Vishay Precision reports higher Q4 net income, provides outlook for Q1

Vishay Precision Group, Inc., a producer of precision sensors and systems, has reported that net earnings attributable to the stock holders for the fourth quarter ended December 31, 2012 was $5.16 million, or $0.37 per diluted share, compared to $1.19 million, or $0.09 per diluted share, for the same quarter ended December 31, 2011. For the first quarter of 2013, the company expects overall revenues in the range of $54 million to $59 million.

Net revenues for the fourth quarter ended December 31, 2012 were $51.01 million, compared to $56.41 million for the same quarter ended December 31, 2011.

Net earnings attributable to the company stockholders for the year ended December 31, 2012 was $11.69 million, or $0.84 per diluted share, compared to $10.77 million, or $0.78 per diluted share, for the year ended December 31, 2011.

Net revenues for the year ended December 31, 2012 were $217.62 million, compared to $238.12 million for the year ended December 31, 2011.

Ziv Shoshani, CEO of VPG, said, "Cash flow was impressive in the fourth quarter and for the year. Revenues have decreased on a year-over-year basis, primarily in Europe, and to a lesser extent in Asia - a reflection of the soft global industrial segment environment. We continue to execute our strategy of enhancing organic growth and operational efficiency, investing in our technology and pursuing acquisitions with the goal of increasing shareholder value."