Vishay Intertechnology Q1 Profit Declines, Adj. Earnings Beat Estimates

(RTTNews) - Vishay Intertechnology, Inc. (VSH) Tuesday said its first-quarter net earnings attributable to stockholders declined to $25.81 million or $0.17 per share from $28.93 million or $0.19 per share in the prior year.

During the quarter, the firm recorded restructuring and severance costs totaling $6.40 million. Excluding items, adjusted earnings per share were $0.20, while the company posted $0.18 per share last year.

On average, six analysts polled by Thomson Reuters expected the company to earn $0.18 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenues for the quarter grew to $602.38 million from $554.25 million a year earlier. Analysts estimated revenues of $607.31 million for the quarter.

Looking ahead to the second quarter, the company expects revenues to be between $620 million and $660 million at margins in line with this level of volume and similar levels of fixed costs. Street analysts expect the company to report revenues of $638.70 million for the quarter.