Producer of precision sensors and systems Vishay Precision Group announced its results for its second quarter fiscal 2015 and six months ended June 27, 2015.
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Net revenues for the second quarter of 2015 were $59.5 million, representing an 8.7% decrease from $65.2 million of net revenues for the comparable prior year period.
Net revenues for the six months ended June 27, 2015 were $116.1 million, representing an 8.1% decrease from the $126.4 million of net revenues for comparable prior year period.
Comparing sequential results, net revenues for the second quarter of 2015 increased by $2.9 million, or 5.1%, from $56.6 million in the first quarter of 2015.
Net earnings attributable to VPG stockholders for the second quarter of 2015 were $1.5 million, or $0.11 per diluted share, compared to net earnings attributable to VPG stockholders for the second quarter of 2014 of $3.6 million, or $0.26 per diluted share.
Foreign currency exchange rates for the second quarter of 2015 as compared to the prior year period had a negative impact on net income of $0.4 million, or $0.03 per diluted share.
Net earnings attributable to VPG stockholders for the six months ended June 27, 2015 were $2.3 million, or $0.17 per diluted share, compared to net earnings attributable to VPG stockholders of $4.8 million, or $0.34 per diluted share for the comparable prior year period.
Foreign currency exchange rates for the six months of 2015 as compared to the prior year period had a negative impact on net income of $0.8 million, or $0.06 per diluted share.
Adjusted net earnings attributable to VPG stockholders for the second quarter of 2015 were $1.8 million, or $0.13 per diluted share, versus adjusted net earnings attributable to VPG stockholders of $3.6 million, or $0.26 per diluted share for the comparable prior year period.
Net earnings attributable to VPG stockholders for the second quarter of 2015 include $0.03 million of KELK acquisition purchase accounting adjustments (which impacted costs of products sold), $0.3 million of restructuring costs, and $0.04 million of associated tax effects.
Adjusted net earnings attributable to VPG stockholders for the six months ended June 27, 2015 were $2.7 million, or $0.19 per diluted share, versus adjusted net earnings attributable to VPG stockholders of $5 million, or $0.36 per diluted share for the comparable prior year period.
Net earnings attributable to VPG stockholders for the six months ended June 27, 2015 include $0.03 million of KELK acquisition purchase accounting adjustments (which impacted cost of products sold), $0.4 million of restructuring costs, and $0.06 million of associated tax effects, versus $0.4 million of KELK acquisition purchase accounting adjustments and restructuring costs, and $0.1 million of associated tax effects for the comparable prior year period. ■