Slide 1: Performance Through Precision
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 press release, or other statements made by or on our behalf, may contain or constitute "forward-looking" information within the meaning of the Private Securities Litigation Reform A
Slide 3: Second Quarter 2022 Overview
Second Quarter 2022 Overview • 2Q22 marked one of the best quarters in VPG's history. • VPG achieved record adjusted diluted net earnings per share, adjusted EBITDA, and order backlog. • 3Q outlook for sequential revenue growth supported by record backlog. • Solid and consistent long-term opportunit
Slide 4: Fiscal Second Quarter 2022 Highlights
Fiscal Second Quarter 2022 Highlights Consolidated Financial Highlights (in $ millions) • Revenue of $88.6 million, grew 17.6% from the prior year and 1.1% sequentially. • Excluding F/X impacts, revenue grew 24.2% from the prior year and 3.4% sequentially. • Adj. net earnings per diluted share of $0
Slide 5: Sensors: Second Quarter 2022 Highlights
Sensors: Second Quarter 2022 Highlights (in $ millions) • 2Q22 revenues grew 6.7% sequentially and were up 29.2% from a year ago. • Excluding F/X impacts, 2Q22 revenues grew 9.9% sequentially and were up 38.3% from a year ago. • Strong gross margin of 44.3% due to higher volume and labor efficiencie
Slide 6: Weighing Solutions: Second Quarter 2022 Highlights
Weighing Solutions: Second Quarter 2022 Highlights (in $ millions) • 2Q22 revenues declined 13.1% sequentially and 10.2% from the prior year. • Excluding F/X impact, 2Q22 revenues declined 11.1% sequentially and 5.6% from the prior year. • Lower sequential sales of OEM force sensors and Onboard weig
Slide 7: Measurement Systems: Second Quarter 2022 Highlights
Measurement Systems: Second Quarter 2022 Highlights (in $ millions) • 2Q22 revenues increased 15.9% sequentially due to project-driven delivery cycles. • The 59.2% increase in revenue compared to the prior year was due to the acquisition of DTS on June 1, 2021 and higher steel-related revenue for KE
Slide 8: Financial Results
Financial Results Fiscal quarter ended ($ in millions, except margin data and per share amounts) July 2, 2022 July 3, 2021 April 2, 2022 Net revenues $ 88.6 $ 75.3 $ 87.7 Gross profit $ 37.3 $ 29.8 $ 35.3 Gross profit margin 42.1 % Organic 39.6 % 40.2 % Growth Acquisitions Adjusted gross profit $ 38
Slide 9: Selected Balance Sheet Items
Selected Balance Sheet Items ($ in Millions) July 2, 2022 July 3, 2021 April 2, 2022 Cash & cash equivalents $79.4 $73.5 $78.2 Total assets $458.4 $440.3 $457.8 Total long-term debt $60.8 $60.7 $60.7 Total liabilities $173.0 $174.4 $176.0 9 PERFORMANCE THROUGH PRECISION
Slide 10: Q&A
Q&A PERFORMANCE THROUGH PRECISION 10 10
Slide 11: Appendix
Appendix PERFORMANCE THROUGH PRECISION 11 11
Slide 12: Second Quarter 2022 Market Trends
Second Quarter 2022 Market Trends Consolidated Revenue by Market $ in millions 2Q22 2Q21 1Q22 Test & Measurement $ 21.5 $ 16.3 $ 18.0 Avionics, Military, Space 6.9 5.9 8.2 Transportation 13.2 11.9 14.0 Industrial Weighing 12.9 12.0 13.2 General Industrial 5.3 4.2 5.9 Steel 10.8 7.6 7.4 Other Markets
Slide 13: Reconciliation of Adjusted Gross Profit, Operating Income, Net Earnings and EPS - Quarter
Reconciliation of Adjusted Gross Profit, Operating Income, Net Earnings and Diluted Earnings Per Share - Quarter Net Earnings Attributable to In $ thousands, except margin and per share data Gross Profit Operating Income VPG Stockholders Diluted Earnings Per share Three months ended July 2, 2022 Jul
Slide 14: Reconciliation of Adjusted Gross Profit, Operating Income, Net Earnings and EPS - YTD
Reconciliation of Adjusted Gross Profit, Operating Income, Net Earnings and Diluted Earnings Per Share - YTD Net Earnings Attributable to In $ thousands, except margin and per share data Gross Profit Operating Income VPG Stockholders Diluted Earnings Per share Six fiscal months ended 7/2/2022 7/3/20
Slide 15: Non-GAAP Reconciliation – EBITDA and Adjusted EBITDA
Non-GAAP Reconciliation – EBITDA and Adjusted EBITDA Fiscal quarter ended In $ thousands, except margin data July 2, 2022 July 3, 2021 April 2, 2022 Net earnings attributable to VPG stockholders $ 10,755 $ 3,920 $ 6,356 Interest Expense 428 273 329 Income tax expense 2,587 262 1,741 Depreciation 2,8
Slide 16: Reconciliation of Adjusted Gross Profit by Segment
Reconciliation of Adjusted Gross Profit by Segment Fiscal quarter ended In $ thousands except margin data July 2, 2022 July 3, 2021 April 2, 2022 Sensors As reported - GAAP $ 17,831 $ 12,120 $ 14,286 As reported - GAAP Margins 44.3 % 38.9 % 37.8 % COVID-19 impact — 94 121 Start-up costs $ — $ 1,159