Vishay Precision Group(US:VPG)2025-05-06 10:36Financial Performance - The company's net loss attributable to VPG stockholders was $0.9 million, or $0.07 per diluted share, compared to net earnings of $5.9 million, or $0.44 per diluted share, in the first fiscal quarter of 2024[3]. - Adjusted net earnings for the first fiscal quarter of 2025 were $0.5 million, or $0.04 per adjusted diluted net earnings per share, down from $5.7 million, or $0.42 per adjusted diluted net earnings per share, in the same period last year[4]. - The company reported a net loss of $955 thousand for the three months ended March 29, 2025, compared to net earnings of $5,832 thousand for the same period in 2024[24]. - For the fiscal quarter ended March 29, 2025, VPG reported a net loss attributable to stockholders of $942,000 compared to a profit of $5,891,000 in the same quarter of the previous year[27]. - EBITDA for the quarter was $3,311,000, resulting in an EBITDA margin of 4.6%, down from 15.8% in the prior year[27]. - Adjusted EBITDA was $5,141,000, with an adjusted EBITDA margin of 7.2%, compared to $12,320,000 and 15.3% respectively in the same quarter last year[27]. - The total adjusted EBITDA for the quarter was $5,141,000, reflecting a decrease from $12,320,000 in the same quarter of the previous year[27]. Revenue and Orders - Total orders for the first fiscal quarter of 2025 were $74.4 million, representing a 2.7% sequential growth and a book-to-bill ratio of 1.04[2]. - Revenue from the Sensors segment was $27.1 million, a decrease of 8.0% year-over-year, but a sequential increase of 5.1%[5]. - The Weighing Solutions segment revenue was $26.4 million, down 8.3% year-over-year, but up 2.7% sequentially[8]. - The Measurement Systems segment revenue decreased 19.0% year-over-year to $18.2 million, and was 13.8% lower sequentially[10]. - The company achieved a book-to-bill ratio above 1.00 for the second consecutive quarter, indicating positive order trends despite market challenges[2]. - The company expects net revenues for the second fiscal quarter of 2025 to be in the range of $70 million to $76 million[12]. Cash Flow and Assets - Cash from operating activities was $5.3 million, with adjusted free cash flow of $3.7 million for the first fiscal quarter of 2025[14]. - Net cash provided by operating activities for the three months ended March 29, 2025, was $5,249 thousand, compared to $6,405 thousand for the same period in 2024, a decrease of 18.06%[24]. - Cash and cash equivalents at the end of the period increased to $83,892 thousand from $79,272 thousand at the beginning of the period, marking an increase of 6.54%[24]. - Total current assets increased to $241,427 thousand as of March 29, 2025, up from $236,949 thousand on December 31, 2024, representing a growth of 1.99%[22]. Profitability and Margins - Gross profit margin for the company was 37.7% in the first fiscal quarter of 2025, down from 43.4% in the first fiscal quarter of 2024[21]. - Gross profit for the three months ended March 29, 2025, was $27,045 thousand, with a gross margin of 37.7%, down from $35,094 thousand and 43.4% in the same period of 2024[25]. - Adjusted gross profit for the Sensors segment was $8,333 thousand for the three months ended March 29, 2025, with a margin of 30.8%, compared to $10,732 thousand and 36.5% in the same period of 2024[26]. Liabilities and Equity - Total liabilities decreased slightly to $128,826 thousand as of March 29, 2025, from $129,075 thousand on December 31, 2024[23]. - Total equity increased to $325,015 thousand as of March 29, 2025, from $321,860 thousand on December 31, 2024, reflecting a growth of 0.36%[23]. Other Expenses - The company incurred $800 thousand in inventory write-offs for obsolescence during the three months ended March 29, 2025[24]. - The company incurred restructuring costs of $395,000 in the latest quarter, compared to $782,000 in the same quarter of the previous year[27]. - Interest expense for the quarter was $550,000, slightly down from $628,000 in the previous year[27]. - Income tax benefit for the quarter was $(332,000), compared to an expense of $2,318,000 in the same quarter last year[27]. - Depreciation expenses were $3,056,000, consistent with $3,016,000 in the same quarter of the previous year[27]. - The company reported amortization expenses of $979,000, up from $927,000 in the same quarter last year[27]. - Foreign currency exchange gains amounted to $972,000, contrasting with a loss of $1,589,000 in the same quarter last year[27].