Vishay Precision Group(US:VPG)2026-02-11 11:20Financial Performance - Fourth quarter sales increased by 10.9% year-over-year to $80.6 million, with a sequential growth of 1.1%[4] - The company's net loss for the fourth quarter was $1.9 million, or $0.14 per diluted share, compared to net earnings of $0.8 million, or $0.06 per diluted share, in the same quarter last year[5] - Adjusted net earnings for the fourth quarter were $1.0 million, or $0.07 per diluted share, compared to $0.4 million, or $0.03 per diluted share, in the prior year[7] - For fiscal year 2025, net earnings attributable to VPG stockholders were $5.3 million, or $0.40 per diluted share, down from $9.9 million, or $0.74 per diluted share, in 2024[6] - Net earnings attributable to VPG stockholders for 2025 were $5,293, a decline of 46.4% compared to $9,911 in 2024[30] - Basic earnings per share attributable to VPG stockholders decreased to $0.40 in 2025 from $0.74 in 2024, a drop of 46%[30] - The diluted earnings per share for the fiscal year 2025 was $0.40, a decline of 45.9% from $0.74 in 2024[34] Revenue Segments - Orders for the fourth quarter reached $81.3 million, achieving a book-to-bill ratio of 1.01, marking the fifth consecutive quarter of 1.00 or better[4] - The Sensors segment recorded revenues of $30.4 million, an 18.0% increase from the previous year, although it saw a sequential decline of 3.9%[10] - The Weighing Solutions segment revenues increased by 7.8% year-over-year to $27.7 million, with a book-to-bill ratio of 1.02[12] - The Measurement Systems segment revenues rose by 6.0% year-over-year to $22.4 million, with a sequential increase of 9.1%[14] - In Q4 2025, VPG's net revenues from the Sensors segment were $30,402,000, representing a 17.5% increase from $25,755,000 in Q4 2024[35] - The Measurement Systems segment reported net revenues of $22,431,000 in Q4 2025, an increase of 6.0% from $21,160,000 in Q4 2024[35] Profitability and Margins - Gross profit margin decreased to 38.9% in 2025 from 41.0% in 2024, indicating a decline in profitability[30] - Operating income for the year ended December 31, 2025, was $13,847, down from $16,864 in 2024, representing a decrease of 17.9%[30] - The gross profit margin for the Sensors segment in Q4 2025 was 28.5%, down from 32.0% in Q4 2024[35] - The adjusted gross profit for the Measurement Systems segment in Q4 2025 was $11,954,000, with a margin of 53.3%, compared to 51.2% in Q4 2024[35] - The adjusted EBITDA for the fiscal year 2025 was $28,187,000, down 21.1% from $35,668,000 in 2024, resulting in an adjusted EBITDA margin of 9.2%[36] Cash Flow and Assets - Total current assets increased to $246,962 in 2025 from $236,949 in 2024, an increase of 4.3%[31] - Total liabilities decreased to $119,662 in 2025 from $129,075 in 2024, a reduction of 7.3%[32] - Cash and cash equivalents at the end of 2025 were $87,366, up from $79,272 at the end of 2024, an increase of 10.4%[33] - The company reported a net cash provided by operating activities of $14,382 for 2025, down from $19,815 in 2024, a decrease of 27.5%[33] - Capital expenditures for 2025 were $8,031, compared to $9,163 in 2024, indicating a reduction of 12.3%[33] Future Outlook - The company expects first quarter 2026 net revenues to be in the range of $74 million to $80 million[16] - Key objectives for 2026 include mid- to high-single digit year-over-year revenue growth and 20% year-over-year growth in bookings from business development initiatives[18] Restructuring and Foreign Exchange - VPG incurred restructuring costs of $1,490,000 for the fiscal year 2025, compared to $1,062,000 in 2024[36] - The company reported a foreign exchange loss of $4,214,000 for the fiscal year 2025, contrasting with a gain of $1,879,000 in 2024[36]