Benzinga | Aug 10, 2021 02:08PM EDT

Vishay Clocks 41% Revenue Growth In Q2, Expands Margins

* Vishay Intertechnology Inc (NYSE:VSH) reported second-quarter FY21 net revenue growth of 40.8% year-on-year to $819.1 million, beating the analyst consensus of $816.3 million.

* Margins: The gross margin expanded 550 bps to 28%.

* The operating margin expanded 830 bps to 15.3%.

* The adjusted EBITDA margin expanded 620 bps to 19.9%.

* Adjusted EPS of $0.61 beat the analyst consensus of $0.58.

* Vishay held $855.8 million in cash and equivalents. It generated $117.5 million in operating cash flow during Q2.

* Total inventories as of July 3, 2021, totaled $507.88 million versus $448.25 million as of Dec. 31, 2020.

* Outlook: Vishay sees Q3 revenue of $810 million - $850 million compared to the analyst consensus of $814.99 million.

* The company sees a gross margin of 27.8%-28.8%.

* Price Action: VSH shares traded lower by 0.04% at $22.35 on the last check Tuesday.