Vishay: 2Q Earnings Snapshot
MALVERN, Pa. (AP) _ Vishay Intertechnology Inc. (VSH) on Tuesday reported second-quarter net income of $44.5 million.
On a per-share basis, the Malvern, Pennsylvania-based company said it had profit of 31 cents. Earnings, adjusted for non-recurring costs, were 36 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.
The chipmaker posted revenue of $685.2 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $685.8 million.
For the current quarter ending in October, Vishay said it expects revenue in the range of $600 million to $640 million.
Vishay shares have dropped almost 3% since the beginning of the year. The stock has declined 31% in the last 12 months.