8-K
Vishay Precision Group, Inc. (VPG)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
| Date of Report (Date of Earliest Event Reported): | August 5, 2025 |
|---|
Vishay Precision Group, Inc.
(Exact Name of Registrant as Specified in Charter)
| Delaware | 1-34679 | 27-0986328 |
|---|---|---|
| (State or Other Jurisdiction of | (Commission File Number) | (I.R.S. Employer Identification |
| Incorporation or Organization) | Number) | |
| 3 Great Valley Parkway, Suite 150 | ||
| --- | --- | |
| Malvern, PA | 19355 | |
| (Address of Principal Executive Offices) | (Zip Code) |
(484) 321-5300
(Registrant’s Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common stock, $0.10 par value | VPG | New York Stock Exchange |
| Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). | ||
| --- | --- | |
| Emerging growth company | ☐ | |
| If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ |
Item 2.02 Results of Operations and Financial Conditions.
Vishay Precision Group, Inc. (the "Company") issued a press release on August 5, 2025 announcing results for the second quarter of fiscal 2025. The Company will hold a conference call at 9:00 a.m. Eastern time on August 5, 2025 to discuss its results for the second quarter of fiscal 2025. A copy of the press release is furnished as Exhibit 99.1 to this Form 8-K and shall not be deemed to be “filed” for any purpose.
Item 9.01 Financial Statements and Exhibits.
| Exhibit No. | Description |
|---|---|
| 99.1 | Press release dated August 5, 2025. |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Vishay Precision Group, Inc. | ||
|---|---|---|
| Date: August 5, 2025 | By: | /s/ William M. Clancy |
| Name: William M. Clancy | ||
| Title: Executive Vice President and Chief | ||
| Financial Officer |
ex_821909.htm
Exhibit 99.1
For Immediate Release
VPG Reports Fiscal 2025 Second Quarter Results
MALVERN, Pa. (August 5, 2025) - Vishay Precision Group, Inc. (NYSE: VPG), a leader in precision measurement and sensing technologies, today announced its results for its fiscal 2025 second quarter ended June 28, 2025.
Second Fiscal Quarter Highlights (comparisons are to the comparable period a year ago):
| • | Net revenues of $75.2million decreased 2.8%. |
|---|---|
| • | Gross profit margin was 40.7% as compared to 41.9% |
| --- | --- |
| • | Adjusted gross profit margin* was 41.0%, as compared to 41.9% |
| --- | --- |
| • | Operating margin was 3.6% as compared to 7.6%. |
| --- | --- |
| • | Adjusted operating margin* was 4.8%, as compared to 7.6%. |
| --- | --- |
| • | Diluted net earnings per share of $0.02 compared to $0.34. |
| --- | --- |
| • | Adjusted diluted net earnings per share* of $0.17 compared to $0.31. |
| --- | --- |
| • | EBITDA* was $5.2million with an EBITDA margin* of 7.0%. |
| --- | --- |
| • | Adjusted EBITDA* was $7.9million with an adjusted EBITDA margin* of 10.5%. |
| --- | --- |
| • | Cash from Operating Activities was $6.0 million with Adjusted Free Cash Flow* of $4.7 million. |
| --- | --- |
Ziv Shoshani, Chief Executive Officer of VPG, commented, “We were pleased with the positive sequential trends in the quarter, which reflected a moderately improved business climate. Second quarter sales grew 4.8% sequentially, and total orders of $79.9 million grew 7.5% sequentially, our third consecutive quarter of order growth. This resulted in a book-to-bill of 1.06, as our Measurement Systems and Sensors reporting segments recorded book-to-bill ratios of 1.20 and 1.12, respectively.”
Mr. Shoshani said: “Compared to the first quarter of 2025, we improved our adjusted gross margin, adjusted operating margin, and adjusted EBITDA, despite a $500 thousand negative impact from tariffs. This performance reflected a record quarterly gross margin for our Weighing Solutions segment. In July 2025, we completed the sale of a building as part of our ongoing cost reduction and efficiency initiatives, and we used the $10.8 million in net proceeds to pay down our outstanding bank revolver balance, which is expected to save approximately $700 thousand in annual interest expense.”
