Malvern, PA, United States

Vishay Precision Group

www.vishaypg.com
Malvern, PA, United States
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News Article | May 18, 2017
Site: www.businesswire.com

MALVERN, Pa.--(BUSINESS WIRE)--Vishay Precision Group, Inc. (NYSE: VPG), a leading producer of precision sensors and measurement systems, today announced that it will host a webcast allowing interested parties to listen to its 2017 Annual Meeting of Shareholders to be held on May 25, 2017 beginning at 9:00 a.m. ET. The Annual Meeting will be held at The Desmond Hotel, One Liberty Boulevard, Malvern, Pa. Vishay Precision Group’s 2016 Annual Report and its 2017 Proxy Statement may be downloaded from the investor page of its website at www.vpgsensors.com. Interested parties are invited to access the annual meeting, via telephone, in listen-only mode, toll free at 1-877-513-4180 or internationally at 1-412-902-4149. 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, using the conference number: 10105690. The replay will also be available for a limited time on the investor relations page of the VPG website at www.vpgsensors.com. Vishay Precision Group, Inc. is an internationally recognized designer, manufacturer and marketer of: components based on its resistive foil technology; sensors; and sensor-based measurement 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.


News Article | May 9, 2017
Site: www.businesswire.com

MALVERN, Pa.--(BUSINESS WIRE)--Vishay Precision Group, Inc. (NYSE: VPG), a leading producer of precision sensors and systems, today announced its results for its fiscal 2017 first quarter. Ziv Shoshani, chief executive officer of VPG, commented, “We are encouraged by a solid first quarter with all segments contributing to year-over-year and sequential revenue growth. We are pleased to see indications of an improved business environment in a number of our key end markets – including test and measurement, avionics, military and space, and steel – as reflected in a positive book-to-bill of 1.06 at the end of the first quarter. Our ongoing restructuring is driving profitability and cash flow improvements and we will continue to work to capture efficiency opportunities, better serve our customers and enhance our financial performance. We have begun 2017 well and, as we progress through the year, we believe we have an excellent opportunity to leverage our end market growth and drive value to our shareholders.” First quarter 2017 net earnings attributable to VPG stockholders grew to $2.0 million, or $0.15 per diluted share, compared to $0.5 million, or $0.04 per diluted share, in the first fiscal quarter of 2016. Foreign currency exchange rates for the first quarter of 2017, as compared to the prior year period, had a negative impact on net income of $0.9 million, or $0.07 per diluted share. First quarter 2017 adjusted net earnings attributable to VPG stockholders grew by 48.2% to $2.5 million, or $0.19 per diluted share, compared to adjusted net earnings attributable to VPG stockholders of $1.7 million, or $0.13 per diluted share, for the comparable prior year period. The reconciliation table within this release reconciles the Company's non-GAAP measures, which are provided for comparison with other results, and the most directly comparable U.S. GAAP measures. Foil Technology Products segment revenues grew 5.5% to $27.8 million in the first quarter of 2017, up from $26.3 million in the first quarter of 2016; sequential growth was 9.3% up from $25.4 million in the fourth quarter of 2016. The year-over-year increase in revenues was attributable to higher volume of $1.7 million, of which $1.1 million is attributable to Pacific Instruments, acquired on April 6, 2016; sequential growth was due to higher volume mainly in precision resistors in the test and measurement market. Gross profit margin for the segment was 41.4% for the first quarter of 2017 compared to 42.3% in the first quarter of 2016 and 40.6% in the fourth quarter of 2016 (40.8% excluding the Pacific acquisition purchase accounting adjustment of $0.1 million). The gross profit margin for the quarter was down compared to the prior year due to a negative exchange rate impact and inventory reduction, partially offset by an increase in volume. The sequential gross profit margin increase is mainly due to the increase in volume. Force Sensors segment revenues increased 4.3% to $15.5 million in the first quarter of 2017, up from $14.8 million in the first quarter of 2016; sequential growth was 4.7% up from $14.8 million in the fourth quarter of 2016. The year-over-year increase in revenues was attributable to higher volumes with OEM customers in the precision agriculture and construction end markets, offset by a negative exchange rate. The increase in sequential revenues was attributable to higher volumes with OEM customers in the construction end market. Gross profit margin in the first quarter increased to 23.9% from 18.4% in the first quarter of 2016, primarily as a result of higher volumes and successful cost reduction programs. The slight sequential reduction from 25.3% in the fourth quarter of 2016 was due to production ramp up and related manufacturing costs. Weighing and Control Systems segment revenues grew by 7.0% to $16.6 million in the first quarter of 2017, up from $15.5 million in the first quarter of 2016; sequential growth was 5.9% up from $15.6 million in the fourth quarter of 2016. The increase in year-over-year revenues was attributable to higher volumes primarily in the steel end market, partially offset by a negative exchange rate. The sequential increase in revenues was attributable to an increase in volume in the on-board weighing product line. First quarter 2017 gross profit margin increased to 44.3% from the first quarter of 2016 of 38.3% (40.2% excluding the Stress-Tek acquisition purchase accounting adjustment of $0.3 million). This improvement was the result of higher volume and a favorable product mix. The gross profit margin reduction from 46.5% reported in the fourth quarter of 2016 is attributable to a volume increase offset by an unfavorable product mix and, to a lesser extent, a reduction in inventory. “In light of an improved business environment and at constant first quarter 2017 exchange rates, we expect net revenues in the range of $58 million to $63 million for the second quarter of 2017,” concluded Mr. Shoshani. *Use of Non-GAAP Financial Information We define “adjusted net earnings” as net earnings attributable to VPG stockholders before acquisition purchase accounting adjustments, restructuring costs and associated tax effects. “Free cash flow” is defined as the amount of cash generated from operations ($2.9 million for the first quarter of 2017), in excess of our capital expenditures ($2.0 million for the first quarter of 2017) net of proceeds, if any, for the sale of assets ($0.2 million in the first quarter of 2017). For a reconciliation of GAAP to non-GAAP financial information, refer to the quarterly financial tables. A conference call will be held today (May 9) at 10:00 a.m. ET (9:00 a.m. CT). To access the conference call, interested parties may call 1-888-317-6003 or internationally 1-412-317-6061 and use passcode 5120580, 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: 10104995. The replay will also be available on the investor relations page of the VPG website at www.vpgsensors.com for a limited time. 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. 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; difficulties or delays in completing acquisitions and integrating acquired companies (including the acquisitions of Stress-Tek and Pacific Instruments); 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 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; 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, 2016. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.


