Vishay Intertechnology Reports First Quarter 2025 Results

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]