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UPDATE 1-Vishay Q1 loss narrower than expected

Tue Apr 28, 2009 11:54am EDT

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* Q1 adj loss/shr $0.08 vs est $-0.17

* Q1 rev $450 mln vs est $468.20 mln

April 28 (Reuters) - Chipmaker Vishay Intertechnology Inc (VSH.N) posted a narrower-than-expected quarterly loss, helped by tighter cost controls.

The company posted a net loss of $29.1 million, or 16 cents a share, compared with a loss of $30.7 million, or 16 cents a share, a year ago.

The net loss was impacted by pretax charges for restructuring and severance costs of $18.2 million and related asset write-downs of $4.2 million.

Revenue fell 39 percent to $450 million.

Selling, general and administrative expenses fell 25 percent to $87.5 million.

"Our business seems to have bottomed out in the first quarter. Semiconductors already show first signs of a recovery in the course of the quarter, picking up even more in April," Chief Executive Gerald Paul said.

Shares of the company were up 2.71 percent at $5.30 Tuesday on the New York Stock Exchange.

For the alerts, double-click. [ID:nWNAB9138] (Reporting by Mansi Dutta in Bangalore; Editing by Anil D'Silva)



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