NEW YORK (
) -- Semiconductor company
strong fourth-quarter earnings report and revenue forecast is propelling the stock forward.
Vishay has climbed 10.9% to $8.95 in Tuesday afternoon trading.
Vishay says that it anticipates revenue of between $630 to $670 million and improved results for the first quarter of 2010, while the Wall Street consensus estimate is $594.57 million. The company says it is in the phase of a steep upturn, and confident that 2010 will become a good year for the company. Still, Vishay also announced that it is prepared to promptly re-establish all savings measures of the last year, in the case of an economic slow-down.
The company adds that preparations for the intended spin-off of Vishay's measurements and foil resistors businesses into the Vishay Precision Group is proceeding smoothly.
Vishay said net income attributable to Vishay stockholders for the fiscal quarter ended December 31 was $28.5 million, or 15 cents per share, compared to a net loss attributable to Vishay stockholders of $652.3 million, or a loss of $3.50 per share for the fiscal quarter ended December 31. Adjusted net earnings per share was 16 cents for the fourth fiscal quarter of 2009.
Analysts surveyed by Thomson Reuters expected earnings of 12 cents a share.
has added 3.2% at $9.40, while
has increased 2.2% to $17.60.
has risen 1.5% to $7.70.
-- Reported by Andrea Tse in New York
Follow TheStreet.com on
and become a fan on
Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.