Vishay Intertechnology Updates First Quarter 2021 Guidance and Schedules First Quarter 2021 Earnings Call

Rhea-AI Summary

Vishay Intertechnology (NYSE: VSH) has revised its first fiscal quarter 2021 revenue outlook, now expecting approximately $765 million with an adjusted gross margin of about 26.5%. This is an improvement from the previous range of $705 million to $745 million at a gross margin of 25.0%. The final results will be released on May 4, 2021, before market opening, followed by a conference call at 9:00 a.m. ET.

Positive

• Increased revenue forecast to approximately $765 million from the previous estimate of $705 to $745 million.
• Adjusted gross margin improvement to about 26.5%, compared to the earlier projection of 25.0%.

Negative

• None.

MALVERN, Pa., April 15, 2021 (GLOBE NEWSWIRE) -- Vishay Intertechnology, Inc., (NYSE: VSH), one of the world's largest manufacturers of discrete semiconductors and passive electronic components, today announced that its results for the first fiscal quarter of 2021 are expected to be above the Company’s previous outlook. The Company now expects first quarter revenues of approximately $765 million at an adjusted gross margin of approximately 26.5% plus/minus 10 basis points. The previous expectation was for revenues in the range of $705 to $745 million at a gross margin of 25.0% plus/minus 60 basis points, assuming the same exchange rates as in the fourth quarter of 2020.

Vishay will release its results for the first quarter ended April 3, 2021 before the New York Stock Exchange opens on Tuesday, May 4, 2021.

A conference call to discuss Vishay’s first quarter financial results is scheduled for Tuesday, May 4, 2021 at 9:00 a.m. ET. The dial-in number for the conference call is 877 589-6174 (+1 706-643-1406, if calling from outside the United States) and the access code is 6669583.

A live audio webcast of the conference call and a PDF copy of the press release and the quarterly presentation will be accessible directly from the Investor Relations section of the Vishay website at http://ir.vishay.com.

There will be a replay of the conference call from 12:05 p.m. ET on Tuesday, May 4, 2021 through 11:59 p.m. ET on Wednesday, May 19 The telephone number for the replay is +1 855-859-2056 (+1 404-537-3406, if calling from outside the United States or Canada) and the access code is 6669583.

About Vishay
Vishay manufactures one of the world’s largest portfolios of discrete semiconductors and passive electronic components that are essential to innovative designs in the automotive, industrial, computing, consumer, telecommunications, military, aerospace, and medical markets. Serving customers worldwide, Vishay is The DNA of tech.™ Vishay Intertechnology, Inc. is a Fortune 1,000 Company listed on the NYSE (VSH). More on Vishay at www.Vishay.com.

Statements contained herein that relate to the Company's expected first quarter revenues, and gross margins are forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "believe," "estimate," "will be," "will," "would," "expect," "anticipate," "plan," "project," "intend," "could," "should," or other similar words or expressions often identify forward-looking statements. Such statements are based on current expectations only, and are subject to certain risks, uncertainties and assumptions, many of which are beyond our control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance, or achievements may vary materially from those anticipated, estimated or projected. Results for the first fiscal quarter will only be known with certainty when the Company completes its accounting for the quarter. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

The DNA of tech™ is a trademark of Vishay Intertechnology.

Contact:
Vishay Intertechnology, Inc.
Peter Henrici
Senior Vice President, Corporate Communications
+1-610-644-1300

FAQ

What is Vishay Intertechnology's revised revenue outlook for Q1 2021?

Vishay Intertechnology now expects revenues of approximately $765 million for Q1 2021.

When will Vishay Intertechnology release its Q1 2021 results?

Vishay will release its Q1 2021 results on May 4, 2021, before the market opens.

What is the expected gross margin for Vishay Intertechnology in Q1 2021?

The expected adjusted gross margin for Q1 2021 is approximately 26.5%.

When is the conference call for Vishay's Q1 2021 financial results?

The conference call is scheduled for May 4, 2021, at 9:00 a.m. ET.