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Vishay lowers 4Q revenue outlook

Semiconductor and electronic components maker Vishay Intertechnology Inc., of Malvern, today lowered its revenue estimates for the current quarter due to the economic downturn.

Semiconductor and electronic components maker Vishay Intertechnology Inc., of Malvern, today lowered its revenue estimates for the current quarter due to the economic downturn.

Vishay now expects fourth-quarter revenues to be in the range of $560 million to $590 million, down from the previous projection of $640 million to $670 million.

Analysts, on average, expect revenue of $631.1 million, according to a poll by Thomson Reuters. Revenue in the fourth quarter of 2007 was $729.6 million.

In addition, gross margin is projected to be lower than in the third quarter when it was at 21.6 percent.

The company said it also has expanded an on-going restructuring, and expects to record restructuring and severance charges of approximately $15 million to $30 million in the fourth quarter.

Shares were down 9 cents to $3.88 in late morning trading.