Vishay Precision Group reported a net loss attributable to VPG stockholders of $(1.4) million, or $(0.10) per diluted share, for the third fiscal quarter ended September 28, 2024. This compares to net earnings of $6.3 million, or $0.46 per diluted share, in the prior year's comparable period. Adjusted net earnings for the quarter were $2.5 million, or $0.19 per adjusted diluted net earnings per share.
Total revenue in the third quarter remained fairly stable sequentially, with overall orders totaling $68.6 million. Orders declined 6.7% sequentially, resulting in a book-to-bill ratio of 0.91. Cyclical markets such as steel and consumer were soft, while orders in test and measurement and avionics, military & space showed higher trends.
The Sensors segment reported revenue of $28.2 million, a 13.3% decrease year-over-year, with a gross profit margin of 31.0%. The Weighing Solutions segment saw revenue of $25.2 million, down 13.1% year-over-year, with a gross profit margin of 35.1%. Measurement Systems revenue was $22.4 million, an 8.2% decrease year-over-year, but with a gross profit margin of 56.8%.
For the fourth fiscal quarter of 2024, VPG expects net revenues to be in the range of $70 million to $78 million. The company continues to focus on long-term strategies for organic growth and operational streamlining. Management noted the recent acquisition of Nokra as part of its strategy to add high-quality businesses.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.