MALVERN, Pa., April 10, 2025 (GLOBE NEWSWIRE) -- Vishay Precision Group, Inc. (NYSE: VPG), a leader in precision measurement and sensing technologies, will release its financial results for the first quarter fiscal 2025 before the opening of the market on Tuesday, May 6, 2025. Ziv Shoshani, chief executive officer, and Bill Clancy, chief financial officer, will host a conference call that day (Tuesday, May 6, 2025) at 9:00 a.m. U.S. eastern time. To access the conference call, interested parties should call ...

MALVERN, Pa., March 10, 2025 (GLOBE NEWSWIRE) -- Vishay Precision Group, Inc. (NYSE: VPG), a leader in precision measurement and sensing technologies, announced that the company will present at the Sidoti March 2025 Small-Cap Virtual Investor Conference on Thursday, March 19, 2025 at 11:30 a.m. ET. A live and on-demand webcast of VPG’s presentation will be available to the public and can be accessed from the following link: https://sidoti.zoom.us/webinar/VPG, or on VPG’s website: ir.vpgsensors.com/events. F ...

Manufacturing and Operations - The company is shifting manufacturing to regions with advanced automation and lower labor costs to maintain cost competitiveness[62] - The company maintains a safety stock inventory of certain critical materials, as some specialized materials are sourced from a single vendor[301] - Significant price volatility in certain metals used in manufacturing could materially and adversely affect the company's results of operations[301] Employment and Workforce - As of December 31, 2024, the company employed approximately 2,200 employees, with 82% located outside the United States[83] Financial Position - The company had $32.0 million in borrowings outstanding under a revolving credit facility as of December 31, 2024[295] - At December 31, 2024, the company had $79.3 million in cash and cash equivalents, accruing interest at various variable rates[295] Interest Rate Impact - A 50 basis point change in interest rates is expected to impact annualized net earnings by $0.2 million for both 2024 and 2023[296] Customer Base - The company maintains a diversified customer base with no single customer accounting for more than 10% of net revenues[67] Research and Development - The company continues to invest in research and development to introduce innovative products and improve profitability, expecting to sustain or increase R&D expenditures[76] Environmental, Social, and Governance (ESG) - The company has a multi-year Environmental, Social and Governance (ESG) plan, with the first Sustainability Report issued in October 2024[81] Intellectual Property - The company has made significant investments in securing intellectual property protection, including numerous patents[77] Competitive Landscape - The competitive landscape is fragmented, with no competitors having the same product mix and proprietary technology as the company[70] Foreign Currency Risk - The company is exposed to foreign currency exchange rate risks, particularly with significant exposures to the British pound, Canadian dollar, Chinese renminbi, euro, Indian rupee, Israeli shekel, Japanese yen, Swedish krona, and Taiwanese dollar[297] - A hypothetical 10% adverse movement in foreign currency exchange rates would impact net earnings by approximately $4.1 million for the year ended December 31, 2024, and $3.7 million for the year ended December 31, 2023[299] - The company’s exposure to foreign currency risk is more pronounced in Israel and India due to a higher percentage of expenses denominated in local currencies compared to sales[298] - A change in the mix of currencies could materially affect the estimated impact of a hypothetical 10% movement in the value of the U.S. dollar[300] - The timing of cash receipts and disbursements could result in materially different actual results versus hypothetical scenarios regarding currency movements[300] Raw Material Costs - A 10% increase or decrease in the costs of raw materials subject to commodity price risk would decrease or increase net earnings by $1.0 million and $1.2 million for the years ended December 31, 2024 and 2023, respectively[303] - The company may face decreased margins if it cannot pass on increased raw material costs to customers during periods of rising prices[302] - The company may need to record losses for adverse purchase commitments for raw materials in periods of declining prices[302]

