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Jun 27, 2020
Vishay Precision Q2 2020 Earnings Report
Reported second quarter results with revenues declining due to COVID-19 impacts, but achieved solid margins and earnings per share due to cost controls and manufacturing efficiencies.
Key Takeaways
Vishay Precision Group reported a decrease in revenues for the second quarter of 2020, primarily due to the COVID-19 pandemic. Despite the revenue decline, the company maintained solid margins and earnings per share through cost control measures and manufacturing efficiencies. The Foil Technology Products segment performed well, while the Force Sensors segment was negatively impacted by a government-mandated shutdown in India.
Revenues of $59.1 million declined 16.5% from a year ago.
Gross profit margin was 39.1% as compared to 40.4% reported a year ago.
Operating margin was 6.7% as compared to 11.4% reported a year ago.
Diluted earnings per share of $0.13 as compared to $0.41 reported a year ago.
Forward Guidance
The company expects net revenues to grow sequentially and be in the range of $59 million to $65 million for the third fiscal quarter of 2020, at constant second fiscal quarter 2020 exchange rates.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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