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UPDATE 1-Vishay Intertechnology Q4 beats est, sees strong Q1 rev
February 9, 2010 / 5:22 PM / in 8 years

UPDATE 1-Vishay Intertechnology Q4 beats est, sees strong Q1 rev

* Q4 adj EPS $0.16 vs $0.12 est

* Q4 rev up 5 pct

* Sees Q1 rev $630 mln-$670 mln vs $594.6 mln est

* Says actively looking for acquisitions

* Shares up 11 pct

Feb 9 (Reuters) - Chipmaker Vishay Intertechnology Inc (VSH.N) posted better-than-expected fourth-quarter results, helped by strong end-market demand, and forecast first-quarter revenue above Wall Street expectations, sending its shares up 11 percent.

The company forecast first-quarter revenue of $630 million to $670 million. Analysts were looking for $594.6 million, according to Thomson Reuters I/B/E/S.

For the fourth quarter, Vishay’s net income attributable to its stockholders was $28.5 million, or 15 cents a share, compared with a loss of $652.3 million, or $3.50 per share, a year ago.

Excluding items, the company earned 16 cents a share, while analysts were expecting 12 cents a share.

Revenue rose 5 percent to $607 million, above analysts’ expectations of $591.1 million.

“In the fourth quarter 2009 the demand for both passive components and discrete semiconductors increased dramatically across all geographies, all end markets and all sales channels,” Chief Executive Gerald Paul said. “Orders are approaching pre-crisis levels.”

Vishay is actively pursuing acquisitions targeting small to mid-sized companies, it said.

Shares of the company jumped 11 percent to $8.99 Tuesday morning to be one of the highest percentage gainers on the New York Stock Exchange.

For related alerts, click [ID:nWNAB4924] (Reporting by Manasi Phadke in Bangalore; Editing by Jarshad Kakkrakandy)

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