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Vishay Precision Group, Inc. (VPG) is a global leader in precision measurement and sensing technologies. The company specializes in converting physical data into digital formats, ensuring accuracy and reliability for mission-critical applications. VPG sells high-quality sensors, weighing solutions, and measurement systems that are integral to industries such as industrial, transportation, medical, and aerospace.
- Sensors Segment - Develops foil resistors and strain gages that provide high precision and reliability for applications requiring accurate measurement of physical parameters.
- Weighing Solutions Segment - Produces specialized modules and systems used to measure weight, force, torque, and pressure, catering to industries like transportation and agriculture.
- Measurement Systems Segment - Offers highly specialized systems for steel production, materials development, and safety testing, supporting industrial and test and measurement markets.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Amir Tal Executive | Executive Vice President and Chief Accounting Officer | Amir Tal is the current Executive Vice President and Chief Accounting Officer at VPG, effective March 1, 2024. He previously held roles including Senior Vice President and Chief Accounting Officer from February 5, 2020 to February 29, 2024, and other key positions that demonstrated his extensive expertise in finance and operations at VPG. | ||
William M. Clancy Executive | Executive Vice President and Chief Financial Officer | William M. Clancy is the Executive Vice President and Chief Financial Officer of Vishay Precision Group, Inc. since November 1, 2009. He previously served in key financial roles at Vishay Intertechnology, including Corporate Controller from 1993 to November 1, 2009, and is a licensed CPA in Pennsylvania. | ||
Bruce Lerner Board | Board of Directors | President and CEO of Norit Corp. ; Board Member of ORS-Medco | Bruce Lerner is a member of the Board of Directors at Vishay Precision Group, Inc., where he contributes his extensive leadership experience from roles as a president and CEO of various global companies. His background in technology and international business reinforces his strategic impact at VPG. | |
Erez Lorber Board | Independent Member of the Board of Directors | Board member of CIPIA | Erez Lorber was appointed as an independent member of the Board of Directors at VPG on August 14, 2024 and brings extensive leadership experience from previous roles, including CEO of Questar Auto Technologies (2020–2023) and COO of Storedot (2015–2020). | |
Janet Clarke Board | Director | President at Clarke Littlefield LLC; Director at Cox Enterprises, Inc. | Janet Clarke has served as the Director at VPG since 2016 and holds positions on both the Audit and Compensation Committees. She has extensive external experience, including serving as President at Clarke Littlefield LLC since June 2003 and as Director at Cox Enterprises, Inc. since 2007. | |
Nava Swersky Sofer Board | Independent member of the Board of Directors | Nava Swersky Sofer was appointed as an independent member of the Board of Directors at VPG on December 4, 2024. She brings extensive expertise from previous roles, including serving as President and CEO of Yissum from 2005 to 2009 and as Vice President at Novartis from 1991 to 1996. | ||
Saul Reibstein Board | Non-Executive Chairman of the Board | Board Member at PENN Entertainment, Inc. | Saul Reibstein has served as the Non-Executive Chairman of the Board at VPG since January 1, 2023. He brings over 40 years of financial and audit expertise with previous key roles including CFO and board member at PENN Entertainment, Inc.. | |
Sejal Shah Gulati Board | Independent Director | Trustee of Princeton University; President of the Harvard Business School Alumni Board | Sejal Shah Gulati was appointed as an Independent Director at VPG, effective January 1, 2022. She brings extensive leadership experience from roles including Chief Growth Officer at NOW™ and Senior Vice President at Genpact, along with service in major companies such as American Express. | |
Timothy Talbert Board | Director | Timothy Talbert has served as a Director on the Board of Vishay Precision Group since 2010 and also chairs the Nominating and Corporate Governance Committee. He brings extensive experience from his previous roles in banking, equipment leasing, and corporate governance, having held senior positions at Lease Corporation of America, Huntington National Bank, and Comerica Bank. |
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Given that your Measurement Systems segment's book-to-bill ratio declined to 0.78 in Q4 due to customer order pushouts , and considering the softness in this segment, what concrete steps are you taking to mitigate the impact of these delays, and how confident are you in the anticipated rebound in orders, especially with $5 million in bookings being pushed to future quarters?
