Vishay Reports Results for Q2

MALVERN, Pa.-- 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 six fiscal months ended June 30, 2012.

Revenues for the fiscal quarter ended June 30, 2012 were $588.2 million, compared to $709.8 million for the fiscal quarter ended July 2, 2011. The net earnings attributable to Vishay stockholders for the fiscal quarter ended June 30, 2012 were $45.7 million, or $0.29 per diluted share, compared to $82.1 million, or $0.48 per diluted share for the fiscal quarter ended July 2, 2011.

Revenues for the six fiscal months ended June 30, 2012 were $1,126.7 million, compared to $1,405.0 million for the six fiscal months ended July 2, 2011. The net earnings attributable to Vishay stockholders for the six fiscal months ended June 30, 2012 were $79.5 million, or $0.49 per diluted share, compared to $157.4 million, or $0.91 per diluted share for the six fiscal months ended July 2, 2011.

Commenting on the results for the second quarter of 2012, Dr. Gerald Paul, President and Chief Executive Officer, stated, “In the second quarter, we experienced a substantial revenue increase versus the first quarter of 2012, though not quite to the degree anticipated. During the second quarter most end markets seem to be increasingly influenced by macro uncertainties. As announced, due to the volume increase our temporary fixed cost reductions implemented in the first quarter could not be sustained, which negatively impacted our incremental performance quarter over quarter. We continue to pursue our growth plan through investing in capacities for strategic product lines, and through increasing our resources for R&D, for technical marketing and for field application engineering; all of which is supplemented by opportunistic acquisitions of specialty businesses.”