Vishay returns to 4Q profit; chip demand rebounds

(AP) — Vishay Intertechnology said Tuesday it reversed a fourth-quarter loss, booking smaller one-time expenses and climbing revenue on computer chip sales.

The company said demand has improved "dramatically" and that orders have started to return to levels seen before the financial crisis in 2008.

The results topped Wall Street forecasts and shares of Vishay Intertechnology Inc. shot up 95 cents, or 12 percent, to $9.02.

The company said it earned $28.5 million, or 15 cents per share. That compares with a loss of $652.3 million, or $3.50 per share, a year ago, when it booked one-time expenses related to restructuring and the falling value of its assets.

The most recent quarter included a penny per share in charges, bringing adjusted earnings to 16 cents. On that basis, analysts polled by Thomson Reuters were looking for 12 cents per share.

Revenue grew 5 percent to $607 million, while analysts expected $591.1 million.

For the full year, Vishay said its loss came to $57.2 million, or 31 cents per share, compared with a loss of $1.73 billion, or $9.29 per share, the year before.