Vishay net income rises, but revenue misses

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SAN FRANCISCO (AP) — Vishay Intertechnology Inc. shares fell 3 percent Tuesday after maker of semiconductors and components for electronics missed Wall Street’s revenue forecast and offered tepid guidance for the current quarter.

Net income was $82.1 million, or 48 cents per share, in the fiscal quarter ended July 3, versus $76.7 million, or 40 cents per share a year ago.

Excluding expenses related to a tax issue and the death of the Malvern, Pa.-based company’s founder and executive chairman, Felix Zandman, the company would have earned 50 cents per share. On that basis, the earnings were in line with analyst estimates.

Revenue rose 1 percent to $709.8 million, from $701.7 million the year before. That was short of estimates of $717.5 million.

For the current quarter, the company expects revenue of $675 million and $715 million. Analysts had expected $713.3 million, according to FactSet.

Shares fell 42 cents, or 3.1 percent, to $13.26.