Palm Beach, FL 1/19/12 (StreetBeat) -- Vishay Precision Group, Inc. (NYSE: VPG), a leading producer of precision sensors and systems based on its resistive foil technology, today announced expected fourth quarter revenues for the three months ended December 31, 2011.The Company expects to report revenues of approximately $56.5 million, which is slightly below its previous guidance for the period. The decrease in sales volume is expected to result in a gross margin reduction. The lower revenue for the quarter is primarily the result of missed shipments due to operational capacity issues at end-of-year, as well as lower European sales compared to the previous revenue guidance.
Ziv Shoshani, CEO of VPG, commented, “We normally expect our quarterly sales to vary within our revenue guidance range. However, our Foil Technology Products segment was not able to ship approximately $2 million of customer orders due to operational capacity issues that occurred. In addition, our Weighing Modules and Control Systems segment revenue is expected to be approximately $2.5 million below our guidance. This is primarily from a decline in European sales during the latter part of the fourth quarter. Although our fourth quarter revenues are slightly below our guidance, the trailing three month book to bill ratio was 0.95, including European customers.”
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