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Vishay Precision Group Reports Third Quarter 2012 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 third quarter ended September 29, 2012.

Net revenues for the third quarter of 2012 were $55.4 million, representing a 7.7% decrease from the $60.0 million of net revenues for the comparable prior year period. Net earnings for the third quarter of 2012 were $1.9 million or $0.14 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 nine months ended September 29, 2012 were $166.6 million, representing an 8.3% decrease from the $181.7 million of net revenues for the comparable prior year period. Net earnings for the nine months ended September 29, 2012 were $6.5 million or $0.47 per diluted share, versus net earnings of $9.6 million, or $0.69 per diluted share for the comparable prior year period.

Commenting on the results, Ziv Shoshani, chief executive officer of VPG, said, "The overall revenues in the third quarter of 2012 were comparable to the revenue levels in the second quarter of 2012 due to projects generating approximately two million dollars in the Weighing and Control Systems segment. The demand for the third quarter of 2012 was lower compared to the second quarter of 2012, across all regions.

Comparing the results of the third quarter of 2012 to the second quarter of 2012, net revenues remained flat at $55.4 million. Net earnings for the third quarter of 2012 decreased by $1.1 million to $1.9 million compared to the second quarter of 2012.

Our Foil Technology Products (“FTP”) segment revenues decreased from $26.6 million in the second quarter of 2012 to $26.3 million in the third quarter of 2012. The gross margin for the FTP segment decreased to 38.9% for the third quarter of 2012 compared to 42.6% for the second quarter of 2012, which is mainly due to an unfavorable product mix and plant shutdown.

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