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UPDATE 1-Vishay Q2 tops Street, sees strong Q3 revenue
August 3, 2010 / 12:42 PM / in 7 years

UPDATE 1-Vishay Q2 tops Street, sees strong Q3 revenue

* Q2 EPS $0.40 vs est EPS $0.29

* Revenue up 52 pct to $701.7 mln

* Sees Q3 rev $650 mln-$690 mln vs est $652.8 mln

* Shares up 8 pct before the bell

Aug 3 (Reuters) - Chipmaker Vishay Intertechnology Inc (VSH.N) posted better-than-expected quarterly results as it saw growth across all regions, and guided third-quarter revenue largely above Wall Street estimates.

Shares of the company were trading up 8 percent at $9.48 before the bell Tuesday. They closed at $8.79 Monday on the New York Stock Exchange. The company expects third-quarter revenue of $650 million to $690 million, the mid point of which falls above analyst estimates of $652.8 million, according to Thomson Reuters I/B/E/S.

For the second quarter, Vishay’s net income attributable to its stockholders was $76.7 million, or 40 cents a share, compared with a loss of $58.9 million, or 32 cents per share, a year ago.

Analysts were looking for a profit of 29 cents per share.

Revenue rose 52 percent to $701.7 million, above analysts’ expectations of $670.2 million.

During the quarter, sales reached close to pre-crisis levels while orders stabilized on higher than pre-crisis levels, Chief Executive Gerald Paul.

“All regions and all end markets remained strong to over-heated, in particular netbook, consumer and fixed telecom. Automotive showed a strong recovery,” Paul added. (Reporting by Mansi Dutta in Bangalore; Editing by Anne Pallivathuckal)

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