Vishay Precision Group, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2018; Provides Revenue Guidance for the Second Quarter of 2018; Provides Tax Rate Guidance for the Full Year 2018
May 08, 2018 at 05:00 pm IST
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Vishay Precision Group, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported net revenues of $73,091,000 against $59,787,000 a year ago. Operating income was $8,186,000 against $3,945,000 a year ago. Income before taxes was $7,095,000 against $2,964,000 a year ago. Net earnings were $4,958,000 against $2,003,000 a year ago. Net earnings attributable to the company were $4,958,000 or $0.37 per basic and diluted share against $2,003,000 or $0.0.15 per basic and diluted share a year ago. Net cash provided by operating activities was $1,804,000 against $2,881,000 a year ago. Capital expenditures were $1,773,000 against $1,962,000 a year ago. Adjusted net earnings attributable to the company were $4,988,000 or $0.37 per diluted share against $2,507,000 or $0.37 per diluted share a year ago. The company generated negative free cash flow of $2.4 million for the first quarter of 2018 as compared to a positive $1.1 million for the first quarter of 2017.
The company net revenues in the range of $71 million to $77 million for the second fiscal quarter of 2018.
For the year 2018, The company anticipates that the operational tax rate will be in the range of 28% to 30%.
Vishay Precision Group, Inc. is a global, diversified company focused on precision measurement and sensing technologies, including specialized sensors, weighing solutions, and measurement systems. The Company operates through three segments: Sensors, Weighing Solutions, and Measurement Systems. Its Sensors reporting segment is comprised of the foil resistor and strain gage operating segments. Its foil resistors are marketed under VFR, Alpha Electronics, Powertron and APR brands. The Weighing Solutions segment is comprised of its VPG Transducers, VPG Onboard Weighing, BLH Nobel, Stress-Tek, Celtron and Vulcan businesses. The Weighing Solutions segment includes specialized modules and systems used to precisely measure weight, force torque, and pressure. The Measurement Systems segment is comprised of highly specialized systems for steel production, materials development, and safety testing. This segment is comprised of its KELK, DSI, Pacific Instruments, and its DTS businesses.
Vishay Precision Group, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2018; Provides Revenue Guidance for the Second Quarter of 2018; Provides Tax Rate Guidance for the Full Year 2018