Financial Data and Key Metrics Changes - Revenue for fiscal 2024 was $306.5 million, reflecting a 4% sequential decline in Q4 due to macroeconomic and cyclical headwinds [7] - Adjusted gross margin for Q4 was 38.3%, down from 40% in Q3, impacted by unfavorable product mix and one-time material adjustments [28] - Adjusted net earnings for Q4 were $400,000 or $0.03 per diluted share, compared to $2.5 million or $0.19 per diluted share in Q3 [32] - Adjusted EBITDA was $5.1 million or 7% of revenues, down from $8.1 million or 10.7% in Q3 [33] Business Segment Data and Key Metrics Changes - Sensors segment revenue declined 8.7% sequentially in Q4, but bookings grew 7.0%, resulting in a book-to-bill of 1.04% [12] - Weighing solutions segment sales increased 2.2% from Q3, driven by industrial weighing and precision agriculture [13] - Measurement systems revenue declined 5.3% sequentially to $21.2 million, with orders down 8.9% due to customer push-outs [15][16] Market Data and Key Metrics Changes - Consolidated orders grew 5.5% sequentially, marking a book-to-bill of 1.0%, the first positive book-to-bill in eight quarters [8] - The company noted a recovery in the semiconductor back-end equipment market, indicating potential growth in the sensor segment [41] Company Strategy and Development Direction - The company aims to secure design wins in new applications across robotics, consumer, data center, medical, and aerospace and defense, driven by industrial automation and electrification trends [18] - Business development initiatives contributed approximately $18 million in revenue in 2024, with a target of $30 million for 2025 and an aggregate potential of $100 million over the next three to four years [19][70] - The company is focusing on efficiency initiatives, expecting at least $5 million in additional annual cost reductions in 2025 [25] Management Comments on Operating Environment and Future Outlook - Management expressed optimism for a recovery in the sensor segment, expecting positive trends in net bookings in Q1 and Q2, with acceleration in the second half of the year [41] - The company anticipates a favorable impact from tariffs, expecting to gain market share in the U.S. due to limited competition from non-Chinese manufacturers [45][46] Other Important Information - The company ended Q4 with $79.3 million in cash and cash equivalents and total long-term debt of $31.4 million, indicating a strong balance sheet [35] - Capital expenditures for 2025 are budgeted at $10 to $12 million, with a focus on efficiency improvements and manufacturing consolidation [34] Q&A Session Summary Question: Can you talk about the test and measurement and avionics markets in the Sensors segment? - Management noted that the sensor business showed a book-to-bill over one in Q4, with larger semiannual orders for AMS business and signs of recovery in semiconductor back-end equipment [40][41] Question: Did you see any meaningful revenue impact during the last steel tariffs? - Management indicated that tariffs from China had a limited impact due to sourcing steel from Indian suppliers, with an expected minimal effect of around $200,000 in 2025 [44][45] Question: Can you elaborate on the expected timing of the $5 million in cost savings? - Management explained that the cost savings would come from moving operations to lower-cost countries and improving manufacturing efficiencies, with a focus on yield and efficiency improvements [49][50] Question: Was NOCRA accretive to operating income? - Management stated that NOCRA had a net zero effect in Q4 but expects significant revenue contribution in 2025, projecting $6 million in sales [52][53] Question: Are you seeing any customer trends suggesting capital spending is picking up? - Management observed a continuation of reduced interest rates and increased demand from European customers, contributing to confidence in order intake and demand [58][59] Question: How sustainable are the additional cost savings? - Management indicated that the $1 million savings from shared services would be permanent, while the additional $4 million would come from operational consolidations and efficiency initiatives [60][62] Question: What is the timeline for the $100 million new product opportunity? - Management clarified that the $100 million opportunity is expected to materialize over three to four years, with a design cycle of up to 30 months [70]

This presentation includes discussion of adjusted free cash flow, adjusted gross profit and adjusted operating income and their corresponding margins, as well as adjusted net earnings, EBITDA, adjusted EBITDA, and adjusted net diluted earnings per share. These are financial measures that were not prepared in accordance with generally accepted accounting principles in the United States (non-GAAP measures). Management believes that these non-GAAP measures are useful to investors because each presents what man ...

