MALVERN, Pa.--(BUSINESS WIRE)--
Vishay Precision Group, Inc. (NYSE: VPG) ("VPG or the Company"), a
leading producer of precision sensors and systems based on its resistive
foil technology, today announced expected fourth quarter revenues for
the three months ended December 31, 2011.
The Company expects to report revenues of approximately $56.5 million,
which is slightly below its previous guidance for the period. The
decrease in sales volume is expected to result in a gross margin
reduction. The lower revenue for the quarter is primarily the result of
missed shipments due to operational capacity issues at end-of-year, as
well as lower European sales compared to the previous revenue guidance.
Ziv Shoshani, CEO of VPG, commented, “We normally expect our quarterly
sales to vary within our revenue guidance range. However, our Foil
Technology Products segment was not able to ship approximately $2
million of customer orders due to operational capacity issues that
occurred. In addition, our Weighing Modules and Control Systems segment
revenue is expected to be approximately $2.5 million below our guidance.
This is primarily from a decline in European sales during the latter
part of the fourth quarter. Although our fourth quarter revenues are
slightly below our guidance, the trailing three month book to bill ratio
was 0.95, including European customers.”
About Vishay Precision Group
Vishay Precision Group produces precision sensors based on its resistive
foil technology, and sensor-based systems. VPG provides vertically
integrated products and solutions for multiple growing markets in the
areas of current, stress, force, weight, and pressure measurements. As a
spin-off from Vishay Intertechnology, the Company has a decades-long
track record of innovation in foil precision resistors, current sensors,
and strain gages, which serves as a foundation for its more recent
expansion into strain gage instrumentation, load cells and transducers,
weighing modules, and complete systems for process control and on-board
weighing. Vishay Precision Group may be found on the internet at www.vishaypg.com.
Forward Looking Statements
From time to time, information provided by us, including but not
limited to statements in this report, or other statements made by or on
our behalf, may contain "forward-looking" information within the meaning
of the Private Securities Litigation Reform Act of 1995. Such statements
involve a number of risks, uncertainties, and contingencies, many of
which are beyond our control, which may cause actual results,
performance, or achievements to differ materially from those anticipated.
Such statements are based on current expectations only, and are
subject to certain risks, uncertainties, and assumptions. Should one or
more of these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from
those anticipated, expected, estimated, or projected. Among the factors
that could cause actual results to materially differ include: general
business and economic conditions, changes in the current pace of
economic recovery, including if such recovery stalls or does not
continue as expected; difficulties in integrating acquired companies,
the inability to realize anticipated synergies and expansion
possibilities, unexpected costs or difficulties related to our recent
spinoff and other unanticipated conditions adversely affecting the
operation of these companies; difficulties in new product development;
changes in competition and technology in the markets that we serve and
the mix of our products required to address these changes; changes in
foreign currency exchange rates; difficulties in implementing our cost
reduction strategies such as labor unrest or legal challenges to our
lay-off or termination plans, underutilization of production facilities
in lower-labor-cost countries, operation of redundant facilities due to
difficulties in transferring production to lower-labor-cost countries;
and other factors affecting our operations, markets, products, services,
and prices that are set forth in our annual report on Form 10-K for the
year ended December 31, 2010. We undertake no obligation to publicly
update or revise any forward-looking statements, whether as a result of
new information, future events, or otherwise.
Vishay Precision Group, Inc.
Michael Sheaffer, Sr. Mgr. Investor
Relations
+1 484-321-5327
[email protected]
Source: Vishay Precision Group, Inc.