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VPG Reports Fiscal 2025 Second Quarter Results

MALVERN, Pa., Aug. 05, 2025 (GLOBE NEWSWIRE) -- Vishay Precision Group, Inc. (NYSE: VPG), a leader in precision measurement and sensing technologies, today announced its results for its fiscal 2025 second听quarter ended June 28, 2025.

Second听Fiscal Quarter Highlights (comparisons are to the comparable period a year ago):

• Net revenues of $75.2 million 诲别肠谤别补蝉别诲听2.8%.
• Gross profit margin was听40.7%听as compared to听41.9%
• Adjusted gross profit margin* was 41.0%, as compared to听41.9%
• Operating margin was 3.6%听as compared to 7.6%.
• Adjusted operating margin* was 4.8%, as compared to 7.6%.
• Diluted net earnings per share of $0.02听compared to $0.34.
• Adjusted diluted net earnings per share* of听$0.17听compared to $0.31.
• EBITDA* was $5.2 million with an EBITDA margin* of 7.0%.
• Adjusted EBITDA* was $7.9 million with an adjusted EBITDA margin* of 10.5%.
• Cash from Operating Activities was听$6.0听尘颈濒濒颈辞苍 with Adjusted Free Cash Flow* of $4.7听尘颈濒濒颈辞苍.

Ziv Shoshani, Chief Executive Officer of VPG, commented, 鈥淲e were pleased with the positive sequential trends in the quarter, which reflected a moderately improved business climate. Second quarter sales grew 4.8%听sequentially, and total orders of听$79.9听尘颈濒濒颈辞苍 驳谤别飞听7.5% sequentially, our third consecutive quarter of order growth. This resulted听in a book-to-bill of 1.06, as our Measurement Systems and Sensors reporting segments recorded book-to-bill ratios of听1.20听and 1.12, respectively.鈥�

Mr. Shoshani said: 鈥淐ompared to the first quarter of 2025, we improved our adjusted gross margin, adjusted operating margin, and adjusted EBITDA, despite a $500 thousand negative impact from tariffs. This performance reflected a record quarterly gross margin for our Weighing Solutions segment. In July 2025, we completed the sale of a building as part of our ongoing cost reduction and efficiency initiatives, and we used the $10.8 million in net proceeds to听pay down our outstanding bank revolver balance, which is expected to save approximately $700 thousand in annual interest expense.鈥澨�

Second听Fiscal Quarter听and Six-Month Financial Trends:
The Company's second fiscal quarter听2025 net earnings attributable to VPG stockholders was $0.3听尘颈濒濒颈辞苍 or $0.02 per diluted share, compared to net earnings of听$4.6听尘颈濒濒颈辞苍, 辞谤听$0.34 per diluted share, in the second fiscal quarter of 2024.

In the six fiscal months ended June 28, 2025, net loss听attributable to VPG stockholders were $0.7听尘颈濒濒颈辞苍, or $0.05听per diluted share, compared to net earnings attributable to VPG stockholders听of听$10.5 million, or $0.78听per diluted share, in the six fiscal months ended June 29, 2024.

The second fiscal quarter 2025 adjusted net earnings* were $2.3 million, or $0.17听of adjusted diluted net earnings per share*, compared to $4.2 million 辞谤听$ 0.31 of adjusted diluted net earnings per share* in the second fiscal quarter of 2024.

In the six fiscal months ended June 28, 2025, adjusted net earnings* were $2.7 million, or $0.21听of adjusted diluted net earnings per share*, compared to $9.8听尘颈濒濒颈辞苍, or $0.73听of adjusted diluted net earnings per share* in the six fiscal months ended June 29, 2024.

Segment Performance:
The Sensors segment revenue of $26.6 million in the second fiscal quarter of 2025 诲别肠谤别补蝉别诲听8.0%听蹿谤辞尘 $28.9听尘颈濒濒颈辞苍 in the second fiscal quarter of 2024. Sequentially, revenue 诲别肠谤别补蝉别诲听1.8%听compared to $27.1 million in the first听fiscal quarter of 2025. The year-over-year decrease in revenues was primarily attributable to lower sales of strain gages听in our Other markets for consumer applications, which offset higher sales in the Test and Measurement market. Sequentially, the decrease primarily reflected lower sales of precision resistors in the Test and Measurement market.

Gross profit margin for the Sensors segment was 32.0%听for the second fiscal quarter of 2025, which decreased from听38.3%听in the second fiscal quarter of 2024听and increased from听30.1%in the听first fiscal quarter of 2025.听Adjusted for $0.1 million of start-up costs related to manufacturing consolidations, adjusted gross margin* was听32.2%听in the second fiscal quarter of 2025. Adjusted for $0.2 million of start-up costs related to manufacturing consolidations, adjusted gross margin was听30.8%听in the first听fiscal quarter of 2025. The year-over-year decrease in adjusted gross profit margin* was primarily due to lower volume, net tariffs costs, and manufacturing inefficiencies, partially offset by an increase in inventories. Sequentially, the higher adjusted gross profit margin* was primarily due to an increase inventories听and favorable foreign currency exchange rates, which offset the impact of lower volume and net tariff costs.

The Weighing Solutions segment revenue of $29.4 million in the second fiscal quarter of 2025 increased 7.2%听compared to $27.4 million in the second fiscal quarter of 2024 and was听11.3%听higher than $26.4 million in the first fiscal quarter of 2025. The year-over-year increase in revenues was mainly attributable to higher sales in the Transportation market, as well as in our Other markets. Sequentially, the increase in revenues was primarily due to higher sales in the Transportation and Industrial Weighing markets, and in our Other markets for medical and precision agriculture applications.