Second Fiscal Quarter and Six-Month Financial Trends:
The Company's second fiscal quarter 2025 net earnings attributable to VPG stockholders was $0.3 million or $0.02 per diluted share, compared to net earnings of $4.6 million, or $0.34 per diluted share, in the second fiscal quarter of 2024.
In the six fiscal months ended June 28, 2025, net loss attributable to VPG stockholders were $0.7 million, or $0.05 per diluted share, compared to net earnings attributable to VPG stockholders of $10.5million, or $0.78 per diluted share, in the six fiscal months ended June 29, 2024.
The second fiscal quarter 2025 adjusted net earnings* were $2.3million, or $0.17 of adjusted diluted net earnings per share*, compared to $4.2 million or $ 0.31 of adjusted diluted net earnings per share* in the second fiscal quarter of 2024.
In the six fiscal months ended June 28, 2025, adjusted net earnings* were $2.7million, or $0.21 of adjusted diluted net earnings per share*, compared to $9.8 million, or $0.73 of adjusted diluted net earnings per share* in the six fiscal months ended June 29, 2024.
Segment Performance:
The Sensors segment revenue of $26.6million in the second fiscal quarter of 2025 decreased 8.0% from $28.9 million in the second fiscal quarter of 2024. Sequentially, revenue decreased 1.8% compared to $27.1million in the first fiscal quarter of 2025. The year-over-year decrease in revenues was primarily attributable to lower sales of strain gages in our Other markets for consumer applications, which offset higher sales in the Test and Measurement market. Sequentially, the decrease primarily reflected lower sales of precision resistors in the Test and Measurement market.
Gross profit margin for the Sensors segment was 32.0%for the second fiscal quarter of 2025, which decreased from 38.3% in the second fiscal quarter of 2024 and increased from 30.1%in the first fiscal quarter of 2025. Adjusted for $0.1 million of start-up costs related to manufacturing consolidations, adjusted gross margin* was 32.2%in the second fiscal quarter of 2025. Adjusted for $0.2 million of start-up costs related to manufacturing consolidations, adjusted gross margin was 30.8% in the first fiscal quarter of 2025. The year-over-year decrease in adjusted gross profit margin* was primarily due to lower volume, net tariffs costs, and manufacturing inefficiencies, partially offset by an increase in inventories. Sequentially, the higher adjusted gross profit margin* was primarily due to an increase inventories and favorable foreign currency exchange rates, which offset the impact of lower volume and net tariff costs.
The Weighing Solutions segment revenue of $29.4million in the second fiscal quarter of 2025 increased 7.2% compared to $27.4million in the second fiscal quarter of 2024 and was 11.3% higher than $26.4million in the first fiscal quarter of 2025. The year-over-year increase in revenues was mainly attributable to higher sales in the Transportation market, as well as in our Other markets. Sequentially, the increase in revenues was primarily due to higher sales in the Transportation and Industrial Weighing markets, and in our Other markets for medical and precision agriculture applications.
Gross profit margin for the Weighing Solutions segment was 39.6% for the second fiscal quarter of 2025. Gross profit margin increased compared to 37.6% in the second fiscal quarter of 2024 and 36.8% in the first fiscal quarter of 2025. Adjusted for $0.2 million of start-up costs related to new product introductions, adjusted gross margin* was 40.2% in the second quarter of 2025. The year-over-year increase in gross profit margin was primarily due to higher volume, favorable foreign exchange rates, and cost reductions. The sequential increase in gross profit margin primarily reflected higher volume and favorable foreign exchange rates, which offset the impact of net tariff costs.
The Measurement Systems segment revenue of $19.2million in the second fiscal quarter of 2025 decreased 8.9% year-over-year from $21.0million in the second fiscal quarter of 2024 and was 5.1% higher than $18.2million in the first fiscal quarter of 2025. The year-over-year decrease was primarily attributable to decreased revenue in the Steel market, which offset higher sales in the Transportation and Avionics, Military and Space ("AMS") markets. Sequentially, the increase in revenue was primarily due to higher sales in the AMS market, which offset lower sales to the Transportation and Steel markets.
Gross profit margin for the Measurement Systems segment was 54.6%, compared to 52.4% in the second fiscal quarter of 2024, and 50.3% in the first fiscal quarter of 2025. The year-over-year increase in gross profit margin was primarily due to favorable product mix. The sequentially higher gross profit margin primarily reflected higher volume and favorable product mix.