LONDON, May 11, 2017 /PRNewswire/ -- Global Load Cell Market: Overview Rising demand for load cells in healthcare sector is expected to increase demand for load cells. Medical devices and equipment including dialysis machines (in-center and in house hemodialysis), infusion pumps and surgical instruments among others are increasing the demand for load cells. The growth of hemodialysis machines including home hemodialysis (HHD) is driven by growing patient population, replacement of existing HHD machines among others. Rising demand for HHD machines (which serves only a single patient) will increase demand for load cells. The growth of infusion pumps will be driven by increasing occurrence of chronic diseases, geriatric population and rising surgical procedures. Download the full report: https://www.reportbuyer.com/product/4895308/ There is a growing demand for load cells in testing applications across aviation and aerospace industry. Load cells are used in design and testing during initial design, pre-flight and in-flight stages. In the design phase, standard load cells are used for aircraft component-testing such as cockpit instruments, aircraft flaps, seat belts among others. In the pre-flight stage dual bridge load cells test the frame structure. In the in-flight stage, load cells monitor forces acting on airframe, pilot's touch on control stick and aircraft flight control system. Rising demand for load cells in upstream, midstream and downstream activities are increasing the demand for load cells. Load cells are used in the construction of oil rigs. Rising demand for oil rigs will increase the demand for load cells. New, high specification and harsh environment oil rigs, replacement of old rigs, and interest of private equity to purchase oil rigs is expected to push the number for oil rigs which will positively impact the demand for load cells. Rising demand for oil rigs from shale gas producers in the U.S. is expected to increase demand for load cells. Global Load Cell Market: Segmentation By end use industries the load cell market is segmented into healthcare, agriculture equipment, oil & gas, aerospace & defense, automotive, bulk material handling, retail and others. Based on type, the market is segmented into single-point, s-type, shear beam and others. By technology the market is segmented into analog load cells and digital load cells. Analog load cells are the majority of load cells found in the market and command a market share of more than 80%. Geographically, the global load cell market is segmented into Asia Pacific, Middle East & Africa (MEA), Latin America, Europe and North America. The market for load cell has been provided in (USD million) in terms of revenue as well as the CAGR for the forecast period of 2016 to 2024. The report also provides assessment of different drivers that is impacting the global market, along with the restraints and opportunities that has also been covered under the scope of this report. All these factors helps in determining different trends that has been impacting the overall market growth. Moreover, after taking into consideration all this factors, an extensive analysis of the region wise growth parameters of load cell market along with the overall assessment for the forecast period of 2016-2024 has been also been provided within this report. Global Load Cell Market: Competitive Analysis The key players in the load cell market have been competitively profiled across the five broad geographic regions. This competitive landscape is inclusive of the various business strategies adopted by these major players and their recent developments in the field of load cells. Further, the report includes the market attractiveness analysis of different types, technology on of load cell and insight into the major application area of the load cells. Some of the leading players operating in the market are Honeywell International Inc. (the U.S.), Vishay Precision Group (VPG) (the U.S.), Flintec Group AB (the U.K.), OMEGA Engineering Inc. (the U.S.), FUTEK Advanced Sensor Technology (the U.S.), Zhonghang Electronic Measuring Instruments Co., Ltd. (ZEMIC) (China), Hottinger Baldwin Messtechnik GmbH (HBM) (Germany), Novatech Measurements Ltd. (the U.K.), Yamato Scale Co. Ltd (Japan), Thames Side Sensors Ltd. (the U.K.), Mettler Toledo International Inc. (the U.S.), Precia Molen (France) among others. The global load cell market has been segmented as follows: By Technology Analog Load Cells Digital Load Cells By Type Single-Point S-Type Shear Beam Others By End-use Industries Healthcare Agriculture Equipment Oil & Gas Aerospace & Defense Automotive Bulk Material Handling Retail Others By Region North America The U.S. Canada Mexico Europe U.K Germany France Italy Rest of Europe Asia Pacific Japan China South Korea India Rest of Asia Pacific Middle East and Africa (MEA) United Arab Emirates Saudi Arabia South Africa Rest of MEA Latin America Brazil Download the full report: https://www.reportbuyer.com/product/4895308/ About Reportbuyer Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers http://www.reportbuyer.com For more information: Sarah Smith Research Advisor at Reportbuyer.com Email: query@reportbuyer.com Tel: +44 208 816 85 48 Website: www.reportbuyer.com To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/load-cell-market---global-industry-analysis-size-share-growth-trends-and-forecast-2016---2024-300456365.html


