MALVERN, Pa.--(BUSINESS WIRE)--
Vishay Precision Group, Inc. (NYSE: VPG), a leading producer of
precision sensors and systems, today updated its first quarter revenue
guidance for the three months ended March 28, 2015.
The company previously provided first quarter 2015 net revenue guidance
in the range of $59 million to $64 million. The company expects to
report first quarter 2015 net revenues of approximately $57 million. The
net revenues in the quarter were significantly impacted by foreign
exchange rate effects, which were greater than previously forecast, and,
to a lesser extent, a drop in volume due to macroeconomic conditions.
Earnings Release Date, Conference Call and Webcast
VPG will release results for its Fiscal 2015 first quarter results at
approximately 8:00 a.m. EDT (7:00 a.m. CDT) on May 5, 2015.
A conference call will be held May 5, 2015 at 10:00 a.m. EDT (9:00 a.m.
CDT). To access the conference call, interested parties may call
1-888-317-6003 or internationally 1-412-317-6061 and use passcode
1260722, or log on to the investor relations page of the VPG website at www.vpgsensors.com.
A replay will be available approximately one hour after the completion
of the call by calling toll-free 1-877-344-7529 or internationally
1-412-317-0088 and by using the passcode: 10063601. The replay will also
be available on the investor relations page of the VPG website at www.vpgsensors.com
for a limited time.
About VPG
Vishay Precision Group, Inc. (VPG) is an internationally recognized
designer, manufacturer and marketer of: components based on its
resistive foil technology; sensors; and sensor-based systems
specializing in the growing markets of stress, force, weight, pressure,
and current measurements. VPG is a market leader of Foil Technology
Products, providing ongoing technology innovations in precision foil
resistors and foil strain gages, which are the foundation of the
company's Force Sensors products and its Weighing and Control Systems.
The product portfolio consists of a variety of well-established brand
names recognized for precision and quality in the marketplace. To learn
more, visit VPG at www.vpgsensors.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 or delays in completing acquisitions
and integrating acquired companies, including KELK, the inability to
realize anticipated synergies and expansion possibilities, 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 ERP system and the associated impact on
manufacturing efficiencies and customer satisfaction; difficulties in
implementing our cost reduction strategies such as underutilization of
production facilities, labor unrest or legal challenges to our lay-off
or termination plans, 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
fiscal year ended December 31, 2014. We undertake no obligation to
publicly update or revise any forward-looking statements, whether as a
result of new information, future events, or otherwise.
VPG
Wendy Wilson
Senior Director Investor Relations and
Corporate Communications
919-374-5501
[email protected]
Source: VPG