Near-Term Outlook
“Given our backlog and the current market conditions, we expect net revenues to be in the range of $73 million to $81 million for the third fiscal quarter of 2025, at constant second fiscal quarter 2025 foreign currency exchange rates,” concluded Mr. Shoshani.
*Use of Non-GAAP Financial Information:
We define “adjusted gross profit margin” as gross profit margin before start-up costs. We define “adjusted operating margin” as operating margin before start-up costs, restructuring costs and severance costs. We define “adjusted net earnings” and “adjusted diluted net earnings per share” as net earnings attributable to VPG stockholders before start-up costs, restructuring costs and severance costs, foreign currency exchange gains and losses, and associated tax effects. We define “EBITDA” as earnings before interest, taxes, depreciation, and amortization. We define “Adjusted EBITDA” as earnings before interest, taxes, depreciation, and amortization, start-up costs, restructuring costs and severance costs, and foreign currency exchange gains and losses.
“Adjusted free cash flow” for the second fiscal quarter of 2025 is defined as the amount of cash generated from operating activities ($6.0million) in excess of capital expenditures ($1.3million), net of proceeds, if any, from the sale of assets ($0.0million).
Management believes that these non-GAAP measures are useful to investors because each presents what management views as our core operating results for the relevant period. The adjustments to the applicable GAAP measures relate to occurrences or events that are outside of our core operations, and management believes that the use of these non-GAAP measures provides a consistent basis to evaluate our operating profitability and performance trends across comparable periods. These reconciling items are indicated on the accompanying reconciliation schedules and are more fully described in VPG’s financial statements presented in our Annual Report on Form 10-K and Quarterly Reports on Forms 10-Q.
2
Conference Call and Webcast:
A conference call will be held on Tuesday, August 5, 2025 at 9:00 a.m. ET (8:00 a.m. CT). To access the conference call, interested parties may call 1-833-470-1428 or internationally +1-404-975-4839 and use passcode 010019, or log on to the investor relations page of the VPG website at ir.vpgsensors.com. A replay will be available approximately one hour after the completion of the call by calling toll-free 1-866-813-9403 or internationally 1-929-458-6194 and by using passcode 958597. The replay will also be available on the “Events” page of investor relations section of the VPG website at ir.vpgsensors.com.
About VPG:
Vishay Precision Group, Inc. (VPG) is a leader in precision measurement and sensing technologies. Our sensors, weighing solutions and measurement systems optimize and enhance our customers’ product performance across a broad array of markets to make our world safer, smarter, and more productive. To learn more, visit VPG at www.vpgsensors.com and follow us on LinkedIn.
Forward-Looking Statements:
From time to time, information provided by us, including, but not limited to, statements in this press release, or other statements made by or on our behalf, may contain or constitute “forward-looking”" information within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks, uncertainties, and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from those anticipated. Such statements are based on current expectations only, and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, expected, estimated, or projected. Among the factors that could cause actual results to materially differ include: general business and economic conditions; significant developments from the recent and potential changes in tariffs and trade regulation; impact of inflation; potential issues respecting the United States federal government debt ceiling; global labor and supply chain challenges; difficulties or delays in identifying, negotiating and completing acquisitions and integrating acquired companies; the inability to realize anticipated synergies and expansion possibilities; difficulties in new product development; changes in competition and technology in the markets that we serve and the mix of our products required to address these changes; changes in foreign currency exchange rates; political, economic, and health (including pandemics) instabilities; instability or disruption caused by military hostilities in the regions or countries in which we operate (including Israel); difficulties in implementing our cost reduction strategies, such as underutilization of production facilities, labor unrest or legal challenges to our lay-off or termination plans, operation of redundant facilities due to difficulties in transferring production to achieve efficiencies; compliance issues under applicable laws, such as export control laws, including the outcome of our voluntary self-disclosure of export control non-compliance; our ability to execute our corporate strategy and business continuity, operational and budget plans; and other factors affecting our operations, markets, products, services, and prices that are set forth in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024. We caution you not to place undue reliance on forward-looking statements, which speak only as of the date of this report or as of the dates otherwise indicated in such forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact:
Steve Cantor
Vishay Precision Group, Inc.
