Exhibit 99.1

VISHAY REPORTS RESULTS FOR FOURTH QUARTER AND YEAR 2019

Revenues for Q4 2019 of $610 million and for the year 2019 $2,668 million
Gross Margin Q4 of 22.2% and year 2019 of 25.2%
Operating Margin Q4 of 4.0% and year 2019 of 9.8%
Adjusted Operating Margin Q4 of 6.7% and year 2019 of 10.7%
EPS Q4 of $0.10 and year 2019 of $1.13
Adjusted EPS Q4 of $0.13 and year 2019 of $1.26
Free cash for the year 2019 of $140 million
Guidance for Q1 2020 for revenues of $605 to $645 million and gross margins of 24.0% plus/minus 70 basis points at Q4 exchange rates

MALVERN, Pa. – February 4, 2020 – Vishay Intertechnology, Inc. (NYSE: VSH), one of the world's largest manufacturers of discrete semiconductors and passive components, today announced its results for the year and fiscal quarter ended December 31, 2019.

Revenues for the year ended December 31, 2019 were $2,668.3 million, compared to $3,034.7 million for the year ended December 31, 2018.  Net earnings attributable to Vishay stockholders for the year ended December 31, 2019 were $163.9 million, or $1.13 per diluted share compared to $345.8 million, or $2.24 per diluted share for the year ended December 31, 2018.

Revenues for the fiscal quarter ended December 31, 2019 were $609.6 million, compared to $628.3 million for the fiscal quarter ended September 28, 2019, and $775.9 million for the fiscal quarter ended December 31, 2018.  Net earnings attributable to Vishay stockholders for the fiscal quarter ended December 31, 2019 were $14.0 million, or $0.10 per diluted share, compared to $30.0 million, or $0.21 per diluted share for the fiscal quarter ended September 28, 2019, and $102.4 million, or $0.69 per diluted share for the fiscal quarter ended December 31, 2018.

As summarized on the attached reconciliation schedule, all periods presented include items affecting comparability.  Adjusted earnings per diluted share, which exclude these items net of tax and the unusual tax items, were $0.13 and $1.26 for the fiscal quarter and year ended December 31, 2019, respectively, $0.26 for the fiscal quarter ended September 28, 2019, and $0.58 and $2.12 for the fiscal quarter and year ended December 31, 2018, respectively.

Commenting on results for the year 2019, Dr. Gerald Paul, President and Chief Executive Officer stated, “After a prolonged upturn in the prior two years, 2019 has been a year of correction for Vishay and the electronic components industry. The reduction of inflated inventory levels in the supply chain led to drastically reduced manufacturing volumes, which negatively impacted Vishay’s profitability. A further burden has been temporary manufacturing inefficiencies due to the very rapid and substantial adaptation of capacities to the decreased demand.”

Dr. Paul continued, commenting on the results for the fourth quarter 2019, “The performance in the fourth quarter has been disappointing due to a lower than usual contributive margin caused by an unfavorable product mix and various negative singularities impacting variable cost; lower other income; and a higher than assumed tax rate for the year. During the fourth quarter inventories of Vishay’s products at distribution were reduced by a further $37 million. Based on lower order cancellations and an order uptick from distribution in all regions, we believe that the fourth quarter represented the low point of the inventory correction in the supply chain.”

Commenting on the outlook Dr. Paul stated, “For the first quarter 2020 we expect a further inventory reduction in the supply chain and guide for revenues in the range of $605 to $645 million and gross margins of 24.0% plus/minus 70 basis points at the exchange rates of the fourth quarter 2019.  The guidance excludes the impact from the rapidly evolving coronavirus crisis."

A conference call to discuss Vishay’s third quarter financial results is scheduled for Tuesday, February 4, 2020 at 9:00 a.m. ET. The dial-in number for the conference call is 877-589-6174 (+1 706-643-1406, if calling from outside the United States or Canada) and the access code is 4395745.

A live audio webcast of the conference call and a PDF copy of the press release and the quarterly presentation will be accessible directly from the Investor Relations section of the Vishay website at http://ir.vishay.com.

There will be a replay of the conference call from 12:00 p.m. ET on Tuesday, February 4, 2020, through 11:59 p.m. ET on Tuesday, February 18, 2020. The telephone number for the replay is +1 855-859-2056 (+1 404-537-3406, if calling from outside the United States or Canada) and the access code is 4395745.


The following information was filed by Vishay Intertechnology Inc (VSH) on Tuesday, February 4, 2020 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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