MANHASSET, N.Y. Passive components and semiconductor supplier Vishay Intertechnology Inc. reported earnings of $19.9 million, or 11 cents per share on sales of $566.1 million the third quarter of 2005, compared to $22.1 million, or 13 cents per share on sales of $584.3 million in the year-ago quarter.
In the previous quarter, Vishay (Malvern, Pa.) earned $9.7 million, or 5 cents per share on sales of $582.4 million.
Third-quarter earnings were impacted by after-tax charges amounting to 3 cents per share, compared to 7 cents per share for the second quarter of 2005.
For the first nine months of 2005, revenue was $1.7 billion, down slightly from $1.8 billion a year ago. Net earnings were $35.4 million or 20 cents per share, compared to net earnings of $99.1 million or 55 cents per diluted share for the comparable prior-year period.
Net earnings for the nine months ended Oct. 1, 2005 were impacted by restructuring and severance costs of $18.2 million, compared to $7.0 million for the corresponding nine-month period a year ago.
For the fourth quarter, Vishay expects sales of $570 million to $590 million, with gross margin sequentially higher.