UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): September 9, 2004
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VISHAY INTERTECHNOLOGY, INC.
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(Exact name of registrant as specified in its charter)
Delaware 1-7416 38-1686453
(State or other jurisdiction of (Commission file number) (I.R.S. employer
incorporation or organization) identification no.)
63 Lincoln Highway, Malvern, PA 19355-2120
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(Address of Principal Executive Offices) (Zip code)
Registrant's telephone number, including area code 610-644-1300
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(Former name or former address, if changed since last report.)
Item 7.01 - Regulation FD Disclosure
On September 9, 2004 Vishay Intertechnology, Inc. issued a press release
updating its guidance for the third quarter of 2004. A copy of the press release
is furnished as Exhibit 99 to this report.
Item 9.01 - Financial Statements and Exhibits
(c) Exhibits
Exhibit No. Description
99 Press release dated September 9, 2004
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, Vishay
Intertechnology, Inc. has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
Date: September 9, 2004
VISHAY INTERTECHNOLOGY, INC.
By: /s/ Richard N. Grubb
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Name: Richard N. Grubb
Title: Executive Vice President and
Chief Financial Officer
NEWS RELEASE
Contact: Richard N. Grubb, Executive
Vice President and Chief Financial
Officer or Robert A. Freece,
Executive Vice President
610/644-1300
FOR IMMEDIATE RELEASE
VISHAY PROVIDES UPDATED GUIDANCE FOR THIRD QUARTER 2004
MALVERN, PENNSYLVANIA - September 9, 2004 - Vishay Intertechnology, Inc. (NYSE:
VSH) announced today that revenues and net earnings for the third quarter of
2004 will not meet our previous guidance of flat versus the second quarter of
2004. Results for the fourth quarter of 2004 are expected to show sequential
improvement both in revenues and net earnings.
Dr. Felix Zandman, Chairman and Chief Executive Officer of Vishay stated,
"Because of weakness in our bookings for July and August, caused by lower demand
in all of our end markets, our third quarter revenues and net earnings will be
lower than the second quarter of 2004. Early indications are that September's
bookings have improved over the levels of July and August, however probably not
enough to meet our previous guidance for the third quarter of 2004. We still
believe that we will see improved business conditions in the fourth quarter and
be able to show sequential improvements."
Vishay Intertechnology, Inc., a Fortune 1,000 Company listed on the NYSE (VSH),
is one of the world's largest manufacturers of discrete semiconductors (diodes,
rectifiers, transistors, and optoelectronics) and selected ICs, and passive
electronic components (resistors, capacitors, inductors, and transducers).
Vishay's components can be found in products manufactured in a very broad range
of industries worldwide. Vishay is headquartered in Malvern, Pennsylvania, and
has operations in 17 countries employing over 27,000 people. Vishay can be found
on the Internet at http://www.vishay.com.
Statements contained herein that relate to the Company's future performance and
outlook, including, without limitation, statements with respect to the Company's
anticipated results of operations or level of business for 2004 or any other
future period, including anticipated business improvements or continuing
business trends, synergies and cost savings, and expected or perceived
improvements in the economy and the electronic component industry generally are
forward-looking statements within the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. 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, estimated or projected. Among the factors
that could cause actual results to materially differ include: changes and
conditions in the demand for, or in the mix
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of, the Company's products and services; market-wide trends, generally or in the
specific areas where the Company sells the bulk of its products; competitive
pricing and other competitive pressures; changes in the pricing for new
materials used by the Company, particularly tantalum and palladium; cancellation
of a material portion of the orders in the Company's backlog; difficulties in
expansion and/or new product development, including capacity constraints and
skilled personnel shortages; changes in laws, including trade restrictions or
prohibitions and the cancellation or reduction of government grants, tax
benefits or other incentives; currency exchange rate fluctuations; labor unrest
or strikes; underutilization of plants and factories in high labor cost regions
and capacity constraints in low labor cost regions; the availability of
acquisition opportunities on terms considered reasonable by the Company; and
such other factors affecting the Company's operations, markets, products,
services and prices as are set forth in its December 31, 2003 Report on Form
10-K filed with the Securities and Exchange Commission. The Company undertakes
no obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
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