Vishay Precision Group Lowers FY16 Adj. EPS Guidance - Quick Facts

(RTTNews) - Vishay Precision Group, Inc. (VPG), a producer of precision sensors and systems, updated its expectation for fiscal 2016 adjusted earnings per share to be in the range of $0.70 to $0.80, at constant exchange rate. In May, the company projected fiscal 2016 adjusted earnings in a range of $0.80 to $1.00 per share, at constant exchange rates.

Vishay Precision Group said, in light of global economic conditions, the continued strength of the U.S. dollar compared to other currencies and the normal seasonality of business, it expects net revenues in the range of $55 million to $60 million for the third quarter of 2016.

For the second quarter of 2016, net earnings attributable to stockholders were $1.9 million, or $0.14 per share, compared to $1.5 million, or $0.11 per share, prior year. Adjusted net earnings per share was $0.15, for the quarter. Net revenues for the second quarter of 2016 were $58.0 million, down 2.5% compared with $59.5 million of net revenues for the prior year period.