Gross profit margin for the Weighing Solutions segment was 39.6%听for the second fiscal quarter of 2025. Gross profit margin increased compared to 37.6%听in the second fiscal quarter of 2024 and听36.8% in the first fiscal quarter of 2025. Adjusted for $0.2 million of听start-up costs related to new product introductions, adjusted gross margin* was 40.2%听in听the second quarter of 2025. The year-over-year increase in gross profit margin was primarily due to higher volume, favorable foreign exchange rates, and cost reductions. The sequential increase in gross profit margin primarily reflected higher volume听and favorable foreign exchange rates, which offset the impact of net tariff costs.

The Measurement Systems segment revenue of $19.2 million in the second fiscal quarter of 2025 诲别肠谤别补蝉别诲听8.9%听year-over-year from $21.0 million in the second fiscal quarter of 2024 and was 5.1%听higher than $18.2 million in the first fiscal quarter of 2025. The year-over-year decrease was primarily attributable to decreased revenue in the Steel market, which offset higher sales in the Transportation and Avionics, Military and Space ("AMS") markets. Sequentially, the increase in revenue was primarily due to higher sales听in the AMS market, which offset lower sales to the Transportation and Steel markets.

Gross profit margin for the Measurement Systems segment was 54.6%, compared to 52.4%听in the second fiscal quarter of 2024, and 50.3%听in the first fiscal听quarter of 2025. The year-over-year increase in gross profit margin听was primarily due to favorable product mix. The sequentially higher gross profit margin听primarily reflected higher volume and favorable product mix.

Near-Term Outlook
鈥淕iven our backlog and the current market conditions, we expect net revenues to be in the range of $73 million to $81 million for the third fiscal quarter of 2025, at constant second fiscal quarter 2025 foreign currency exchange rates,鈥� concluded Mr. Shoshani.

*Use of Non-GAAP Financial Information:

We define 鈥渁djusted gross profit margin鈥� as gross profit margin before start-up costs. We define 鈥渁djusted operating margin鈥� as operating margin before start-up costs,听restructuring costs and severance costs. We define 鈥渁djusted net earnings鈥� and 鈥渁djusted diluted net earnings per share鈥� as net earnings attributable to VPG stockholders before start-up costs, restructuring costs and severance costs, foreign currency exchange gains and losses, and associated tax effects. We define 鈥淓BITDA鈥� as earnings before interest, taxes, depreciation, and amortization. We define 鈥淎djusted EBITDA鈥� as earnings before interest, taxes, depreciation, and amortization, start-up costs, restructuring costs and severance costs, and foreign currency exchange gains and losses.

鈥淎djusted free cash flow鈥� for the second fiscal quarter of 2025 is defined as the amount of cash generated from operating activities ($6.0听尘颈濒濒颈辞苍) in excess of capital expenditures ($1.3 million), net of proceeds, if any, from the sale of听assets ($0.0 million).

Management believes that these non-GAAP measures are useful to investors because each presents what management views as our core operating results for the relevant period. The adjustments to the applicable GAAP measures relate to occurrences or events that are outside of our core operations, and management believes that the use of these non-GAAP measures provides a consistent basis to evaluate our operating profitability and performance trends across comparable periods. These reconciling items are indicated on the accompanying reconciliation schedules and are more fully described in VPG鈥檚 financial statements presented in our Annual Report on Form 10-K and Quarterly Reports on Forms 10-Q.

Conference Call and Webcast:
A conference call will be held on Tuesday, August 5, 2025 at 9:00 a.m. ET (8:00 a.m. CT). To access the conference call, interested parties may call 1-833-470-1428 or internationally +1-404-975-4839 and use passcode 010019, or log on to the investor relations page of the VPG website at . A replay will be available approximately one hour after the completion of the call by calling toll-free 1-866-813-9403 or internationally 1-929-458-6194 and by using passcode 958597. The replay will also be available on the 鈥淓vents鈥� page of investor relations section of the VPG website at .

About VPG:
Vishay Precision Group, Inc. (VPG) is a leader in precision measurement and sensing technologies. Our sensors, weighing solutions and measurement systems optimize and enhance our customers鈥� product performance across a broad array of markets to make our world safer, smarter, and more productive. To learn more, visit VPG at 听and follow us on .

Forward-Looking Statements:
From time to time, information provided by us, including, but not limited to, statements in this press release, or other statements made by or on our behalf, may contain or constitute 鈥渇orward-looking鈥� 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; significant developments from the recent and potential changes in tariffs and trade regulation; impact of inflation; potential issues respecting the United States federal government debt ceiling; global labor and supply chain challenges; difficulties or delays in identifying, negotiating and completing acquisitions and integrating acquired companies; 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; political, economic, and health (including pandemics) instabilities; instability or disruption caused by military hostilities in the regions or countries in which we operate (including Israel); 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; compliance issues under applicable laws, such as export control laws, including the outcome of our voluntary self-disclosure of export control non-compliance; our ability to execute our corporate strategy and business continuity, operational and budget plans; 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, 2024. We caution you not to place undue reliance on forward-looking statements, which speak only as of the date of this report or as of the dates otherwise indicated in such forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Contact:
Steve Cantor
Vishay Precision Group, Inc.
781-222-3516

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