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Vishay Intertechnology Inc. Reports Operating Results (10-Q)

November 09, 2010 | About:
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10qk

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Vishay Intertechnology Inc. (VSH) filed Quarterly Report for the period ended 2010-10-02.

Vishay Intertechnology Inc. has a market cap of $2.63 billion; its shares were traded at around $14.08 with a P/E ratio of 11 and P/S ratio of 1.3. VSH is in the portfolios of John Buckingham of Al Frank Asset Management, Inc., James Barrow of Barrow, Hanley, Mewhinney & Strauss, Chuck Royce of Royce& Associates, Paul Tudor Jones of The Tudor Group, Chuck Royce of Royce& Associates, Louis Moore Bacon of Moore Capital Management, LP, Charles Brandes of Brandes Investment, Bruce Kovner of Caxton Associates, Charles Brandes of Brandes Investment, Steven Cohen of SAC Capital Advisors.

Highlight of Business Operations:

Revenues for the fiscal quarter ended October 2, 2010 were $694.4 million, compared to $525.3 million for the fiscal quarter ended September 26, 2009. The net earnings attributable to Vishay stockholders for the fiscal quarter ended October 2, 2010 were $89.8 million, or $0.47 per diluted share, compared to $2.3 million, or $0.01 per diluted share for the fiscal quarter ended September 26, 2009.

Revenues for the nine fiscal months ended October 2, 2010 were $2,036.5 million, compared to $1,435.1 million for the nine fiscal months ended September 26, 2009. The net earnings attributable to Vishay stockholders for the nine fiscal months ended October 2, 2010 were $211.9 million, or $1.10 per diluted share, compared to a net loss attributable to Vishay stockholders of $85.7 million, or $0.46 per share for the nine fiscal months ended September 26, 2009.

(2) End-of-period backlog includes backlog attributable to VPG of $30.1 million, $32.7 million, $36.2 million, and $38.4 million for the third fiscal quarter of 2009, fourth fiscal quarter of 2009, first fiscal quarter of 2010, and second fiscal quarter of 2010, respectively.

We experienced the continuation of an excellent business environment in the third fiscal quarter of 2010. Shortages of supply of electronic components have created a favorable pricing environment and led to an increase in average selling prices versus the second fiscal quarter of 2010 and third fiscal quarter of 2009. The favorable pricing environment, continued historically high levels of overall market demand for electronic components, and faster than expected capacity ramp-up at our manufacturing facilities allowed us to slightly exceed our revenue expectations for the fiscal quarter and to increase net revenues sequentially over the previous quarters, excluding VPG. Net revenues exclusive of VPG for the second fiscal quarter of 2010 and third fiscal quarter of 2009 were $648.7 million and $485.2 million, respectively.

Based on our backlog and a lower number of working days, we anticipate revenues of between $650 million and $690 million at performance levels close to those of the third fiscal quarter for the fourth fiscal quarter of 2010.

Read the The complete Report

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