UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
| Date of Report (date of earliest event reported) |
|
|
|
|
(Exact name of registrant as specified in its charter)
|
|
|
|
|
|
(State or Other Jurisdiction of Incorporation)
|
(Commission File Number)
|
(I.R.S. Employer Identification Number)
|
|
|
|
|
(Address of Principal Executive Offices)
|
Zip Code
|
|
Registrant's telephone number, including area code
|
|
|
(Former name or former address, if changed since last report.)
|
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
|
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
(§240.12b-2 of this chapter).
|
|
Emerging growth company
|
|
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to
Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
|
Title of each class
|
Trading symbol
|
Name of exchange on which registered
|
|
|
|
|
Item 2.02 – Results of Operations and Financial Condition
On October 14, 2020, Vishay Intertechnology, Inc. issued a press release updating its outlook for the fiscal quarter ended October 3, 2020. A copy of the press release is attached as Exhibit 99.1 to this report.
Item 9.01 – Financial Statements and Exhibits
(d) Exhibits
|
Exhibit No.
|
Description
|
||
| 104 |
Cover Page Interactive Data File (embedded within the Inline XBRL document). | ||
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
Date: October 14, 2020
|
|
VISHAY INTERTECHNOLOGY, INC.
|
|
|
By:
|
/s/ Lori Lipcaman
|
|
|
|
Name:
|
Lori Lipcaman
|
|
|
|
Title:
|
Executive Vice President and
|
|
|
|
|
Chief Financial Officer
|
|
Exhibit 99.1
VISHAY INTERTECHNOLOGY UPDATES THIRD QUARTER 2020 GUIDANCE AND SCHEDULES THIRD QUARTER 2020 EARNINGS CALL
Malvern, PA, October 14, 2020. Vishay Intertechnology, Inc., (NYSE: VSH), one of the world's largest manufacturers of discrete
semiconductors and passive electronic components, today announced that its results for the third fiscal quarter of 2020 are expected to be above the Company’s previous outlook. The Company now expects third quarter revenues of approximately $640
million at an adjusted gross margin of approximately 23.6% plus/minus 20 basis points. The previous expectation was for revenues in the range of $580 to $620 million at a gross margin of 22.8% plus/minus 70 basis points, assuming a USD/EUR
exchange rate of 0.87.
The change in outlook is the result of stronger than expected demand mainly from automotive end customers as well as from distribution,
in particular in Asia.
Vishay will release its results for the third quarter before the New York Stock Exchange opens on Tuesday, November 3, 2020.
A conference call to discuss Vishay’s third quarter financial results is scheduled for Tuesday, November 3, 2020 at 9:00 a.m. ET. The
dial-in number for the conference call is 877 589-6174 (+1 706-643-1406, if calling from outside the United States) and the access code is 7991697.
There will be a replay of the conference call from 12:00 p.m. ET on Tuesday, November 3, 2020 through 11:59 p.m. ET on Wednesday,
November 18. The telephone number for the replay is +1 855-859-2056 (+1 404-537-3406, if calling from outside the United States or Canada) and the access code is 7991697.
A live audio webcast of the conference call and a PDF copy of the press release and the quarterly presentation will be accessible
directly from the Investor Relations section of the Vishay website at http://ir.vishay.com.
About Vishay
Vishay manufactures one of the world’s largest portfolios of discrete semiconductors and passive electronic components that are
essential to innovative designs in the automotive, industrial, computing, consumer, telecommunications, military, aerospace, and medical markets. Serving customers worldwide, Vishay is The DNA of tech.™ Vishay Intertechnology, Inc. is a Fortune 1,000 Company listed on the NYSE (VSH). More on Vishay at www.Vishay.com.
Statements contained herein that relate to the Company's expected third quarter revenues, and gross margins are forward-looking
statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "believe," "estimate," "will be," "will," "would," "expect," "anticipate," "plan," "project," "intend," "could," "should," or
other similar words or expressions often identify forward-looking statements. Such statements are based on current expectations only, and are subject to certain risks, uncertainties and assumptions, many of which are beyond our control. Should
one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance, or achievements may vary materially from those anticipated, estimated or projected. Results for the third
fiscal quarter will only be known with certainty when the Company completes its accounting for the quarter. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise.
The DNA of tech™ is a trademark of Vishay Intertechnology.
Contact:
Vishay Intertechnology, Inc.
Peter Henrici
Senior Vice President, Corporate Communications
+1-610-644-1300
Peter Henrici
Senior Vice President, Corporate Communications
+1-610-644-1300