Exhibit 99.1
For Immediate Release
VPG Reports Fiscal 2016 Fourth Quarter and Twelve Month Results
MALVERN, Pa. (February 21, 2017) -- Vishay Precision Group, Inc. (NYSE: VPG), a leading producer of precision sensors and systems, today announced its results for its fiscal 2016 fourth quarter and twelve months ended December 31, 2016.
Fourth Quarter Highlights:
Fourth quarter earnings per diluted share of $0.22.
Fourth quarter adjusted earnings per diluted share of $0.26.*
Cash generated from operations for the fourth quarter was $4.9 million and free cash flow was $4.7 million.*
Book-to-bill was 1.16 for the fourth quarter of 2016.

“Our adjusted earnings per diluted share performance was $0.26 for the fourth quarter of 2016 as compared to adjusted earnings per diluted share of $0.20 in the fourth quarter of 2015, in spite of softer sales this quarter compared to the fourth quarter of 2015,” said Ziv Shoshani, VPG chief executive officer. “We also generated cash from operations of $4.9 million, with free cash flow of $4.7 million, which reflects our restructuring and cost reduction programs.”

Net earnings attributable to VPG stockholders for the fourth fiscal quarter of 2016 were $3.0 million, or $0.22 per diluted share, compared to a net loss attributable to VPG stockholders for the fourth fiscal quarter of 2015 of ($13.4) million, or ($1.02) per diluted share. Net earnings attributable to VPG stockholders for the fiscal twelve months ended December 31, 2016 were $6.4 million, or $0.48 per diluted share, compared to a net loss attributable to VPG stockholders of ($13.0) million, or ($0.96) per diluted share, for the comparable prior year period. The prior year results include a $12.4 million non-cash income tax charge recorded in the fourth quarter of 2015 related to a valuation allowance recorded against certain deferred tax assets and a $4.9 million non-cash write down for impairment of goodwill related to the steel business recorded in the third quarter of 2015.
Adjusted net earnings attributable to VPG stockholders for the fourth fiscal quarter of 2016 were $3.4 million, or $0.26 per diluted share, compared to adjusted net earnings attributable to VPG stockholders of $2.7 million, or $0.20 per diluted share, for the comparable prior year period. Adjusted net earnings attributable to VPG stockholders for the fiscal twelve months ended December 31, 2016 were $9.9 million, or $0.74 per diluted share, compared to adjusted net earnings attributable to VPG stockholders of $7.7 million, or $0.57 per diluted share, for the comparable prior year period. Adjusted net earnings for the fiscal quarter and fiscal twelve months ended December 31, 2016 exclude, among other costs, $0.3 million and $1.3 million respectively, of costs associated with the Company’s evaluation of strategic alternatives. The evaluation process did not result in the adoption of any particular strategic alternative other than the Company’s continued execution of its business plan. It is not expected that the costs associated with the evaluation, which consisted principally of professional fees, will be continuing at this time.
The following table reconciles the Company's non-U.S. GAAP measures included in the press release, which are provided for comparison with other results, and the most directly comparable U.S. GAAP measures:



1


The following information was filed by Vishay Precision Group, Inc. (VPG) on Tuesday, February 21, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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