781-222-3516
info@vpgsensors.com
3
VISHAY PRECISION GROUP, INC.
Consolidated Condensed Statements of Operations
(Unaudited - In thousands, except per share amounts)
| Fiscal Quarter Ended | ||||||
|---|---|---|---|---|---|---|
| June 28, 2025 | June 29, 2024 | |||||
| Net revenues | $ | 75,161 | $ | 77,359 | ||
| Costs of products sold | 44,567 | 44,952 | ||||
| Gross profit | 30,594 | 32,407 | ||||
| Selling, general and administrative expenses | 27,701 | 26,501 | ||||
| Restructuring costs | 185 | — | ||||
| Operating income | 2,708 | **** | 5,906 | |||
| Other (expense) income : | ||||||
| Interest expense | (550 | ) | (649 | ) | ||
| Other | (1,262 | ) | 1,701 | |||
| Other (expense) income | (1,812 | ) | 1,052 | |||
| Income before taxes | 896 | **** | 6,958 | |||
| Income tax expense | 592 | 2,316 | ||||
| Net earnings | 304 | **** | 4,642 | |||
| Less: net earnings attributable to noncontrolling interests | 56 | **** | 39 | |||
| Net earnings attributable to VPG stockholders | $ | 248 | **** | $ | 4,603 | |
| Basic earnings per share attributable to VPG stockholders | $ | 0.02 | $ | 0.34 | ||
| Diluted earnings per share attributable to VPG stockholders | $ | 0.02 | $ | 0.34 | ||
| Weighted average shares outstanding - basic | 13,263 | 13,348 | ||||
| Weighted average shares outstanding - diluted | 13,309 | 13,389 |
4
VISHAY PRECISION GROUP, INC.
Consolidated Condensed Statements of Operations
(Unaudited - In thousands, except per share amounts)
| Six Fiscal Months Ended | ||||||
|---|---|---|---|---|---|---|
| June 28, 2025 | June 29, 2024 | |||||
| Net revenues | $ | 146,902 | $ | 158,142 | ||
| Costs of products sold | 89,262 | 90,641 | ||||
| Gross profit | 57,640 | 67,501 | ||||
| Selling, general and administrative expenses | 54,412 | 53,895 | ||||
| Restructuring costs | 580 | 782 | ||||
| Operating income | 2,648 | **** | 12,824 | |||
| Other (expense) income : | ||||||
| Interest expense | (1,101 | ) | (1,277 | ) | ||
| Other | (1,938 | ) | 3,561 | |||
| Other (expense) income | (3,039 | ) | 2,284 | |||
| (Loss) Income before taxes | (391 | ) | 15,108 | |||
| Income tax expense | 260 | **** | 4,634 | |||
| Net (loss) earnings | (651 | ) | 10,474 | |||
| Less: net earnings (loss) attributable to noncontrolling interests | 43 | **** | (20 | ) | ||
| Net (loss) earnings attributable to VPG stockholders | $ | (694 | ) | $ | 10,494 | |
| Basic (loss) earnings per share attributable to VPG stockholders | $ | (0.05 | ) | $ | 0.78 | |
| Diluted (loss) earnings per share attributable to VPG stockholders | $ | (0.05 | ) | $ | 0.78 | |
| Weighted average shares outstanding - basic | 13,259 | 13,376 | ||||
| Weighted average shares outstanding - diluted | 13,259 | 13,428 |
5
VISHAY PRECISION GROUP, INC.
