Semiconductor and electronics component maker
posted a drop in second-quarter earnings as restructuring charges took a toll on the company's results.
Including items, the company earned $2.9 million, or 2 cents a share, compared with $15.6 million, or 10 cents a share, in the prior-year quarter.
The 2003 quarter's results included after-tax restructuring expenses of $12.3 million, or 5 cents a share, compared with restructuring costs of $1.9 million, or a penny a share, in last year's quarter, the company said.
Analysts were expecting Vishay to earn 7 cents a share.
Sales spiked 17.5% to $538 million. Bookings rose to $517.4 million, up 10.3%, Vishay said. The book-to-bill ratio for the quarter was 0.96 and backlog at June 30 was $420 million, the company said.
Shares of Vishay were losing 13 cents, or 0.9%, to $14.55 in recent
New York Stock Exchange