Financial Performance - In Q4 2024, VPG reported net earnings of $0.8 million, or $0.06 per diluted share, down from $4.2 million, or $0.31 per diluted share in Q4 2023[5]. - For the fiscal year 2024, revenues were $306.5 million, a decrease of 13.7% year-over-year, with a gross profit margin of 41.0% compared to 42.3% in 2023[6]. - Adjusted net earnings for Q4 2024 were $0.4 million, or $0.03 per diluted share, compared to $8.2 million, or $0.61 per diluted share in the same period last year[7]. - Net revenues for the fiscal quarter ended December 31, 2024, decreased to $72,653 thousand from $89,528 thousand in the same quarter of 2023, representing a decline of 18.8%[25]. - Gross profit margin for the fiscal quarter ended December 31, 2024, was 38.2%, down from 43.0% in the prior year quarter[25]. - Operating income for the fiscal year ended December 31, 2024, was $16,864 thousand, a decrease of 59.8% compared to $41,954 thousand in 2023[26]. - Net earnings attributable to VPG stockholders for the fiscal year ended December 31, 2024, were $9,911 thousand, down from $25,707 thousand in 2023, reflecting a decline of 61.4%[26]. - Basic earnings per share attributable to VPG stockholders for the fiscal year ended December 31, 2024, decreased to $0.74 from $1.89 in the previous year, a drop of 60.7%[26]. - The company reported a decrease in trade accounts payable from $11,698 in 2023 to $9,890 in 2024, a decline of about 15.5%[28]. - The diluted earnings per share for the year ended December 31, 2024, was $0.95, a decrease of 56.2% from $2.17 in 2023[30]. Segment Performance - The Sensors segment revenues in Q4 2024 were $25.8 million, down 24.8% from $34.3 million in Q4 2023, primarily due to lower sales in the Test & Measurement market[9]. - The Weighing Solutions segment revenues in Q4 2024 were $25.7 million, a decrease of 15.4% from $30.4 million in the prior year, but increased 2.2% sequentially[11]. - The Measurement Systems segment revenues in Q4 2024 were $21.2 million, down 14.8% from $24.8 million in the prior year, attributed to lower sales of DSI and DTS products[13]. Cost and Expenses - The company faced approximately $700 thousand in one-time costs in Q4 2024, mainly related to R&D projects and operational fixed costs[5]. - Selling, general, and administrative expenses for the fiscal year ended December 31, 2024, increased slightly to $107,505 thousand from $106,828 thousand in 2023[26]. - Restructuring costs for the fiscal year ended December 31, 2024, were $1,062 thousand, compared to $1,560 thousand in 2023, indicating a reduction of 32.0%[26]. - Interest expense for the fiscal year ended December 31, 2024, was $2,512 thousand, down from $3,974 thousand in 2023, a decrease of 36.8%[26]. Cash Flow and Capital Expenditures - Total cash provided by operating activities for the year ended December 31, 2024, was $19,815, a decline of 56.7% from $45,893 in 2023[29]. - Capital expenditures for the year ended December 31, 2024, were $9,163, a reduction of 39.5% compared to $15,154 in 2023[29]. - The company reported a net cash used in financing activities of $9,399 for the year ended December 31, 2024, compared to $35,935 in 2023[29]. Balance Sheet Highlights - Total current assets decreased from $236,949 in 2023 to $224,243 in 2024, a decline of approximately 5.4%[27]. - Total current liabilities decreased from $61,624 in 2023 to $53,039 in 2024, a reduction of about 13.9%[28]. - Total liabilities decreased from $141,641 in 2023 to $129,075 in 2024, representing a decrease of approximately 8.9%[28]. - Retained earnings increased from $182,066 in 2023 to $191,977 in 2024, an increase of about 5.0%[28]. - Total stockholders' equity decreased from $329,842 in 2023 to $321,967 in 2024, a decline of approximately 2.4%[28]. - Long-term debt slightly decreased from $31,856 in 2023 to $31,441 in 2024, a reduction of about 1.3%[28]. - The accumulated other comprehensive loss increased from $38,869 in 2023 to $48,897 in 2024, an increase of approximately 25.8%[28]. Future Outlook - VPG expects Q1 2025 net revenues to be in the range of $70 million to $76 million at constant Q4 2024 exchange rates[15]. - The integration of Nokra, acquired on September 30, 2024, is on track, supporting VPG's strategy for acquiring high-quality businesses[5].

