From GlobeNewswire: 2025-02-12 06:30:00

Vishay Precision Group, Inc. announced its fiscal 2024 fourth quarter results, with revenues of $72.7 million, a decrease of 18.8% from the previous year. The company reported diluted net earnings per share of $0.06, down from $0.31 a year ago. For the full year, revenues were $306.5 million, a 13.7% decrease from the previous year.

CEO Ziv Shoshani noted challenges in 2024 but highlighted sequential growth in the fourth quarter, driven by segments like Sensors and Weighing Solutions. The company is focusing on key projects in industrial and medical robotics, data center, and telecommunications. One-time costs in Q4 were around $700 thousand, mainly related to R&D projects.

In the fourth quarter of 2024, net earnings attributable to VPG stockholders were $0.8 million, or $0.06 per diluted share, compared to $4.2 million, or $0.31 per diluted share, in the fourth quarter of 2023. For the full fiscal year 2024, net earnings attributable to VPG stockholders were $9.9 million, or $0.74 per diluted share, compared to $25.7 million, or $1.88 per diluted share, in 2023.

Segment performance showed a decline in revenues for Sensors, Weighing Solutions, and Measurement Systems in the fourth fiscal quarter of 2024. Gross profit margins varied across segments due to factors like volume, product mix, and manufacturing efficiencies. The company’s near-term outlook for the first quarter of 2025 expects net revenues in the range of $70 million to $76 million.

Vishay Precision Group uses non-GAAP financial information like adjusted gross profit margin, operating margin, and net earnings to provide a consistent basis for evaluating operating results. These measures help in understanding the core operating results for the relevant period. The company will hold a conference call on February 12, 2025, to discuss these financial results with investors and analysts.



Read more at GlobeNewswire:: VPG Reports Fiscal 2024 Fourth Quarter and Twelve Months