VPG Q4 Revenue $80.6M Beats Expectations
Reports Q4 revenue $80.6M, consensus $78.07M. Ziv Shoshani, CEO of VPG, commented, "In the Q4 we achieved continued improvement in sales and orders. Sales grew 1.1% sequentially and were 10.9% higher than the Q4 a year ago. Orders of $81.3M grew sequentially as we achieved a positive book-to-bill ratio of 1.01, our fifth consecutive quarter of book-to-bill of 1.00 or better. Our Sensors segment, which achieved the highest levels of bookings since 2022, recorded a book-to-bill of 1.15. We are ramping up production of Sensors products and expect to realize higher sales beginning in the Q2. Our Q4 adjusted gross margin was significantly impacted by $1M related to unfavorable product mix and $1M of inventory reductions. In addition, we incurred approximately $1M of discrete inventory and manufacturing impacts, as well as a $400,000 impact from unfavorable foreign exchange."
