Revenue Growth
Revenue grew sequentially by 4% to $791 million, which is 2% above the midpoint of guidance. Notable growth was seen in automotive, industrial, computer, and medical segments.
Positive Book-to-Bill Ratio
Book-to-bill for October is at a run rate of 1.15, indicating improving conditions in automotive, smart grid infrastructure, aerospace defense, and AI-related power requirements.
Automotive Segment Growth
Automotive revenue increased 7% versus the second quarter on higher volumes in the Americas and Europe, with increased engagements with automotive OEMs and Tier 1 customers.
Industrial and AI Demand
Revenue from the industrial segment increased 2%, driven by capacitors for smart grid projects. There is increased demand for AI servers and associated power components.
Strategic Investment in Capacity
Year-to-date, Vishay invested $179 million in capacity, expecting to spend $300-$350 million for the year, with 70% focused on expansion projects.