Vishay Intertechnology Inc. recently reported a drop in profits for the first quarter of the year, compared to the same period last year. Despite the decline, the company still managed to surpass the predictions made by Wall Street.
The company reported a total earning of $30.92 million, translating to $0.22 per share. This is in stark contrast to the first quarter of the last year, when the company garnered $111.78 million, equivalent to $0.79 per share.
Predictions made by analysts, as consolidated by Thomson Reuters, initially estimated earnings to average at $0.21 per share. It should be noted that these estimates commonly do not account for exceptional items.
Vishay's revenue for the quarter shrunk by 14.3%, resulting in $746.28 million as opposed to the $871.05 million earned in the previous year.
For a quick snapshot: the earnings of Vishay Intertechnology Inc., based on GAAP, for Q1 were reported at $30.92 million, a decline from $111.78 million last year. The earnings per share (EPS) for Q1 fell to $0.22 from $0.79 of the past year. Revenue for Q1 was announced at $746.28 million, down from $871.05 million last year.
As for upcoming prospects, the company estimates the revenue for the next quarter to range between $730 to $770 million.