MALVERN, PA — Vishay Intertechnology, Inc. (NYSE: VSH) projected stronger second-quarter sales after reporting rising order activity and an expanding backlog, signaling improving demand conditions across parts of the semiconductor and passive components markets.
The company reported first-quarter revenue of $839.2 million for the period ended April 4, with gross margin of 21.0% and diluted earnings per share of $0.05.
Vishay posted a consolidated book-to-bill ratio of 1.34 during the quarter, including 1.47 for semiconductors and 1.23 for passive components. A ratio above 1.0 indicates incoming orders exceeded shipments during the period.
Backlog at quarter end stood at 5.7 months.
Chief Executive Officer Joel Smejkal said recent capacity investments in higher-margin product categories are contributing to stronger operating performance as customer demand improves.
“Our top priority going forward is to increase backlog turns to ensure we maintain competitive lead times as consumption accelerates,” Smejkal stated. “Execution of this priority will enable Vishay to participate fully in the market upcycle and grow revenue faster than our end markets.”
For the second quarter, the company projected revenue between $875 million and $905 million, implying sequential growth from the first quarter.
Vishay also forecast second-quarter gross margin of approximately 22.0%, plus or minus 50 basis points.
The company manufactures discrete semiconductors and passive electronic components used across automotive, industrial, consumer, telecommunications, military, aerospace, and medical markets.
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