Vishay Precision Group, Inc. · NYSE:VPG
Vishay Precision — Q2 2021 Earnings Presentation
14 slides from Vishay Precision's earnings presentation, Aug 10, 2021
Slide 1: Vishay Precision Group
Vishay Precision Group PERFORMANCE THROUGH PRECISION VPG Second Fiscal Quarter 2021 Earnings — August 10, 2021 PERFORMANCE THROUGH PRECISION
Slide 2: Safe Harbor Statement
Safe Harbor Statement From time to time, information provided by us, including but not limited to statements in this report, or other statements made by or on our behalf, may contain "forward- looking" information within the meaning of the Private Securities Litigation Reform Act of 1995. Such state
Slide 3: Second Quarter 2021 Highlights
Second Quarter 2021 Highlights • Revenues of $75.3 million vs. $70.6 million in 1Q21 ▪ Sales grew sequentially across all three reporting segments • Orders of $105.4 million grew 23.3% sequentially, including $7.1 million of DTS backlog • Book-to-bill ratio of 1.40 and backlog of $130.9 million indi
Slide 4: Consolidated Results/Market Trends
Consolidated Results/Market Trends Financial Highlights Revenue by Market ($ in millions) Fiscal quarter ended ($ in millions) Fiscal quarter ended July 3, June 27, July 3, June 27, April 3, 2021 2020 April 3, 2021 2021 2020 2021 Test & Measurement $ 16.3 $ 14.0 $ 14.4 Net revenues $ 75.3 $ 59.1 $ 7
Slide 5: Segment Results/Trends
Segment Results/Trends Foil Technology Weighing and Control Products Force Sensors Systems ($ in millions) Q2 Q2 Q1 Q2 Q2 Q1 Q2 Q2 Q1 2021 2020 2021 2021 2020 2021 2021 2020 2021 Net revenues $ 33.3 $ 31.8 $ 32.7 $ 17.2 $ 8.9 $ 16.9 $ 24.8 $ 18.4 $ 20.9 Gross profit $ 12.9 $ 13.3 $ 13.0 $ 6.0 $ 1.0
Slide 6: VPG Acquired Privately held DTS on June 1, 2021
VPG Acquired Privately held DTS on June 1, 2021 • Adds niche, sensor and data acquisition company to VPG platform • DTS is a profitable, established business with strong cash flow • Expands market penetration in automotive test and measurement and AMS, with Blue Chip customers • Complementary techno
Slide 7: Financial Results
Financial Results Fiscal quarter ended ($ in millions, except per share amounts) July 3, 2021 June 27, 2020 April 3, 2021 Net revenues $ 75.3 $ 59.1 $ 70.6 Organic Growth Acquisitions Gross profit $ 29.8 $ 23.1 $ 28.6 Gross profit margin 39.6 % 39.1 % 40.5 % Selling, general, and administrative expe
Slide 8: Selected Balance Sheet Items
Selected Balance Sheet Items ($ in Millions) July 3, 2021 June 27, 2020 April 3, 2021 Cash & cash equivalents $ 73.5 $ 87.2 $ 96.2 Total assets $ 440.3 $ 384.7 $ 398.6 Total long-term debt $ 60.7 $ 40.7 $ 40.6 Total liabilities $ 174.4 $ 140.4 $ 138.0 8 PERFORMANCE THROUGH PRECISION
Slide 9: Thank You
Thank You PERFORMANCE THROUGH PRECISION 9 9
Slide 10: Appendix
Appendix PERFORMANCE THROUGH PRECISION 10 10
Slide 11: Reconciliation of Adjusted Gross Profit, Operating Income, Net Earnings and Diluted EPS - Quarter
Reconciliation of Adjusted Gross Profit, Operating Income, Net Earnings and Diluted Earnings Per Share - Quarter Net Earnings Attributable to Gross Profit Operating Income VPG Stockholders Diluted Earnings Per share Three months ended July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 July 3, 202
Slide 12: Reconciliation of Adjusted Gross Profit, Operating Income, Net Earnings and Diluted EPS - YTD
Reconciliation of Adjusted Gross Profit, Operating Income, Net Earnings and Diluted Earnings Per Share - YTD Net Earnings Attributable to Gross Profit Operating Income VPG Stockholders Diluted Earnings Per share Six fiscal months ended July 3, 2021 June 27, 2020 July 3, 2021 June 27, 2020 July 3, 20
Slide 13: Reconciliation of Adjusted Gross Profit by Segment
Reconciliation of Adjusted Gross Profit by Segment 2021 2020 2021 Q2 Q2 Q1 Foil Technology Products As reported - GAAP $ 12,942 $ 13,286 $ 13,039 As reported - GAAP Margins 38.9 % 41.8 % 39.9 % COVID-19 impact 94 (38) 53 Start-up costs $ 1,159 $ 129 As Adjusted - Non GAAP $ 14,195 $ 13,248 $ 13,221
Slide 14: Non-GAAP Reconciliation – EBITDA and Adjusted EBITDA
Non-GAAP Reconciliation – EBITDA and Adjusted EBITDA Fiscal quarter ended July 3, 2021 June 27, 2020 April 3, 2021 Net earnings attributable to VPG stockholders $ 3,920 $ 1,759 $ 4,961 Interest Expense 273 267 305 Income tax expense 262 684 1,764 Depreciation 2,829 2,509 2,907 Amortization 757 604 6
Vishay Precision Group — Q2 2021 Earnings Presentation on 6ix