Vishay Intertechnology Q3 Profit Down - Quick Facts

(RTTNews) - Vishay Intertechnology Inc. (VSH) reported that its net earnings attributable to stockholders for the third-quarter ended September 27, 2014 declined to $27.0 million or $0.17 per share, from $32.7 million, or $0.22 per share last year.

Net earnings attributable to stockholders for the fiscal quarter ended September 27, 2014 include restructuring and severance costs of $3.5 million and U.S. pension settlement charges of $15.6 million.

Net earnings attributable to stockholders for the fiscal quarter ended September 28, 2013 include a one-time tax benefit of $2.9 million to adjust deferred taxes subsequent to the enacting of a new tax law in Israel.

Adjusted net earnings per share were $0.26 up from $0.20 last year.

Revenues for the quarter were $638.2 million, compared to $602.9 million last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.28 per share and revenues of $650.64 million for the quarter. Analysts' estimates typically exclude special items.

For the fourth quarter 2014 the company anticipates a temporary slow-down of shipments to distribution and guide for revenues of $600 million to $640 million at gross margins in line with this volume. Analysts expect the company to report revenues of $637.66 million for the fourth-quarter.