Vishay Intertechnology Guides Q2 Revenues Below View; Q1 Results Top Estimates

(RTTNews) - While reporting financial results for the first quarter on Tuesday, semiconductor maker Vishay Intertechnology, Inc. (VSH) provided revenue guidance for the second quarter, below analysts' estimates.

For the second quarter, the company expects revenues in a range of $830 million to $870 million and gross margins of 28.1 percent plus/minus 50 basis points.

On average, three analysts polled by Thomson Reuters expect the company to report revenues of $874.90 million for the quarter.

For the first quarter, the company reported net income attributable to the company of $103.57 million or $0.71 per share, up from $71.44 million or $0.49 per share in the prior-year quarter. Excluding items, adjusted earnings for the quarter were $0.71 per share, compared to $0.46 per share in the year-ago quarter.

Total revenue for the quarter grew to $853.79 million from $764.63 million in the same quarter last year.

The Street expected the company to report earnings of $0.58 per share on revenues of $842.80 million for the quarter. Analysts' estimates typically exclude special items.