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.