MALVERN, PA — Vishay Intertechnology, Inc. (NYSE: VSH) ths week announced its results for the fiscal quarter and six fiscal months ended July 2, 2022.
Revenues for the fiscal quarter ended July 2, 2022 were $863.5 million, compared to $853.8 million for the fiscal quarter ended April 2, 2022, and $819.1 million for the fiscal quarter ended July 3, 2021. Net earnings attributable to Vishay stockholders for the fiscal quarter ended July 2, 2022 were $112.4 million, or $0.78 per diluted share, compared to $103.6 million, or $0.71 per diluted share for the fiscal quarter ended April 2, 2022, and $93.2 million, or $0.64 per diluted share for the fiscal quarter ended July 3, 2021.
As summarized on the attached reconciliation schedule, certain periods presented include items affecting comparability. Adjusted earnings per diluted share, which exclude these unusual items, were $0.82, $0.71, and $0.61 for the fiscal quarters ended July 2, 2022, April 2, 2022, and July 3, 2021, respectively.
Commenting on results for the second quarter 2022, Dr. Gerald Paul, President and Chief Executive Officer stated, “Despite a stronger US dollar and prolonged COVID related shutdowns in Shanghai, revenues came in at the high end of our guidance. Margins were positively impacted by a temporary inventory build, which we anticipate normalizing in the second half of the year. Turns of the inventory of our products at distribution were at a good level of 3.6.”
Commenting on the outlook Dr. Paul stated, “We guide for the third quarter 2022 for revenues in the range of $860 to $900 million at a gross margin of 29.0% plus/minus 50 basis points, assuming an exchange rate of the US dollar to the Euro of 0.98.”
The quarterly presentation is accessible directly from the Investor Relations section of the Vishay website at http://ir.vishay.com.
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