Vishay Updates Guidance and Schedules Q3-15 Earnings Call for 11/3
MALVERN, Pa., Oct. 08, 2015 (GLOBE NEWSWIRE) — Vishay Intertechnology, Inc., (NYSE:VSH), one of the world’s largest manufacturers of discrete semiconductors and passive electronic components, today updated its guidance for the third quarter of 2015.
Vishay announced that it expects third quarter revenues to be between $558 million and $562 million, with gross margins in the range of 21% to 23%, when it announces third quarter results on November 3, 2015. The previous expectation was for revenues in the range of $560 to $600 million and for gross margins of 22% to 24%, based on a 1.10 U.S. dollar to euro exchange rate.The change in outlook primarily reflects the impact of a temporary shutdown of Vishay’s Tianjin, China diodes facility. Vishay owns and operates a diodes manufacturing facility near the port. The shockwave of the explosion in the port of Tianjin on August 12, 2015 had resulted in some damage to the facility and caused a temporary shutdown. Full production resumed on September 8, 2015.Vishay will release results for the third quarter on November 3, 2015.