Vishay Technology profit misses estimates
July 31 |
July 31 (Reuters) - Chipmaker Vishay Intertechnology Inc's quarterly profit missed estimates as revenue fell 17 percent.
Net income attributable to stockholders fell to $45.7 million, or 29 cents per share, from $82.1 million, or 48 cents per share, a year earlier.
Excluding items, the company, which makes chips for used in the computing, telecom and industrial markets, earned 24 cents per share. Net revenue fell to $588.2 million.
Analysts expected an adjusted profit of 26 cents per share, on revenue of $589.2, according to Thomson Reuters I/B/E/S.
"During the second quarter most end markets seem to be increasingly influenced by macro uncertainties," CEO Gerald Paul said.
The company expects third-quarter revenue of $570 million to $610 million, compared with analysts' estimates of $582.3 million.
Shares of the company, which closed at $8.76 on the New York Stock Exchange on Monday, have fallen 31 percent since it reported first-quarter results early May.
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