Consolidated Condensed Balance Sheets
(In thousands)
| June 28, 2025 | December 31, 2024 | |||||
|---|---|---|---|---|---|---|
| (Unaudited) | ||||||
| Assets | **** | **** | ||||
| Current assets: | ||||||
| Cash and cash equivalents | $ | 90,375 | $ | 79,272 | ||
| Accounts receivable, net | 51,985 | 51,200 | ||||
| Inventories: | ||||||
| Raw materials | 32,279 | 33,013 | ||||
| Work in process | 30,730 | 27,187 | ||||
| Finished goods | 23,320 | 23,960 | ||||
| Inventories, net | 86,329 | 84,160 | ||||
| Prepaid expenses and other current assets | 18,953 | 17,088 | ||||
| Assets held for sale | 5,229 | 5,229 | ||||
| Total current assets | 252,871 | 236,949 | ||||
| Property and equipment: | ||||||
| Land | 2,412 | 2,316 | ||||
| Buildings and improvements | 78,570 | 68,125 | ||||
| Machinery and equipment | 136,575 | 132,938 | ||||
| Software | 10,858 | 10,351 | ||||
| Construction in progress | 2,335 | 11,246 | ||||
| Accumulated depreciation | (153,411 | ) | (145,475 | ) | ||
| Property and equipment, net | 77,339 | 79,501 | ||||
| Goodwill | 47,376 | 46,819 | ||||
| Intangible assets, net | 40,194 | 41,815 | ||||
| Operating lease right-of-use assets | 23,113 | 24,316 | ||||
| Other assets | 24,661 | 21,535 | ||||
| Total assets | $ | 465,554 | $ | 450,935 |
6
VISHAY PRECISION GROUP, INC.
Consolidated Condensed Balance Sheets
(In thousands)
| June 28, 2025 | December 31, 2024 | |||||
|---|---|---|---|---|---|---|
| (Unaudited) | ||||||
| Liabilities and equity | **** | **** | ||||
| Current liabilities: | ||||||
| Trade accounts payable | $ | 10,344 | $ | 9,890 | ||
| Payroll and related expenses | 19,715 | 18,546 | ||||
| Other accrued expenses | 23,481 | 19,725 | ||||
| Income taxes | 247 | 880 | ||||
| Current portion of operating lease liabilities | 4,321 | 3,998 | ||||
| Total current liabilities | 58,108 | 53,039 | ||||
| Long-term debt | 31,526 | 31,441 | ||||
| Deferred income taxes | 3,868 | 3,779 | ||||
| Operating lease liabilities | 19,212 | 19,928 | ||||
| Other liabilities | 14,879 | 14,193 | ||||
| Accrued pension and other postretirement costs | 6,706 | 6,695 | ||||
| Total liabilities | 134,299 | 129,075 | ||||
| Equity: | ||||||
| Common stock | 1,339 | 1,336 | ||||
| Class B convertible common stock | 103 | 103 | ||||
| Treasury stock | (25,335 | ) | (25,335 | ) | ||
| Capital in excess of par value | 203,537 | 202,783 | ||||
| Retained earnings | 191,283 | 191,977 | ||||
| Accumulated other comprehensive loss | (39,716 | ) | (48,897 | ) | ||
| Total Vishay Precision Group, Inc. stockholders' equity | 331,211 | 321,967 | ||||
| Noncontrolling interests | 44 | (107 | ) | |||
| Total equity | 331,255 | 321,860 | ||||
| Total liabilities and equity | $ | 465,554 | $ | 450,935 |
7
VISHAY PRECISION GROUP, INC.
Consolidated Condensed Statements of Cash Flows
(Unaudited - In thousands)
| Six Fiscal Months Ended | ||||||
|---|---|---|---|---|---|---|
| June 28, 2025 | June 29, 2024 | |||||
| Operating activities | **** | **** | ||||
| Net (loss) earnings | $ | (651 | ) | $ | 10,474 | |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | ||||||
| Depreciation and amortization | 7,889 | 7,859 | ||||
| Loss (gain) on sale of property and equipment | 33 | (155 | ) | |||
| Share-based compensation expense | 1,057 | 953 | ||||
| Inventory write-offs for obsolescence | 1,649 | 1,163 | ||||
| Deferred income taxes | (881 | ) | 483 | |||
| Foreign currency impacts and other items | 397 | (3,602 | ) | |||
| Net changes in operating assets and liabilities: | ||||||
| Accounts receivable | 1,614 | 4,925 | ||||
| Inventories | (1,525 | ) | (4,155 | ) | ||
| Prepaid expenses and other current assets | (1,214 | ) | (2,733 | ) | ||
| Trade accounts payable | 329 | **** | 1,081 | |||
| Other current liabilities | 3,294 | (1,293 | ) | |||
| Other non-current assets and liabilities, net | (1,012 | ) | (841 | ) | ||
| Accrued pension and other postretirement costs, net | 232 | (289 | ) | |||
| Net cash provided by operating activities | 11,211 | 13,870 | ||||