Patent
Vishay Precision Group | Date: 2010-07-28

A methodology for selecting and properly placing foil strain gages on a transducer in a Wheatstone bridge, which provides a more consistent creep response, especially when the transducer temperature is changed. A transducer includes a counterforce subjected to a predetermined physical load that provides tension and compression strains (positive and negative, respectively). The transducer also includes a plurality of strain gage grids that are operatively attached to the counterforce in the tension and compression strain areas of the counterforce and generate electrical signals. The plurality of strain gages are electrically connected in a Wheatstone bridge circuit where their electrical signals due to creep are cancelled.


Patent
Vishay Precision Group | Date: 2014-01-03

An electrical resistance strain gage includes a uniformly distributed electrical resistance of the active measuring area and a discrete electrical trim resistance within an active measuring are. The trim resistance may include an electrical conductor in an electrically parallel circuit such that the electrical conductor may be selectively electrically removed from the strain gage to trim the electrical resistance of the strain gage. The trim resistance does not modify the active strain sensing area or uniform grid length.


MALVERN, Pa.--(BUSINESS WIRE)--VPG Foil Resistors, a Vishay Precision Group, Inc. (NYSE:VPG) product group, announced today that its Vishay Foil Resistors brand has introduced a new current sense resistor for the medical, energy, military and aerospace markets. The high-precision, surface-mount, four-terminal CSM3637F current sense resistor is an industry first due to its size in combination with an improved load-life stability of +/-0.02% at +70°C for 2,000 hours with a low TCR of +/-5 ppm/°C


VPG Transducers Introduces High-Reliability Load Pins with Best-in-Class Safe Overload Capacity Malvern, Pa – February 17, 2017 – The VPG Transducers business unit of Vishay Precision Group, Inc., global designers and manufacturers of standard and...


News Article | November 8, 2016
Site: www.businesswire.com

MALVERN, Pa.--(BUSINESS WIRE)--Vishay Precision Group, Inc. (NYSE: VPG), a leading producer of precision sensors and systems, today announced its results for its fiscal 2016 third quarter and nine months ended October 1, 2016. Highlights: Third quarter earnings per diluted share of $0.08. Adjusted earnings per diluted share of $0.21.* Cash generated from operations for the third quarter of 2016 was $6.3 million and free cash flow was $4.5 million.* Force Sensors segment achieved gross profit ma


