Vishay Precision reports Q4 adjusted EPS 61c vs. 76c last year

Reports Q4 revenue $89.5M vs. $96.24M last year. Ziv Shoshani, CEO of VPG, commented, “We achieved solid financial results and record adjusted free cash flow in fiscal 2023, despite a more challenging macro environment in the second half of the year. For the fourth quarter, we grew revenue 4.3% compared to the third quarter of 2023, and delivered adjusted diluted net earnings per share* of $0.61. Reflecting our strong cash flow, we delivered adjusted EBITDA of $16.5 million, an adjusted EBITDA margin* of 18.5%, and $13.5 million of adjusted free cash flow. We continued to deploy our capital to create stockholder value in the fourth quarter with $4.7 million of stock repurchases and the $22.0 million repayment of our revolving credit facility that is expected to significantly reduce interest expense in 2024.”