CHESTERBROOK, PA — Vishay Precision Group, Inc. (NYSE: VPG) reported stronger second-quarter sales and $95.5 million in orders, but unfavorable currency movements and delayed shipments pushed the precision-measurement company to a $1.7 million net loss.
Net revenue rose 11.7% from a year earlier to $83.9 million for the fiscal quarter ended July 4. Bookings reached $95.5 million, producing a book-to-bill ratio of 1.14.
VPG attributed the order strength to record quarterly demand for precision resistors used in AI-related semiconductor, data center, aerospace and defense applications.
The company also received a vendor nomination from its first humanoid-robotics customer during the quarter and expects to support that customer’s planned production ramp in the second half of 2026.
Chief Executive Officer Ziv Shoshani indicated that current demand, expected humanoid-robotics bookings and backlog could push fiscal 2026 organic revenue growth above the 8% to 10% range previously included in VPG’s three-year model.
Profitability weakened despite the revenue increase. VPG recorded a net loss attributable to stockholders of $1.7 million, or 13 cents per diluted share, compared with net income of $300,000, or 2 cents per share, a year earlier.
Adjusted net earnings fell to $600,000, or 4 cents per diluted share, from $2.7 million, or 21 cents per share.
Foreign-exchange movements reduced second-quarter profit by $3.3 million compared with the prior-year period and by $900,000 sequentially, according to VPG.
The company also reported about $3 million in delayed shipments from its steel-related systems business after supply-chain problems emerged during implementation of a new enterprise resource planning system. Those orders remain in backlog and are expected to ship by year-end.
Gross margin narrowed to 38.6% from 40.7% a year earlier, while operating margin fell to negative 0.4% from positive 3.6%. Adjusted operating margin declined to 1.7% from 5.4%.
Adjusted EBITDA totaled $5.5 million, representing a margin of 6.5%.
VPG continues to target about $6 million in cost savings during 2026 as part of a three-year plan seeking $20 million in reductions.
Sensors was the fastest-growing segment, with revenue increasing 25.8% to $33.4 million. The gain reflected higher precision-resistor sales in test and measurement and aerospace, military and space markets, along with increased strain-gage sensor sales.
Weighing Solutions revenue rose 3.1% to $30.3 million, led by higher process-weighing sales in general industrial markets.
Measurement Systems revenue increased 5.2% from a year earlier to $20.2 million, though it declined 3.1% from the first quarter.
For the first six months of fiscal 2026, VPG reported a net loss of $2 million, or 15 cents per diluted share, compared with a loss of $700,000, or 5 cents per share, in the year-earlier period. Foreign-currency movements reduced operating results by $4.6 million over the six-month period.
For the third fiscal quarter, VPG expects revenue of $84 million to $89 million at constant second-quarter foreign-exchange rates. The guidance excludes tariff refunds to customers that the company expects will have no effect on profit.
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