Revenue Performance
First quarter revenue was $715 million, slightly above the midpoint of guidance and flat with the fourth quarter. The book-to-bill ratio for semiconductors was 1.12 and for passives was 1.04, indicating positive demand trends.
Positive Market Signals
Book-to-bill ratios remained positive, with order intake improving, particularly from smart grid infrastructure projects and AI. Distribution customer point-of-sale was up in all regions, supporting a 6% revenue increase guidance for Q2.
Industrial Market Growth
Revenue from the industrial market increased 3% from the fourth quarter, led by Europe. Vishay won two new smart grid programs in Europe and Asia, and their first U.S. high-voltage DC power transmission program.
AI and Semiconductor Developments
AI-related shipment quantities increased in Q1, and Vishay is expanding relationships with chip manufacturers and design activity. The company also continues to expand semiconductor capacity, including silicon carbide technologies.