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Vishay Precision Group(VPG) - 2021 Q2 - Earnings Call Transcript
2021-08-10 18:21
Vishay Precision Group, Inc. (NYSE:VPG) Q2 2021 Earnings Conference Call August 10, 2021 10:00 AM ET Company Participants Steven Cantor – Senior Director-Investor Relations Ziv Shoshani – President and Chief Executive Officer Bill Clancy – Chief Financial Officer Conference Call Participants John Franzreb – Sidoti and Company Sarkis Sherbetchyan – B. Riley Securities Dick Ryan – Colliers Bill Dezellem – Tieton Capital Operator Good day, and welcome to the VPG Second Quarter 2021 Earnings Conference Call. Al ...
Vishay Precision Group(VPG) - 2021 Q1 - Earnings Call Transcript
2021-05-11 20:59
Financial Data and Key Metrics Changes - The company achieved sales of $70.6 million in Q1 2021, slightly above the high end of guidance, with a year-over-year growth of 4.3% and a sequential decline of 6.4% from Q4 2020 [6][20] - Adjusted EPS for Q1 2021 was $0.31, compared to $0.24 in Q1 2020, reflecting an increase in adjusted net earnings to $4.2 million [19][23] - Gross margin improved to 40.5% in Q1 2021 from 38.1% in Q4 2020, while adjusted operating margin was 8.7%, down from 10.7% in the previous quarter [21][24] Business Line Data and Key Metrics Changes - **Foil Technology Products (FTP)**: Q1 sales were $32.7 million, down 10.3% sequentially but up 7.3% year-over-year. The adjusted gross margin for FTP was 40.4% [10][11] - **Force Sensors**: Sales increased to $16.9 million, up 4.2% sequentially and 15.2% year-over-year, with an adjusted gross margin of 36% [12][13] - **Weighing and Control Systems (WCS)**: Sales were $20.9 million, down 7.8% sequentially and 7.0% year-over-year, with an adjusted gross margin of 44.3% [14][15] Market Data and Key Metrics Changes - In the test and measurement market, sales grew 8.3% year-over-year and 41.1% sequentially, driven by semiconductor test equipment demand [8] - Orders in the steel market grew 59.1% sequentially, while avionic, military, and space orders increased by 13.1% [9] - The overall book-to-bill ratio for the company was 1.21, with a backlog of $100.7 million [9][26] Company Strategy and Development Direction - The company is focusing on long-term strategic initiatives, including completing the transition of the new manufacturing facility for advanced sensors and expanding its Japanese precision resistor manufacturing facility [16][17] - Capital spending is expected to be between $22 million to $25 million for 2021, with ongoing evaluations for attractive acquisition opportunities [17][18] Management's Comments on Operating Environment and Future Outlook - Management noted that all facilities are operational, and they are better prepared for COVID-19 impacts compared to the previous year [16][32] - The company anticipates continued growth in 2021, particularly in the EU regulation-driven aftermarket opportunities [14][25] - Management expressed confidence in the rebound of demand across various end markets, with expectations for higher revenues as demand increases [43] Other Important Information - The company ended Q1 2021 with $96.2 million in cash and cash equivalents and total long-term debt of $40.6 million, indicating a strong balance sheet [25] - Adjusted free cash flow was negative $100,000 for Q1 2021, compared to $3 million in Q1 2020, primarily due to capital expenditures [24] Q&A Session Summary Question: Supply chain constraints and gross margins outlook - Management indicated that logistics costs have increased due to limited capacity but do not expect further increases. They anticipate flat gross profit margins for Q2 2021 [30][31] Question: Impact of COVID-19 in India facility - The India facility remains operational under a government waiver, and management does not expect any revenue impact from the current lockdown [32][33] Question: Advanced sensors customer base and market segments - Management confirmed strong demand for advanced sensors, with an annualized sales level approaching $40 million, but could not disclose specific customer details due to confidentiality agreements [38][39] Question: SG&A expenses outlook - Management indicated that the Q1 SG&A level is a good baseline for future quarters, with some adjustments expected as the year progresses [44] Question: M&A landscape and acquisition opportunities - Management noted that while the M&A environment is competitive with high valuations, they remain disciplined in their approach and are actively seeking opportunities [49][51]
Vishay Precision Group(VPG) - 2020 Q4 - Annual Report
2021-03-11 19:40
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission file number 1-34679 Vishay Precision Group, Inc. (Exact name of registrant as specified in its charter) Delaware 27-0986328 (State or other juri ...
Vishay Precision Group(VPG) - 2020 Q4 - Earnings Call Presentation
2021-02-18 19:15
| --- | --- | --- | |-------|----------------------------------------------------------------------------------------------------------------------|-------| | | | | | | | | | | | | | | | | | | Vishay Precision Group PERFORMANCE THROUGH PRECISION VPG Fourth Quarter Fiscal 2020 Earnings — February 17, 2021 | | | | PERFORMANCE THROUGH PRECISION | | Safe Harbor Statement From time to time, information provided by us, including but not limited to statements in this report, or other statements made by or on our b ...
Vishay Precision Group(VPG) - 2019 Q4 - Annual Report
2020-03-11 16:42
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission file number 1-34679 Vishay Precision Group, Inc. (Exact name of registrant as specified in its charter) Delaware 27-0986328 (State or other juri ...
Vishay Precision Group(VPG) - 2018 Q4 - Annual Report
2019-03-14 20:55
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission file number 1-34679 Vishay Precision Group, Inc. (Exact name of registrant as specified in its charter) Delaware 27-0986328 (State or other juri ...