Vishay Precision Group, Inc. Updates First Quarter 2015 Revenue Guidance & Announces Its Fiscal 2015 First Quarter Conference...
April 14 2015 - 8:14AM
Business Wire
Vishay Precision Group, Inc. (NYSE: VPG), a leading producer of
precision sensors and systems, today updated its first quarter
revenue guidance for the three months ended March 28, 2015.
The company previously provided first quarter 2015 net revenue
guidance in the range of $59 million to $64 million. The company
expects to report first quarter 2015 net revenues of approximately
$57 million. The net revenues in the quarter were significantly
impacted by foreign exchange rate effects, which were greater than
previously forecast, and, to a lesser extent, a drop in volume due
to macroeconomic conditions.
Earnings Release Date, Conference Call and Webcast
VPG will release results for its Fiscal 2015 first quarter
results at approximately 8:00 a.m. EDT (7:00 a.m. CDT) on May 5,
2015.
A conference call will be held May 5, 2015 at 10:00 a.m. EDT
(9:00 a.m. CDT). To access the conference call, interested parties
may call 1-888-317-6003 or internationally 1-412-317-6061 and use
passcode 1260722, or log on to the investor relations page of the
VPG website at www.vpgsensors.com.
A replay will be available approximately one hour after the
completion of the call by calling toll-free 1-877-344-7529 or
internationally 1-412-317-0088 and by using the passcode: 10063601.
The replay will also be available on the investor relations page of
the VPG website at www.vpgsensors.com for a limited time.
About VPG
Vishay Precision Group, Inc. (VPG) is an internationally
recognized designer, manufacturer and marketer of: components based
on its resistive foil technology; sensors; and sensor-based systems
specializing in the growing markets of stress, force, weight,
pressure, and current measurements. VPG is a market leader of Foil
Technology Products, providing ongoing technology innovations in
precision foil resistors and foil strain gages, which are the
foundation of the company's Force Sensors products and its Weighing
and Control Systems. The product portfolio consists of a variety of
well-established brand names recognized for precision and quality
in the marketplace. To learn more, visit VPG at
www.vpgsensors.com.
Forward-Looking Statements
From time to time, information provided by us, including but not
limited to statements in this report, or other statements made by
or on our behalf, may contain "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, changes in the current pace of economic recovery,
including if such recovery stalls or does not continue as expected;
difficulties or delays in completing acquisitions and integrating
acquired companies, including KELK, 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;
difficulties in implementing our ERP system and the associated
impact on manufacturing efficiencies and customer satisfaction;
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 lower-labor-cost countries; 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, 2014. We undertake no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events, or otherwise.
VPGWendy WilsonSenior Director Investor Relations and Corporate
Communications919-374-5501wendy.wilson@vpgsensors.com
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