Vishay Intertechnology (VSH) came out with a quarterly loss of $0.03 per share in line with the Zacks Consensus Estimate. This compares to earnings of $0.22 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this chipmaker would post earnings of $0.11 per share when it actually produced break-even earnings, delivering a surprise of -100%. There are no easy answers to this key question, but one reliable measure that can help investors address this is ...

Financial Performance - 1Q 2025 revenues reached $715.2 million[25], slightly above 4Q 2024's $714.7 million[26] but lower than 1Q 2024's $746.3 million[26] - Gross margin was 19.0%[25], including a negative impact of approximately 200 bps related to Newport[25] - The company reported a loss per share (EPS) of $(0.03)[25] and an adjusted EPS of $(0.03)[25] - Adjusted EBITDA margin was 7.6%[27] Book-to-Bill Ratio - Overall book-to-bill ratio was 1.08[25] - Semiconductors had a book-to-bill ratio of 1.12[25] - Passive components had a book-to-bill ratio of 1.04[25] Revenue Mix by End Market - Industrial sector accounted for 34% of revenue in 1Q25[17], showing a 3% QoQ increase and a 1% YoY decrease[16] - Automotive sector represented 33% of revenue in 1Q25[17], with a 2% QoQ increase and an 11% YoY increase[16] - Other sectors contributed 14% of revenue in 1Q25[17], showing a 4% QoQ increase and an 8% YoY increase[16] - Aero/Defense sector accounted for 11% of revenue in 1Q25[17], with a -5% QoQ decrease and an 8% YoY increase[16] - Medical sector accounted for 5% of revenue in 1Q25[17], with a -1% QoQ decrease and a +6% YoY increase[16] Revenue Mix by Region - Europe accounted for 36% of revenue in 1Q25[23], showing an 8% QoQ increase and a -6% YoY decrease[22] - Asia accounted for 40% of revenue in 1Q25[23], with a -3% QoQ decrease and a 0% YoY change[22] - Americas accounted for 24% of revenue in 1Q25[23], with a -6% QoQ decrease and a -8% YoY decrease[22] Guidance for 2Q 2025 - Revenue is expected to be $760 million, with a +/- $20 million range[48], representing an approximate 1% to 2% increase versus 1Q[46] - Gross margin is projected at 19.0% +/- 50 bps[48], with a negative impact of 175-200 bps from Newport[48]

