Vishay Intertechnology Q3 Results Miss Estimates - Quick Facts

(RTTNews) - Vishay Intertechnology, Inc. (VSH) posted higher third-quarter net earnings attributable to stockholders of $32.7 million, or $0.22 per share, versus $22.3 million, or $0.15 per share a year before. The latest results include a one-time tax benefit of $2.9 million to adjust deferred tax assets subsequent to the enacting of a new tax law in Israel, which effectively increases the corporate income tax rate on certain types of income earned after January 1, 2014.

On an adjusted basis, net earnings per share, excluding this item, totaled $0.20 for the fiscal quarter ended September 28, 2013. On average, 6 analysts polled by Thomson Reuters expected earnings per share of $0.24 for the quarter. Analysts' estimates typically exclude one-time items.

Revenues for the quarter were $602.89 million, compared with $572.78 million for the fiscal quarter ended September 29, 2012. Five analysts estimated revenues of $621.50 million for the quarter.

Commenting on the outlook for the fourth quarter 2013, the company stated, "We guide for revenues of $570 to $610 million at margins in line with this level of volume."