MANHASSET, N.Y. Adversely affected by a slew of charges, components and semiconductor supplier Vishay Intertechnology Inc. posted net earnings of $9.7 million, or 5 cents per share on sales of $582 million in the second quarter, down from $41.1 million, or 25 cents per share on sales of $646.6 million in the year-ago quarter.
Vishay’s earnings were impacted by restructuring and severance costs of $9.3 million, charges for purchased in-process research and development of $9.2 million, by Siliconix transaction-related expenses of $3.7 million, and by losses resulting from adjustments to previously existing purchase commitments of $1.3 million. These items and their tax related consequences had a negative 7 cent effect on earnings per share.
Sales for the first six months of 2005 were $1.1 billion, 11.8 percent down from $1.3 billion for comparable prior year period. Net earnings for first six months of 2005 were $15.4 million or 9 cents per share, down from $77.1 million or 43 cents per share for comparable prior year period.
For the third quarter, Vishay expects sales of $560 million to $580 million, with margins to be flat to slightly lower.