Report Overview [Introduction & Performance Highlights](index=1&type=section&id=Introduction%20%26%20Highlights) Vishay Intertechnology reported Q1 FY2025 results with revenue of **$715.2 million**, a gross margin of **19.0%**, and a loss per share of **$0.03**, alongside a book-to-bill ratio of **1.08** and a **4.7-month** backlog Q1 2025 Performance Highlights (in millions, except per share data and ratios) | Metric | Q1 2025 | Notes on Change | | :--- | :--- | :--- | | Revenue | $715.2 | | | Gross Margin | 19.0% | Includes approximately 200 basis points negative impact from Newport acquisition | | Loss Per Share | ($0.03) | | | Book-to-Bill Ratio | 1.08 | Semiconductors at 1.12, Passive Components at 1.04 | | Quarter-End Backlog | 4.7 months | | [CEO Commentary & Market Outlook](index=1&type=section&id=CEO%20Commentary%20%26%20Market%20Outlook) CEO Joel Smejkal noted market signals indicate channel inventory oversupply has largely normalized, with the company executing strategic levers to drive revenue growth and profitability - Market signals indicate channel inventory oversupply has normalized[2](index=2&type=chunk) - The company effectively executed strategic levers in Q1 to drive revenue growth and improve profitability[2](index=2&type=chunk) - Investments in capacity over the past two years position the company favorably for market improvement[2](index=2&type=chunk) - Q2 revenue is projected to increase by **6%** sequentially[2](index=2&type=chunk) [Q2 2025 Outlook](index=1&type=section&id=Q2%202025%20Outlook) Management projects Q2 2025 revenue between **$760 million +/- $20 million**, with a gross margin of **19.0% +/- 50 basis points**, accounting for Newport acquisition impacts and tariffs Q2 2025 Outlook (in millions, except basis points) | Metric | Q2 2025 Outlook | | :--- | :--- | | Revenue Range | $760 +/- $20 | | Gross Margin Range | 19.0% +/- 50 basis points | | Newport Acquisition Negative Impact | Approximately 175 to 200 basis points (included in gross margin) | | Tariff Impact | Included in guidance | Company Information [About Vishay](index=2&type=section&id=About%20Vishay) Vishay Intertechnology, a Fortune 1000 company, is a leading global manufacturer of discrete semiconductors and passive electronic components for diverse markets - Vishay is one of the world's largest manufacturers of discrete semiconductors and passive electronic components[7](index=7&type=chunk) - Products are widely used in automotive, industrial, computing, consumer, telecommunications, military, aerospace, and medical markets[7](index=7&type=chunk) - Vishay Intertechnology, Inc. is a NYSE-listed company (NYSE: VSH) and a Fortune 1000 company[7](index=7&type=chunk) [Non-GAAP Financial Measures Disclosure](index=2&type=section&id=Non-GAAP%20Financial%20Measures%20Disclosure) This press release includes several non-GAAP financial measures, such as adjusted net earnings and free cash, which supplement GAAP measures by providing insights into intrinsic operating performance - Non-GAAP financial measures include adjusted net earnings, adjusted EPS, adjusted gross margin, adjusted operating margin, free cash, EBITDA, adjusted EBITDA, and adjusted EBITDA margin[8](index=8&type=chunk) - These non-GAAP measures supplement GAAP performance or liquidity measures and should not be considered substitutes[8](index=8&type=chunk) - Management believes these measures are meaningful to investors as they provide insight into the company's intrinsic operating performance[8](index=8&type=chunk) [Forward-Looking Statements](index=2&type=section&id=Forward-Looking%20Statements) Forward-looking statements concern future performance, including revenue and profit forecasts, subject to various risks, uncertainties, and assumptions that may cause actual results to differ materially - Forward-looking statements involve the company's future performance, including projected revenue and profit, capital investments, capacity expansion, shareholder returns, tariff impacts, and overall economic performance[9](index=9&type=chunk) - These statements are based on current expectations and are subject to various risks, uncertainties, and assumptions, many of which are beyond the company's control[9](index=9&type=chunk) - The company undertakes no obligation to publicly update or revise any forward-looking statements[9](index=9&type=chunk) [Conference Call & Contact Information](index=1&type=section&id=Conference%20Call%20%26%20Contact%20Information) Vishay will host a conference call on May 7, 2025, to discuss Q1 financial results, with pre-registration and replay available on the investor relations website - The conference call is scheduled for May 7, 2025, at **9:00 AM ET**[4](index=4&type=chunk) - Pre-registration via a designated link is required to obtain dial-in numbers and a PIN[4](index=4&type=chunk) - A live audio webcast and the press release are available on Vishay's investor relations website, with a **30-day** replay[5](index=5&type=chunk) - Contact: Peter Henrici, Executive Vice President, Corporate Development, Phone: **+1-610-644-1300**[11](index=11&type=chunk)[12](index=12&type=chunk) Financial Performance [Summary of Operations (Income Statement)](index=4&type=section&id=Summary%20of%20Operations%20(Income%20Statement)) In Q1 2025, Vishay reported net revenue of **$715.2 million**, gross profit of **$135.5 million**, and a **19.0%** gross margin, resulting in a net loss of **$4.1 million** and **$0.03** loss per share Consolidated Condensed Statements of Operations (in thousands, except per share data) | Metric | Quarter Ended March 29, 2025 | Quarter Ended December 31, 2024 | Quarter Ended March 30, 2024 | | :--- | :--- | :--- | :--- | | Net Revenue | $715,236 | $714,716 | $746,279 | | Cost of Products Sold | $579,682 | $572,584 | $575,872 | | Gross Profit | $135,554 | $142,132 | $170,407 | | Gross Margin | 19.0% | 19.9% | 22.8% | | Selling, General and Administrative Expenses | $134,739 | $132,330 | $127,736 | | Operating Income (Loss) | $815 | ($56,685) | $42,671 | | Operating Margin | 0.1% | -7.9% | 5.7% | | Net Earnings (Loss) | ($4,092) | ($66,085) | $31,443 | | Net Earnings (Loss) Attributable to Vishay Stockholders | ($4,092) | ($66,308) | $30,924 | | Basic Earnings (Loss) Per Share | ($0.03) | ($0.49) | $0.22 | | Diluted Earnings (Loss) Per Share | ($0.03) | ($0.49) | $0.22 | | Cash Dividends Per Share | $0.10 | $0.10 | $0.10 | [Consolidated Condensed Balance Sheets](index=5&type=section&id=Consolidated%20Condensed%20Balance%20Sheets) As of March 29, 2025, Vishay's total assets increased to **$4.200 billion**, with total liabilities rising to **$2.168 billion** and total equity slightly increasing to **$2.032 billion** Consolidated Condensed Balance Sheets (in thousands) | Metric | March 29, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and Cash Equivalents | $609,402 | $590,286 | | Total Inventories | $712,438 | $689,381 | | Total Current Assets | $1,975,562 | $1,915,507 | | Property, Plant and Equipment, Net | $1,574,569 | $1,545,738 | | Goodwill | $179,388 | $179,005 | | Total Assets | $4,200,242 | $4,110,696 | | **Liabilities and Equity** | | | | Total Current Liabilities | $705,401 | $708,348 | | Long-Term Debt (Less Current Portion) | $988,235 | $905,019 | | Total Liabilities | $2,168,110 | $2,081,734 | | Total Equity | $2,032,132 | $2,028,962 | | Total Liabilities and Equity | $4,200,242 | $4,110,696 | [Consolidated Condensed Statements of Cash Flows](index=7&type=section&id=Consolidated%20Condensed%20Statements%20of%20Cash%20Flows) Net cash provided by operating activities in Q1 2025 was **$16.1 million**, a significant decrease from **$80.2 million** in the prior year, with **$56.0 million** used in investing activities Consolidated Condensed Statements of Cash Flows (in thousands) | Metric | Three Months Ended March 29, 2025 | Three Months Ended March 30, 2024 | | :--- | :--- | :--- | | Net Cash Provided by Operating Activities | $16,098 | $80,211 | | Net Cash Used in Investing Activities | ($56,018) | ($223,789) | | Net Cash Provided by (Used in) Financing Activities | $52,007 | ($30,343) | | Effect of Exchange Rate Changes | $7,029 | ($2,257) | | Net Increase (Decrease) in Cash and Cash Equivalents | $19,116 | ($176,178) | | Cash and Cash Equivalents at End of Period | $609,402 | $796,541 | Non-GAAP Reconciliations [Reconciliation of Adjusted Earnings Per Share](index=8&type=section&id=Reconciliation%20of%20Adjusted%20Earnings%20Per%20Share) In Q1 2025, GAAP net loss attributable to Vishay shareholders was **$4.092 million**, with adjusted net loss matching this figure due to no goodwill impairment, resulting in an adjusted diluted loss per share of **$0.03** Reconciliation of Adjusted Earnings Per Share (in thousands, except per share data) | Metric | Quarter Ended March 29, 2025 | Quarter Ended December 31, 2024 | Quarter Ended March 30, 2024 | | :--- | :--- | :--- | :--- | | GAAP Net Earnings (Loss) Attributable to Vishay Stockholders | ($4,092) | ($66,308) | $30,924 | | Adjustments Impacting Operating Income: | | | | | Goodwill Impairment | - | $66,487 | - | | Adjusted Net Earnings (Loss) | ($4,092) | $179 | $30,924 | | Adjusted Diluted Weighted Average Shares Outstanding | 135,799 | 136,883 | 138,476 | | Adjusted Diluted Earnings (Loss) Per Share | ($0.03) | $0.00 | $0.22 | [Reconciliation of Free Cash](index=9&type=section&id=Reconciliation%20of%20Free%20Cash) Free cash was negative **$45.192 million** in Q1 2025, primarily due to reduced cash from operating activities and capital expenditures, contrasting with positive **$27.878 million** in the prior year Reconciliation of Free Cash (in thousands) | Metric | Quarter Ended March 29, 2025 | Quarter Ended December 31, 2024 | Quarter Ended March 30, 2024 | | :--- | :--- | :--- | :--- | | Net Cash Provided by Operating Activities | $16,098 | $67,656 | $80,211 | | Proceeds from Sale of Property, Plant and Equipment | $279 | $1,618 | $751 | | Less: Capital Expenditures | ($61,569) | ($144,904) | ($53,084) | | Free Cash | ($45,192) | ($75,630) | $27,878 | [Reconciliation of EBITDA and Adjusted EBITDA](index=10&type=section&id=Reconciliation%20of%20EBITDA%20and%20Adjusted%20EBITDA) EBITDA for Q1 2025 was **$54.458 million**, with adjusted EBITDA matching this figure due to no goodwill impairment, resulting in an adjusted EBITDA margin of **7.6%** Reconciliation of EBITDA and Adjusted EBITDA (in thousands) | Metric | Quarter Ended March 29, 2025 | Quarter Ended December 31, 2024 | Quarter Ended March 30, 2024 | | :--- | :--- | :--- | :--- | | GAAP Net Earnings (Loss) Attributable to Vishay Stockholders | ($4,092) | ($66,308) | $30,924 | | Net Earnings (Loss) | ($4,092) | ($66,085) | $31,443 | | Interest Expense | $8,790 | $7,731 | $6,496 | | Interest Income | ($3,877) | ($4,533) | ($9,053) | | Income Taxes | ($136) | $7,232 | $12,819 | | Depreciation and Amortization | $53,773 | $55,373 | $49,527 | | EBITDA | $54,458 | ($282) | $91,232 | | Adjustments: | | | | | Goodwill Impairment | - | $66,487 | - | | Adjusted EBITDA | $54,458 | $66,205 | $91,232 | | Adjusted EBITDA Margin | 7.6% | 9.3% | 12.2% |