News Article | February 21, 2017
Site: www.businesswire.com

MALVERN, Pa.--(BUSINESS WIRE)--Vishay Precision Group, Inc. (NYSE:VPG), a leading producer of precision sensors and systems, today announced its results for its fiscal 2016 fourth quarter and twelve months ended December 31, 2016. “Our adjusted earnings per diluted share performance was $0.26 for the fourth quarter of 2016 as compared to adjusted earnings per diluted share of $0.20 in the fourth quarter of 2015, in spite of softer sales this quarter compared to the fourth quarter of 2015,” said Ziv Shoshani, VPG chief executive officer. “We also generated cash from operations of $4.9 million, with free cash flow of $4.7 million, which reflects our restructuring and cost reduction programs.” Net earnings attributable to VPG stockholders for the fourth fiscal quarter of 2016 were $3.0 million, or $0.22 per diluted share, compared to a net loss attributable to VPG stockholders for the fourth fiscal quarter of 2015 of ($13.4) million, or ($1.02) per diluted share. Net earnings attributable to VPG stockholders for the fiscal twelve months ended December 31, 2016 were $6.4 million, or $0.48 per diluted share, compared to a net loss attributable to VPG stockholders of ($13.0) million, or ($0.96) per diluted share, for the comparable prior year period. The prior year results include a $12.4 million non-cash income tax charge recorded in the fourth quarter of 2015 related to a valuation allowance recorded against certain deferred tax assets and a $4.9 million non-cash write down for impairment of goodwill related to the steel business recorded in the third quarter of 2015. Adjusted net earnings attributable to VPG stockholders for the fourth fiscal quarter of 2016 were $3.4 million, or $0.26 per diluted share, compared to adjusted net earnings attributable to VPG stockholders of $2.7 million, or $0.20 per diluted share, for the comparable prior year period. Adjusted net earnings attributable to VPG stockholders for the fiscal twelve months ended December 31, 2016 were $9.9 million, or $0.74 per diluted share, compared to adjusted net earnings attributable to VPG stockholders of $7.7 million, or $0.57 per diluted share, for the comparable prior year period. Adjusted net earnings for the fiscal quarter and fiscal twelve months ended December 31, 2016 exclude, among other costs, $0.3 million and $1.3 million respectively, of costs associated with the Company’s evaluation of strategic alternatives. The evaluation process did not result in the adoption of any particular strategic alternative other than the Company’s continued execution of its business plan. It is not expected that the costs associated with the evaluation, which consisted principally of professional fees, will be continuing at this time. The following table reconciles the Company's non-U.S. GAAP measures included in the press release, which are provided for comparison with other results, and the most directly comparable U.S. GAAP measures: Included in the discrete tax items for the fiscal 2016 fourth quarter and twelve months ended December 31, 2016 is a $0.9 million tax benefit recorded related to a favorable fourth quarter 2016 settlement of an Israeli tax audit, offset by a series of correcting adjustments totaling $0.8 million to certain deferred tax accounts in various tax jurisdictions related to prior period balances. The Company recorded a $0.8 million gain on the sale of its property in Karmiel, Israel. The proceeds of $3.7 million were received in the fourth quarter of 2016. The Foil Technology Products segment revenues were $25.4 million in the fourth quarter of 2016, down 3.2% from $26.2 million in the fourth quarter of 2015, and up 6.5% from $23.9 million in the third quarter of 2016. Decreased year-over-year revenues were attributable to lower volume, partially offset by the additional volume from Pacific Instruments of $2.2 million. The increase in sequential revenues was attributable to higher volumes. The gross profit margin for the segment was 40.6% for the fourth quarter of 2016 (40.8% excluding the Pacific acquisition purchase accounting adjustment of $0.1 million) compared to 36.5% in the fourth quarter of 2015 and 36.2% in the third quarter of 2016 (36.4% excluding the Pacific