Vishay Precision Group, Inc. · NYSE:VPG
Vishay Precision — Q3 2021 Earnings Presentation
13 slides from Vishay Precision's earnings presentation, Nov 11, 2021
Slide 1: Vishay Precision Group Third Fiscal Quarter 2021 Earnings
Vishay Precision Group PERFORMANCE THROUGH PRECISION VPG Third Fiscal Quarter 2021 Earnings — November 11, 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 statem
Slide 3: Third Quarter 2021 Highlights
Third Quarter 2021 Highlights • Revenues of $82.0 million vs. $75.3 million in 2Q21 vs. $67.5 million in 3Q20 • Book-to-bill ratio of 1.21 and backlog of $146.7 million support positive 4Q outlook ◦ Solid financial and operational performance, in spite of challenges with labor availability: ◦ Gross
Slide 4: Consolidated Results/Market Trends
Consolidated Results/Market Trends Financial Highlights Revenue by Market ($ in millions) Fiscal quarter ended ($ in millions) Fiscal quarter ended October Sept. 26, July 3, October 2, Sept. 26, 2, 2021 2020 2021 2021 2020 July 3, 2021 Net revenues $ 82.0 $ 67.5 $ 75.3 Test & Measurement $ 15.9 $ 12
Slide 5: Segment Results/Trends
Segment Results/Trends Weighing and Control Foil Technology Products Force Sensors Systems ($ in millions) Q3 Q3 Q2 Q3 Q3 Q2 Q3 Q3 Q2 2021 2020 2021 2021 2020 2021 2021 2020 2021 Net revenues $32.8 $32.9 $33.3 $17.7 $13.9 $17.2 $31.5 $20.8 $24.8 Gross profit $10.5 $13.5 $12.9 $ 6.1 $ 4.2 $ 6.0 $15.2
Slide 6: Financial Results
Financial Results Fiscal quarter ended ($ in millions, except per share amounts) October 2, 2021 September 26, 2020 July 3, 2021 Net revenues $ 82.0 $ 67.5 $ 75.3 Organic Growth Acquisitions Gross profit $ 31.8 $ 27.3 $ 29.8 Gross profit margin 38.8 % 40.5 % 39.6 % Selling, general, and administrati
Slide 7: Selected Balance Sheet Items
Selected Balance Sheet Items ($ in Millions) October 2, 2021 September 26, 2020 July 3, 2021 Cash & cash equivalents $ 75.5 $ 89.8 $ 73.5 Total assets $ 449.9 $ 392.7 $ 440.3 Total long-term debt $ 60.7 $ 40.7 $ 60.7 Total liabilities $ 180.3 $ 140.2 $ 174.4 7 PERFORMANCE THROUGH PRECISION
Slide 8: Thank You
Thank You PERFORMANCETHROUGH PERFORMANCE THROUGH PRECISION PRECISION 8 8
Slide 9: Appendix
Appendix PERFORMANCETHROUGH PERFORMANCE THROUGH PRECISION PRECISION 9 9
Slide 10: 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 October 2, September October 2, September October 2, September October 2, September
Slide 11: 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 October 2, September October 2, September October 2, September October 2, September Nine
Slide 12: Reconciliation of Adjusted Gross Profit by Segment
Reconciliation of Adjusted Gross Profit by Segment 2021 2020 2021 Q3 Q3 Q2 Foil Technology Products As reported - GAAP $ 10,530 $ 13,515 $ 12,942 As reported - GAAP Margins 32.1 % 41.1 % 38.9 % COVID-19 impact — 159 94 Start-up costs $ 970 $ — $ 1,159 As Adjusted - Non GAAP $ 11,500 $ 13,674 $ 14,19
Slide 13: Non-GAAP Reconciliation – EBITDA and Adjusted EBITDA
Non-GAAP Reconciliation – EBITDA and Adjusted EBITDA Fiscal quarter ended October 2, September 2021 26, 2020 July 3, 2021 Net earnings attributable to VPG stockholders $ 5,379 $ 5,598 $ 3,920 Interest Expense 328 309 273 Income tax expense 1,662 2,109 262 Depreciation 2,955 2,426 2,829 Amortization
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