Core Insights - Vishay Intertechnology, Inc. reported its fiscal first quarter results for the period ending March 29, 2025, highlighting a revenue of $715.2 million and a gross margin of 19.0% [1][9] - The company anticipates a sequential revenue increase of 6% for the second quarter of 2025, with expected revenues in the range of $760 million +/- $20 million [3][4] Financial Performance - The first quarter of 2025 saw a net loss attributable to Vishay stockholders of $4.1 million, translating to a loss per share of $0.03 [9][14] - The gross profit for the first quarter was $135.6 million, with a gross margin decrease from 19.9% in the previous quarter [9][14] - The book-to-bill ratio was reported at 1.08, with semiconductors at 1.12 and passive components at 1.04 [9] Operational Highlights - The company noted that channel inventory has normalized, which is expected to support revenue growth and profitability [3] - Vishay's backlog at the end of the quarter was approximately 4.7 months [9] Outlook - Management's guidance for the second quarter includes a gross profit margin range of 19.0% +/- 50 basis points, accounting for the negative impact of tariffs [4] - The anticipated effects of evolving tariff policies and demand uncertainties are being closely monitored [3] Cash Flow and Investments - Net cash provided by operating activities for the first quarter was $16.1 million, a decrease from $80.2 million in the same period last year [18] - Free cash flow for the first quarter was reported at $(45.2) million, compared to $27.9 million in the prior year [20] Balance Sheet - As of March 29, 2025, total assets were $4.2 billion, an increase from $4.1 billion at the end of the previous year [15][17] - Current liabilities totaled $705.4 million, with long-term debt less current portion at $988.2 million [17]