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Your adjusted gross margin declined to 38.3% in Q4 from 40% in Q3, affected by unfavorable product mix and one-time material adjustments. How are you addressing these margin pressures, and what initiatives are in place to stabilize or improve gross margins amid ongoing revenue challenges?
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While you cite a potential $100 million revenue opportunity from business development initiatives over the next 3-4 years , considering the $18 million contribution in 2024 and the long design cycles of up to 30 months , what gives you confidence in achieving this target, and how are you mitigating the risks associated with such long lead times and market uncertainties?
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With your plan for an additional $5 million in cost savings in 2025 through moving operations to India and increasing automation , how do you anticipate these measures impacting your operational efficiency and product quality, and are there any risks that these cost reductions could affect customer satisfaction or delivery times?
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SG&A expenses increased to $27.3 million in Q4, representing 37.5% of revenues , while adjusted operating margins have decreased significantly. What specific strategies are you implementing to control these operating expenses, and how do you plan to improve operating margins in the face of limited near-term visibility and macroeconomic headwinds ?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
KOA | Competes in the Sensors segment using different technology to offer functionally equivalent products in the foil resistors market. |
Bourns | Competes in the Sensors segment using different technology to offer functionally equivalent products in the foil resistors market. |
Competes in the Sensors segment using different technology to offer functionally equivalent products in the foil resistors market. | |
TT Electronics | Competes in the Sensors segment using different technology to offer functionally equivalent products in the foil resistors market. |
Susumu | Competes in the Sensors segment using different technology to offer functionally equivalent products in the foil resistors market. |
Isabellenhute | Competes in the Sensors segment using different technology to offer functionally equivalent products in the foil resistors market. |
Caddock | Competes in the Sensors segment using different technology to offer functionally equivalent products in the foil resistors market. |
Flat Dashi | Competes in the Sensors segment using different technology to offer functionally equivalent products in the foil resistors market. |
HBK | Competes in the Sensors segment for strain gages and in the Weighing Solutions segment for load cell products. |
Tokyo Sokki Kenkyujo Co., Ltd (TML) | Competes in the Sensors segment for strain gages. |
Kyowa | Competes in the Sensors segment for strain gages. |
Zemic | Competes in the Sensors segment for strain gages and in the Weighing Solutions segment for load cell products. |
Utilcell | Competes in the Weighing Solutions segment for load cell products. |
Air-Weigh | Competes in the Weighing Solutions segment for onboard weighing products. |
Vehicle Weighing Systems | Competes in the Weighing Solutions segment for onboard weighing products. |
Competes in the Measurement Systems segment in the steel market. | |
IMS | Competes in the Measurement Systems segment in the steel market. |
Fuji | Competes in the Measurement Systems segment in the steel market. |
Kistler | Competes in the Measurement Systems segment for data acquisition systems. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Nokra Optische Prueftechnik & Automation GmbH | 2024 | VPG acquired Nokra for €3.95 million using cash to enhance its precision measurement and inspection solutions with Nokra’s laser-based systems for metal manufacturing, immediately accretive with healthy margins and leveraging existing sales channels. |
Diversified Technical Systems, Inc. (DTS) | 2021 | VPG acquired DTS for approximately $47.0 million, financed through cash and borrowings, to complement its precision sensor platform with DTS’s miniaturized data acquisition systems used in automotive, avionics, and defense, and included post-acquisition restrictive covenants and associated acquisition costs. |
Recent press releases and 8-K filings for VPG.
- Fiscal 2025 Q1 results showed net revenues of $71.7 million, an 11.2% decline year-over-year with a GAAP gross profit margin of 37.7%.
- The Company reported a diluted net loss per share of $(0.07) compared to earnings of $0.44 per share in the prior year period, with adjusted diluted net earnings per share at $0.04.
- Management highlighted a strong order backlog and a book-to-bill ratio over 1.00, and provided guidance for Q2 revenues to be between $70 million and $76 million.