| Investing activities | **** | **** | ||||
| Capital expenditures | (2,760 | ) | (5,178 | ) | ||
| Proceeds from sale of property and equipment | 20 | 347 | ||||
| Net cash used in investing activities | (2,740 | ) | (4,831 | ) | ||
| Financing activities | **** | **** | ||||
| Purchase of treasury stock | — | (5,887 | ) | |||
| Distributions to noncontrolling interests | 108 | (40 | ) | |||
| Payments of employee taxes on certain share-based arrangements | (256 | ) | (854 | ) | ||
| Net cash used in financing activities | (148 | ) | (6,781 | ) | ||
| Effect of exchange rate changes on cash and cash equivalents | 2,780 | (2,095 | ) | |||
| Increase in cash and cash equivalents | 11,103 | 163 | ||||
| Cash and cash equivalents at beginning of period | 79,272 | 83,965 | ||||
| Cash and cash equivalents at end of period | $ | 90,375 | $ | 84,128 | ||
| Supplemental disclosure of investing transactions: | **** | **** | ||||
| Capital expenditures accrued but not yet paid | $ | 732 | $ | 972 | ||
| Supplemental disclosure of financing transactions: | **** | **** | ||||
| Excise tax on net share repurchases accrued but not yet paid | — | 41 |
8
VISHAY PRECISION GROUP, INC.
Reconciliation of Consolidated Adjusted Gross Profit, Operating Income, Net Earnings Attributable to VPG Stockholders and Diluted Earnings Per Share
(Unaudited - In thousands)
| Gross Profit | Operating Income | Net Earnings Attributable to VPG Stockholders | Diluted Earnings Per share | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Three months ended | June 28, 2025 | June 29, 2024 | June 28, 2025 | June 29, 2024 | June 28, 2025 | June 29, 2024 | June 28, 2025 | June 29, 2024 | ||||||||||||||||
| As reported - GAAP | $ | 30,594 | $ | 32,407 | $ | 2,708 | **** | $ | 5,906 | $ | 248 | **** | $ | 4,603 | $ | 0.02 | $ | 0.34 | ||||||
| As reported - GAAP Margins | 40.7 | % | 41.9 | % | 3.6 | % | 7.6 | % | — | % | ****** | **** | ||||||||||||
| Start-up costs | 257 | — | 257 | — | 257 | — | 0.02 | — | ||||||||||||||||
| Restructuring costs | — | — | 185 | — | 185 | — | 0.02 | — | ||||||||||||||||
| Severance cost | — | — | 443 | — | 443 | — | 0.03 | — | ||||||||||||||||
| Foreign currency exchange loss (gain) | — | — | — | — | 1,763 | (1,289 | ) | 0.13 | (0.10 | ) | ||||||||||||||
| Less: Tax effect of reconciling items and discrete tax items | — | — | — | — | 624 | (836 | ) | 0.05 | (0.06 | ) | ||||||||||||||
| As Adjusted - Non GAAP | $ | 30,851 | $ | 32,407 | $ | 3,593 | $ | 5,906 | $ | 2,272 | **** | $ | 4,150 | $ | 0.17 | $ | 0.31 | |||||||
| As Adjusted - Non GAAP Margins | 41.0 | % | 41.9 | % | 4.8 | % | 7.6 | % | ||||||||||||||||
| Gross Profit | Operating Income | Net (Loss) Earnings Attributable to VPG Stockholders | Diluted Earnings Per share | |||||||||||||||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Six Fiscal Months Ended | June 28, 2025 | June 29, 2024 | June 28, 2025 | June 29, 2024 | June 28, 2025 | June 29, 2024 | June 28, 2025 | June 29, 2024 | ||||||||||||||||
| As reported - GAAP | $ | 57,640 | $ | 67,501 | $ | 2,648 | **** | $ | 12,824 | $ | (694 | ) | $ | 10,494 | $ | (0.05 | ) | $ | 0.78 | |||||
| As reported - GAAP Margins | 39.2 | % | 42.7 | % | 1.8 | % | 8.1 | % | ||||||||||||||||
| Start-up costs | 720 | — | 720 | — | 720 | — | 0.06 | — | ||||||||||||||||
| Restructuring costs | — | — | 580 | 782 | 580 | 782 | 0.04 | 0.06 | ||||||||||||||||
| Severance cost | — | — | 443 | 347 | 443 | 347 | 0.03 | 0.03 | ||||||||||||||||
| Foreign currency exchange loss (gain) | — | — | — | — | 2,735 | (2,878 | ) | 0.21 | (0.21 | ) | ||||||||||||||
| Less: Tax effect of reconciling items and discrete tax items | — | — | — | — | 1,044 | (1,074 | ) | 0.08 | (0.08 | ) | ||||||||||||||
| As Adjusted - Non GAAP | $ | 58,360 | $ | 67,501 | $ | 4,391 | $ | 13,953 | $ | 2,740 | $ | 9,819 | $ | 0.21 | $ | 0.73 | ||||||||
| As Adjusted - Non GAAP Margins | 39.2 | % | 42.7 | % | 2.2 | % | 8.8 | % |
9
VISHAY PRECISION GROUP, INC.