Core Insights - Vishay Intertechnology, Inc. will showcase its power management solutions at PCIM Europe 2025, focusing on trends such as e-mobility, energy storage, sustainability, and smart power system integration [1][4] Product Highlights - Vishay's components, including silicon carbide (SiC) MOSFETs, diodes, and power modules, constitute 70% or more of the bill of materials (BOMs) in reference designs [2] - Featured products include high impulse current rated capacitors, low inductance capacitors, and various inductors and resistors designed for high reliability and performance [2][5] - The company will present a range of semiconductor solutions, including surface-mount diodes and power modules in various packages [3] Event Details - Simon Goodwin, senior manager of global applications at Vishay, will present on "Rugged SiC and Low TCR Shunts Enabling Solid-State Power Distribution Units" during the event [4] - PCIM Europe 2025 will take place from May 6-8 in Nuremberg, Germany [4] Company Overview - Vishay is a leading manufacturer of discrete semiconductors and passive electronic components, serving various markets including automotive, industrial, and telecommunications [6]

Core Insights - Vishay Intertechnology has introduced two new industrial-grade solid-state relays, the VO1401AEFTR and VOR1003M4T, designed for high reliability and efficiency in various applications [1][2]. Product Features - The relays feature high continuous load currents of 550 mA for VO1401AEFTR and 5 A for VOR1003M4T, with load voltages of 60 V and 30 V respectively, and an isolation voltage of 3750 VRMS [1][2]. - Both devices exhibit low leakage current of less than 1 µA, contributing to higher efficiency in applications [1][3]. Application and Benefits - These relays are ideal for replacing electromechanical relays, providing robust, vibration-proof switching suitable for industrial automation, security systems, medical instrumentation, and broadcasting equipment [2][3]. - The compact SOP-4 package saves board space, while the fast switching times of 1.3 ms and 0.15 ms for VO1401AEFTR, and 0.5 ms and 0.1 ms for VOR1003M4T enhance performance in various applications [3]. Availability - Samples and production quantities of the new relays are currently available, with a lead time of four weeks [4]. Company Overview - Vishay Intertechnology is a major manufacturer of discrete semiconductors and passive electronic components, serving diverse markets including automotive, industrial, computing, consumer, telecommunications, military, aerospace, and medical [5].