Core Insights - Dynamic Systems Inc. (DSI) has launched a new Ultra High Temperature Ceramic and Composite (UHTC) system for testing non-conductive materials at temperatures exceeding 2000°C, marking a significant advancement in materials testing technology [1][3]. Company Overview - DSI is a subsidiary of Vishay Precision Group Inc. (VPG) and is recognized as a global leader in materials testing technology, particularly known for its Gleeble series [6][7]. Collaboration and Impact - DSI has partnered with The University of Alabama for beta testing the UHTC system, which is expected to enhance ceramic development across various applications, including energy and aerospace [2][3][5]. Key Features of the UHTC System - **Extreme Temperature Capabilities**: Tests ceramics at temperatures greater than 2000°C, supporting industries like aerospace, defense, and energy [8]. - **Fast Heating and Cooling Rates**: Reduces time between tests, outperforming traditional furnace-based testing methods [8]. - **High Throughput Testing**: Capable of conducting over 1 test per hour and more than 8 tests per day, optimizing research productivity [8]. - **User-Friendly Interface**: Simplifies operation, data analysis, and reporting [8]. - **ASTM Compliance**: Adheres to ASTM standards, ensuring results meet industry benchmarks for accuracy and reliability [8].

Core Viewpoint - Vishay Precision Group, Inc. will announce its financial results for Q4 and the full year of fiscal 2024 on February 12, 2025, before market opening [1] Financial Results Announcement - The financial results will be released before the market opens on February 12, 2025 [1] - A conference call will be hosted by CEO Ziv Shoshani and CFO Bill Clancy at 9:00 a.m. U.S. eastern time on the same day [2] - Interested parties can access the conference call via phone or through a live webcast on the VPG investor relations website [2] Webcast Replay - A replay of the conference call will be available approximately one hour after its completion [3] - The replay can be accessed via phone or on the VPG investor relations website for a limited time [3] Company Overview - Vishay Precision Group, Inc. specializes in precision measurement and sensing technologies [4] - The company's products aim to optimize and enhance customer product performance across various markets [4] - VPG is committed to making the world safer, smarter, and more productive [4]

Core Insights - Vishay Precision Group, Inc. (VPG) will present at the 27th Annual Needham Growth Investor Conference on January 15, 2025, at 8:00 a.m. ET [1] - A live and on-demand webcast of the presentation will be available to the public [2] Company Overview - VPG is a leader in precision measurement and sensing technologies, providing sensors, weighing solutions, and measurement systems [2] - The company's products aim to optimize and enhance customer performance across various markets, contributing to a safer, smarter, and more productive world [2]

Group 1 - Vishay Precision Group, Inc. has appointed Nava Swersky Sofer as an independent member of its Board of Directors, effective immediately [1] - Saul Reibstein, Chairman of the Board, expressed that Nava's experience in technology and innovation will bring valuable perspective to VPG [2] - Nava Sofer is a recognized strategic consultant and venture capitalist with extensive experience in innovation and technology commercialization [2] Group 2 - Ms. Sofer has lectured on innovation and entrepreneurship globally and has consulted for various governmental organizations and financial institutions since 2009 [2] - She served as president and CEO of Yissum Hebrew University of Jerusalem Technology Transfer from 2005 to 2009, managing the university's intellectual property [2] - Her previous roles include being a partner at venture capital firms in California and Israel from 1995 to 2005 and serving as vice president at Novartis from 1991 to 1996 [2] Group 3 - Vishay Precision Group is a leader in precision measurement and sensing technologies, enhancing product performance across various markets [3] - The company's solutions aim to make the world safer, smarter, and more productive [3]