Vishay cuts 3Q revenue guidance

EE Times
(10/16/2008 11:36 H EDT)


SAN FRANCISO—Vishay Intertechnology Inc. Thursday (Oct. 16) trimmed guidance for the quarter ended Sept. 27, saying it now expects revenue of $736 million to $742 million and gross margins of 21.4 to 21.8 percent.
Vishay (Malvern, Pa.) had previously said it expected revenue of $750 million to $770 million and gross margins of about 23.2 percent.

Revenues in the third quarter declined due to a worldwide worsening of end market conditions, which accelerated in September, Vishay said. Apart from the drop in sales, gross margins were also impacted by production inefficiencies caused by the reduction in volume for some of the company's businesses, Vishay said.

Vishay said it expects to record additional impairment charges in the third quarter and that the amount of these impairment charges could be significant. Vishay said it would perform additional impairment tests on its goodwill and other long-lived assets as of the end of the third quarter, due to deteriorating stock market conditions.

Vishay is scheduled to release its third quarter results prior to the opening of the New York Stock Exchange on Oct. 28.




Last News：Nokia set to pay Qualcomm $2.3bn in patent deal
Next News：NXP Technology seeks to reduce carbon emissions