Core Viewpoint - Vishay Intertechnology, Inc. has launched a new AEC-Q200 qualified thick film power resistor, the MCB ISOA200, designed for high power dissipation and efficient thermal management in various applications [1][2][3]. Product Features - The ISOA200 is housed in a compact SOT-227B package and can dissipate up to 200 W at an 80 °C bottom case temperature [1]. - It features a resistance range from 10 Ω to 1 MΩ, with tolerances of ± 5 % and ± 10 %, and a temperature coefficient of resistance (TCR) of ± 100 ppm/K and ± 150 ppm/K [3]. - The device supports a maximum operating voltage of 1500 V and operates within a temperature range of -55 °C to +150 °C, with a dielectric strength of 4000 Vrms [3]. Application and Benefits - The resistor is suitable for automotive, industrial, avionics, military, and space applications, serving functions such as precharge, discharge, active discharge, or snubber resistor [2]. - It can handle high energy pulses up to 140 J for 0.1 seconds and is tested for multi-pulse applications, making it ideal for environments with high and repetitive pulse surges [2]. - The integration of an optional NTC thermistor simplifies design and saves board space, while the pre-applied Phase Change Thermal Interface Material (PC-TIM) enhances installation efficiency [3]. Company Overview - Vishay Intertechnology is a leading manufacturer of discrete semiconductors and passive electronic components, serving various markets including automotive, industrial, computing, consumer, telecommunications, military, aerospace, and medical [4]. - The company is listed on the NYSE under the ticker VSH and is recognized as a Fortune 1000 Company [4].

Core Viewpoint - Enlight Renewable Energy has signed a 12-year electricity supply agreement with Vishay Israel Ltd. valued at approximately $105 million, which includes an option to increase consumption volumes over the contract's duration [1][4]. Company Overview - Enlight Renewable Energy is a leading renewable energy platform in Israel, owning the largest portfolio of renewable energy assets in the country [3][6]. - The company operates across major renewable segments including solar, wind, and energy storage, and has a global presence in the United States, Israel, and 10 European countries [6]. Agreement Details - The agreement with Vishay will enable significant reductions in electricity costs for Vishay's manufacturing facilities in Israel [4]. - The environmental impact of this agreement is substantial, equating to the planting of approximately 740,000 new trees annually or the removal of about 17,000 fuel-powered vehicles from the road each year [4]. Industry Context - The agreement is part of a broader trend where large consumers in Israel are entering direct supply agreements with power producers following the deregulation of the electricity market [3][5]. - Other notable entities in Israel that have signed similar clean electricity supply agreements with Enlight include the Weizmann Institute of Science, Amdocs, and Applied Materials [2]. Strategic Importance - The partnership aligns with Vishay's commitment to sustainability and energy efficiency, providing clean, reliable energy at lower rates, which enhances operational efficiency and reduces environmental impact [5]. - This agreement exemplifies how renewable energy can increase competition and lower power costs in Israel's energy market [5].

Core Insights - Vishay Intertechnology, Inc. has launched 27 new standard and Trench MOS Barrier Schottky (TMBS®) surface-mount rectifiers in the DFN33A package, which is the first of its kind in the industry, offering current ratings up to 6 A for standard devices and up to 9 A for TMBS devices [1][2] Product Specifications - The DFN33A package measures 3.3 mm by 3.3 mm with a height of 0.88 mm, making it 44% smaller than conventional SMB packages and 20% smaller than eSMP® series SMPA packages [2] - The rectifiers are designed for high efficiency in applications such as low voltage, high frequency inverters, DC/DC converters, and protection circuits, with a maximum operating temperature of +175 °C [3] Compliance and Features - The devices are RoHS-compliant, halogen-free, and have a moisture sensitivity level of 1, with a maximum peak temperature of 260 °C [4] - The wettable flanks of the DFN33A package facilitate automatic optical inspection (AOI), eliminating the need for X-ray inspection [3] Market Applications - These rectifiers are suitable for commercial, industrial, telecom, and automotive applications, enhancing design efficiency with low forward voltage drop and low leakage current [1][3] Availability - Samples and production quantities of the new rectifiers are currently available, with lead times of eight weeks [7]

MALVERN, Pa., April 15, 2025 (GLOBE NEWSWIRE) -- Vishay Intertechnology, Inc., (NYSE: VSH), will release its results for the fiscal first quarter ended March 29, 2025, before the New York Stock Exchange opens on Wednesday, May 7, 2025. A conference call to discuss Vishay’s first quarter financial results is scheduled for Wednesday, May 7, 2025 at 9:00 a.m. ET. To participate in the live conference call, please pre-register at https://register.vevent.com/register/BI5b9245def09d4423aad8a7d7a5526751. Upon regi ...