UPDATE 1-Vishay Q3 results top Street, to spin off businesses
* Q3 adj eps $0.03 vs est $0.02
* Q3 rev $525.3 mln vs est $508.9 mln
* Sees Q4 rev $530-$570 mln vs est $523.4 mln
* To spin-off measurements and foil resistor businesses
Oct 27 (Reuters) - Chipmaker Vishay Intertechnology Inc (VSH.N) posted a better-than-expected third-quarter profit, helped by lower costs, and forecast fourth-quarter revenue above Wall Street expectations.
The company also said it will spin-off its measurements and foil resistor businesses into a publicly-traded company in 2010.
Fixed costs were reduced by $173 million this year till September compared with the same period in 2008, the company said in a statement.
For the fourth quarter, the company expects revenue of $530 million to $570 million. Analysts were expecting revenue of $523.4 million, according to Thomson Reuters I/B/E/S.
Net earnings for the quarter ended Sept. 26 were $2.3 million, or 1 cent a share, compared to a net loss of $301.3 million, or $1.62 a share in the year-ago period. Adjusted earnings for the latest third quarter were 3 cents a share.
Revenue fell about 29 percent to $525.3 million, but handily beat analysts' expectations.
Analysts on average were expecting the company to earn 2 cents a share on revenue of $508.9 million.
Shares of the Malvern, Pennsylvania-based company closed at $6.86 Monday on the New York Stock Exchange. (Reporting by Sudipto Ganguly in Bangalore; Editing by Maju Samuel)
