to $29.9 million in the fourth quarter, coming mainly from declines in scale manufacturing and process weighing market demand. The gross margin for the WMCS segment was 27.1% for the fourth quarter.”

1 of 4

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
SYM TRADE IT LAST %CHG

Markets

DOW 18,247.36 +114.66 0.63%
S&P 500 2,111.99 +7.49 0.36%
NASDAQ 4,994.3870 +30.86 0.62%

Partners Compare Online Brokers

Free Reports

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