Vishay Intertechnology, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Earnings Guidance for First Quarter of 2018; Provides Tax Rate Guidance for 2018
February 06, 2018 at 09:54 am
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Vishay Intertechnology, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported net revenues of $674,489,000 against $570,819,000 a year ago. Operating income was $72,536,000 against operating loss of $45,468,000 a year ago. Income before taxes was $67,025,000 against loss before taxes of $41,320,000 a year ago. Net loss was $177,501,000 against $48,604,000 a year ago. Net loss attributable to company stockholders was $177,657,000 against $48,748,000 a year ago. Basic and diluted loss per share attributable to company stockholders was $1.23 against $0.33 a year ago. Adjusted net earnings were $59,936,000 or $0.37 per share diluted against $27,343,000 or $0.18 per share diluted a year ago. Net cash provided by operating activities was $122,932,000 against $83,439,000 a year ago. Capital expenditure was $85,642,000 against $53,289,000 a year ago. EBITDA was $114,015,000 against $4,558,000 a year ago. Adjusted EBITDA was $119,146,000 against $82,130,000 a year ago.
For the year, the company reported net revenues of $2,603,522,000 against $2,323,431,000 a year ago. Operating income was $311,588,000 against $101,717,000 a year ago. Income before taxes was $279,364,000 against $94,216,000 a year ago. Net loss was $19,560,000 against net income of $49,373,000 a year ago. Net loss attributable to company stockholders was $20,344,000 against net income attributable to common stockholders of $48,792,000 a year ago. Basic and diluted loss per share attributable to company stockholders was $0.14 against diluted income per share attributable to company stockholders of $0.32 a year ago. Net cash provided by operating activities was $368,777,000 against $296,509,000 a year ago. Purchase of property and equipment was $170,432,000 against $134,635,000 a year ago. Adjusted net earnings were $224,328,000 or $1.43 per share diluted against $128,160,000 or $0.85 per share diluted a year ago. EBITDA was $463,878,000 against $274,938,000 a year ago. Adjusted EBITDA was $481,263,000 against $361,611,000 a year ago.
For the first quarter, the company expects revenues of $665 million to $705 million and gross margins of 26.5% to 27.5% at fourth quarter exchange rates.
Consolidated tax rate for 2018 will be in the high 20s. For 2018, the company expects CapEx of about $210 million.
Vishay Intertechnology, Inc. (Vishay) is engaged in manufacturing a portfolio of discrete semiconductors and passive electronic components, which supports designs in the automotive, industrial, computing, consumer, telecommunications, military, aerospace, and medical markets. Vishay designs, manufactures, and markets electronic components that cover a range of functions and technologies. Its products include commodity, non-commodity, and custom products. Vishayâs brands include Siliconix, Dale, Draloric, Beyschlag, Sfernice, MCB, UltraSource, Applied Thin-Film Products, IHLP, HiRel Systems, Sprague, Vitramon, Barry, and BCcomponents. Vishayâs semiconductors products include metal oxide semiconductor field-effect transistors (MOSFETs), diodes, and optoelectronic components. The Companyâs semiconductor components are used for a variety of functions, including power control, power conversion, signal switching, signal routing, signal blocking, two-way data transfer, and circuit isolation.
Vishay Intertechnology, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Earnings Guidance for First Quarter of 2018; Provides Tax Rate Guidance for 2018