Vishay Reports Results For Third Quarter 2016

  • Revenues for Q3 2016 of $592 million
  • Operating Margin Q3 of 9.7%
  • Adjusted Operating Margin Q3 of 10.1%
  • EPS Q3 of $0.24
  • Adjusted EPS Q3 of $0.25
  • Cash from operations for trailing twelve months Q3 of $304 million and capital expenditures of $142 million
  • Repurchased 0.8 million shares in Q3
  • Extension of MOSFETs restructuring program: additional cash cost of $4 to $8 million, additional annual savings of $7 to $10 million, finalized by end of 2017
  • Guidance for Q4 2016 for revenues of $560 - $600 million and gross margins of 24% - 25%

MALVERN, Pa., Nov. 07, 2016 (GLOBE NEWSWIRE) -- Vishay Intertechnology, Inc. (NYSE:VSH), one of the world's largest manufacturers of discrete semiconductors and passive components, today announced its results for the fiscal quarter and nine fiscal months ended October 1, 2016.

Revenues for the fiscal quarter ended October 1, 2016 were $592.0 million, compared to $560.7 million for the fiscal quarter ended October 3, 2015. The net earnings attributable to Vishay stockholders for the fiscal quarter ended October 1, 2016 were $36.4 million, or $0.24 per diluted share, compared to net loss attributable to Vishay stockholders of $(27.7) million, or $(0.19) per share for the fiscal quarter ended October 3, 2015.

Net earnings attributable to Vishay stockholders for the fiscal quarter ended October 1, 2016 include, restructuring and severance costs of $1.2 million, impairment of indefinite-lived intangible assets of $1.6 million, and $1.4 million for the quarterly remeasurement of the deferred tax liability recorded for the cash repatriation program. Net loss attributable to Vishay stockholders for the fiscal quarter ended October 3, 2015 includes restructuring and severance costs of $2.3 million, impairment of goodwill and long-lived assets charges totaling $63.0 million, and a loss related to the Tianjin explosion of $5.4 million. Adjusted earnings per diluted share, which exclude these items, were $0.25 and $0.17 for the fiscal quarters ended October 1, 2016 and October 3, 2015, respectively.

If you liked this article you might like

Tomorrow's Ex-Dividends To Watch: PFL, BTO, VSH

3 Stocks Going Ex-Dividend Tomorrow: FAM, KRO, VSH

Monday's Ex-Dividends To Watch: WSR, VSH, AVY

Analysts' Actions -- Apple, Disney, Hershey and More

Vishay Intertechnology (VSH) Upgraded From Hold to Buy