Vishay Precision reports Q2 adjusted EPS 31c vs. 58c last year

Reports Q2 revenue $77.4M vs. $90.8M last year. Ziv Shoshani, Chief Executive Officer of VPG, commented, “Sales in the second quarter were 4.2% lower sequentially reflecting continued mixed trends across our markets. Our book-to-bill in the second quarter improved slightly to 0.95, reflecting orders of $73.5 million which declined slightly sequentially. Demand improved in some cyclical markets such as Steel and consumer, while orders were lower in portions of our Test & Measurement market, as well as in Avionics, Military & Space and our industrial markets, primarily due to project timing and continued cautious ordering by our distributor customers.” Shoshani said: “Given our strong balance sheet and solid cash flow, we are continuing to focus on cost-reduction initiatives while maintaining our ongoing strategic business development aimed at accelerating our long-term growth.”