acquisition purchase accounting adjustment of $0.1 million). The gross profit margin for the quarter increased from the comparable prior year period due to variable cost savings from operating efficiencies and the cost savings from our previously announced cost reduction programs, offset by a decrease in volume. The sequential gross profit margin increase is due to the increase in volume and variable cost savings from operating efficiencies. The Force Sensors segment revenues were $14.8 million in the fourth quarter of 2016, down 5.2% from $15.6 million in the fourth quarter of 2015, and down 3.0% from $15.2 million in the third quarter of 2016. The decrease in year-over-year revenues was attributable to lower volume and negative exchange rate impact of $0.3 million. The decrease in sequential revenues was also attributable to lower volumes and negative exchange rate impact of $0.1 million. The gross profit margin for the segment was 25.3% in the fourth quarter of 2016, compared to 20.2% in the fourth quarter of 2015 and 31.0% in the third quarter of 2016. The gross profit margin for the quarter increased from the comparable prior year period primarily due to variable cost savings from operating efficiencies and the cost savings from our previously announced cost reduction programs. The sequential gross profit margin decrease was due to the decrease in volume, product mix and a reduction in inventory. The Weighing and Control Systems segment revenues were $15.6 million in the fourth quarter of 2016, down 8.5% from $17.1 million in the fourth quarter of 2015, and up 1.5% from $15.4 million in the third quarter of 2016. Decreased year-over-year revenues were attributable to a negative exchange rate impact of $0.7 million and a decrease in volume, offset by the impact of additional volume from the acquisition of Stress-Tek of $1.9 million. The sequential increase in revenues was primarily attributable to an increase in volume, despite the negative exchange rate impact of $0.4 million. The gross profit margin for the segment was 46.5% in the fourth quarter of 2016 compared to 47.0% in the fourth quarter of 2015 (47.8% excluding the Kelk acquisition purchase accounting adjustment of $0.2 million) and 44.9% in the third quarter of 2016. The decline in the gross profit margin for the quarter compared to the prior year period was due to the decline in volume. The sequential gross profit margin increase was due to volume and product mix. “In light of global economic conditions and at a constant fourth quarter 2016 exchange rates, we expect net revenues in the range of $55 million to $60 million for the first quarter of 2017,” concluded Mr. Shoshani. We define “adjusted net earnings” as net earnings attributable to VPG stockholders before acquisition purchase accounting adjustments, restructuring costs, strategic alternative evaluation costs, gain on sale of building, impairment of goodwill and indefinite-lived intangibles and associated tax effects. “Free cash flow” is defined as the amount of cash generated from operations ($4.9 million for the fourth quarter of 2016), in excess of our capital expenditures ($4.1 million for the fourth quarter of 2016) net of proceeds, if any, for the sale of assets ($3.9 million in the fourth quarter of 2016). For a reconciliation of GAAP to non-GAAP financial information, refer to the quarterly financial tables. A conference call will be held today (February 21) at 10:00 a.m. ET (9:00 a.m. CT). To access the conference call, interested parties may call 1-888-317-6003 or internationally 1-412-317-6061 and use passcode 8102218, 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: 10098939. The replay will also be available on the investor relations page of the VPG website at www.vpgsensors.com for a limited time. 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. 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; difficulties or delays in completing acquisitions and integrating acquired companies (including the acquisitions of Stress-Tek and Pacific Instruments); 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-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, 2015. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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