2/9/2010-Shares of Vishay Intertechnology (NYSE:VSH) are trading 0.4% higher to $8.10 premarket Tuesday after the company reported Q4 EPS of $0.16, besting consensus estimates of $0.12.

Revenues for the quarter rose 5.5% year-over-year to $607.0 million, topping consensus estimates $591.1 million.

For Q1, the company expects revenues of between $630 to $670 million, versus consensus estimates of $594.6 million.

Dr. Gerald Paul, President and Chief Executive Officer of Vishay Intertechnology, commented, "In the fourth quarter 2009 the demand for both passive components and discrete semiconductors increased dramatically across all geographies, all end markets and all sales channels. Orders are approaching pre-crisis levels. Strong end demand meant that our distributors reduced their inventories of our products by another 2%; the inventory turns at distribution were 4.2 for the fourth quarter.

"Since the beginning of the crisis we have drastically reduced our fixed costs lowering our break-even point permanently by approximately $500 million. Our defined restructuring programs have been implemented or announced, which will result in low restructuring charges going forward. Based on improved profitability in combination with lower working capital requirements we are set to continue to generate high levels of cash from operations.

"Since the beginning of the fourth quarter 2009 Vishay is in the phase of a steep upturn. We are confident that 2010 will become a good year for us. However, in case of an economic slow-down we are prepared to promptly re-establish all savings measures of the last year."

Contact Chip Brian

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