Vishay Precision Q1 Adj. EPS Misses View, Revenues Top; Issues Q2 Sales View

(RTTNews) - Vishay Precision Group Inc. (VPG) Tuesday reported that its first-quarter net earnings attributable to VPG stockholders grew to $2 million or $0.15 per share from $0.5 million or $0.04 per share last year.

Adjusted net earnings attributable to VPG stockholders were $2.5 million or $0.19 per share, compared to $1.7 million or $0.13 per share for the comparable prior year period.

Revenues grew 5.6 percent to $59.79 million from $56.63 million last year.

On average, analysts polled by Thomson Reuters expected earnings of $0.22 per share on revenues of $58.04 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead, for the second quarter, the company expects net revenues in the range of $58 million to $63 million, in light of an improved business environment and at constant first quarter 2017 exchange rates. Analysts expect revenues of $60.7 million for the quarter.

Ziv Shoshani, chief executive officer of VPG, said, "Our ongoing restructuring is driving profitability and cash flow improvements and we will continue to work to capture efficiency opportunities, better serve our customers and enhance our financial performance. We have begun 2017 well and, as we progress through the year, we believe we have an excellent opportunity to leverage our end market growth and drive value to our shareholders."