Reconciliation of Adjusted Gross Profit by segment
(Unaudited - In thousands)
| Fiscal Quarter Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| June 28, 2025 | June 29, 2024 | March 29, 2025 | |||||||
| Sensors | **** | **** | **** | ||||||
| Net revenues | $ | 26,563 | $ | ****28,869 | $ | ****27,056 | |||
| As reported - GAAP | $ | 8,487 | $ | ****11,066 | $ | **** 8,147 | |||
| As reported - GAAP Margins | 32.0 | % | 38.3 | % | 30.1 | % | |||
| Start-up costs | 79 | — | **** 187 | ||||||
| As Adjusted - Non GAAP | $ | 8,566 | $ | ****11,066 | $ | **** 8,334 | |||
| As Adjusted - Non GAAP Margins | 32.2 | % | 38.3 | % | 30.8 | % | |||
| Weighing Solutions | **** | **** | **** | ||||||
| Net revenues | $ | 29,428 | **** | $ | ****27,447 | $ | ****26,438 | ||
| As reported - GAAP | $ | 11,646 | $ | ****10,310 | $ | **** 9,717 | |||
| As reported - GAAP Margins | 39.6 | % | 37.6 | % | 36.8 | % | |||
| Start-up costs | 178 | — | 276 | ||||||
| As Adjusted - Non GAAP | $ | 11,825 | **** | $ | ****10,310 | $ | **** 9,993 | ||
| As Adjusted - Non GAAP Margins | 40.2 | % | 37.6 | % | 37.8 | % | |||
| Measurement Systems | **** | **** | **** | ||||||
| Net revenues | $ | 19,170 | $ | ****21,043 | $ | ****18,246 | |||
| As reported - GAAP | $ | 10,461 | $ | ****11,031 | $ | **** 9,182 | |||
| As reported - GAAP Margins | 54.6 | % | 52.4 | % | 50.3 | % | |||
| As Adjusted - Non GAAP | $ | 10,461 | **** | $ | ****11,031 | $ | **** 9,182 | ||
| As Adjusted - Non GAAP Margins | 54.6 | % | 52.4 | % | 50.3 | % |
VISHAY PRECISION GROUP, INC.
Reconciliation of Adjusted EBITDA
(Unaudited - In thousands)
| Fiscal Quarter Ended | |||
|---|---|---|---|
| June 28, 2025 | June 29, 2024 | March 29, 2025 | |
| Net earnings (loss) earnings attributable to VPG stockholders | $248 | $ 4,603 | $ (942) |
| Interest Expense | 550 | 649 | 550 |
| Income tax (benefit) expense | 592 | 2,316 | (332) |
| Depreciation | 2,872 | 2,992 | 3,056 |
| Amortization | 982 | 924 | 979 |
| EBITDA | 5,244 | 11,484 | 3,311 |
| EBITDA MARGIN | 7.0% | 14.8% | 4.6% |
| Restructuring costs | 185 | — | 395 |
| Severance cost | 443 | — | — |
| Start-up costs | 257 | — | 463 |
| Foreign currency exchange loss (gain) | 1,763 | (1,289) | 972 |
| ADJUSTED EBITDA | $ 7,892 | $ 10,196 | $ 5,141 |
| ADJUSTED EBITDA MARGIN | 10.5% | 13.2% | 7.2% |
10