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VISHAY ANNOUNCES A 44-PERCENT INCREASE IN NET EARNINGS FOR THE THIRD QUARTER

 MALVERN, Pa., Nov. 9 /PRNewswire/ -- Dr. Felix Zandman, chairman and chief executive officer, announced today that Vishay Intertechnology, Inc. (NYSE: VSH) reported a 44 percent increase in net earnings corresponding to $.50 per share for the third quarter of calendar 1993.
 In the three months ended Sept. 30, 1993, sales were $200,201,000, compared with $164,879,000 in the previous year's quarter, an increase of 21 percent. Net earnings were $10,696,000, or $.50 per share compared with $7,408,000, or $.43 per share in the previous year's quarter.
 In the nine months ended Sept. 30, 1993, sales were $652,354,000, compared with $506,643,000 in the previous year's period, an increase of 29 percent. Net earnings were $35,243,000 or $1.66 per share compared with $23,018,000, or $1.33 per share in the previous year's period. Included in the net earnings for the nine-month period ended Sept. 30, 1993, is a one-time tax benefit of $1,427,000 ($.07 per share) resulting from the adoption of FASB Statement No. 109, "Accounting for Income Taxes."
 Earnings per share for all periods reflect a 5 percent stock dividend paid on June 11, 1993.
 Included in the results for the quarter and nine months ended Sept. 30, 1993, were restructuring charges of $1,738,000 and $3,730,000, respectively, related to the company's decision to downsize some of its European operations -- mainly those in France.
 Income from insurance claims of $4,221,000 for the three months and $7,221,000 for the nine months ended Sept. 30, 1993, represents proceeds received for business interruptions.
 Commenting on the results for the third quarter and nine months, Zandman stated: "Sales for the quarter and nine months increased 21 percent and 29 percent, respectively, due to the acquisition of Roederstein GmbH effective Jan. 1, 1993. The change in the exchange rate from the prior year reduced sales by $8,156,000 for the quarter and $11,663,000 for the nine months. The negative impact of the exchange rate on sales resulted in an adverse effect on gross profits for the quarter and nine months. In addition, sales have been impacted for all periods by the downturn in the European economy; however, this downturn has been somewhat compensated for by increases in U.S. and Far East sales."
 Zandman also noted: "The quarter and nine months were also adversely affected by restructuring charges of $1,738,000 and $3,730,000, or $.05 and $.12 per share, respectively. We believe the restructuring which resulted in the overhead adjustments we made to our European work force will increase profitability in the future.
 "We were successful in settling previously announced insurance claims for lost profits arising out of a delay in our planned expansion activities in Israel. We believe that the amount received only partially reimbursed us for profits lost during these periods; however, we settled to avoid litigation. To compensate for the delay, we have accelerated our expansion programs in Israel."
 Zandman added: "In spite of the fact that our sales are traditionally lower in the third quarter due to seasonal shutdowns in Europe, bookings and backlogs for surface mount components used in high- tech applications have increased to the point where the affected plants are working seven days a week, three shifts per day. New equipment capable of higher outputs is being installed; this should enable us to meet the demand for these products. Furthermore, Vishay is introducing new low-cost thin film resistor-capacitor networks required by a new generation of personal computers, palm-size computers and other products requiring miniaturization."
 Vishay Intertechnology, Inc., a Fortune 500 company, is a leading U.S. and European producer of a wide range of passive electronic components. In the United States and Europe, Vishay is the largest manufacturer of fixed resistors, resistive sensors, and tantalum capacitors, and a leading producer of film capacitors, inductors, and other passive electronic components. The company's products are used in a broad range of industries.
 VISHAY INTERTECHNOLOGY, INC.
 (Unaudited)
 Three months ended Sept. 30 1993 1992
 Sales $200,201,000 $164,879,000
 Earnings before income taxes 12,596,000 9,522,000
 Income taxes 1,900,000 2,114,000
 Net earnings 10,696,000 7,408,000
 Net earnings per share(B) $.50(C) $.43(A)
 Average shares outstanding(B) 21,228,000 19,322,000(A)
 Nine months ended Sept. 30 1993 1992
 Sales $652,354,000 $506,643,000
 Earnings before income taxes and
 cumulative effect of accounting
 change 40,103,000 29,927,000
 Income taxes 6,287,000 6,909,000
 Earnings before cumulative effect
 of accounting change 33,816,000 23,018,000
 Cumulative effect of accounting
 change for income taxes 1,427,000 ---
 Net earnings 35,243,000 23,018,000
 Net earnings per share:
 Earnings before cumulative effect of
 accounting change for income taxes $1.59(C) $1.33
 Cumulative effect of accounting change
 for income taxes $0.07 ---
 Net earnings per share(B) $1.66(C) $1.33(A)
 Average shares outstanding(B) 21,227,000 19,320,000(A)
 (A) Earnings per share for the quarter and nine months ended Sept. 30, 1992, is based on the weighted average number of common shares and dilutive common equivalent shares (from the assumed conversion of convertible subordinated debentures) outstanding during the interim period. In October 1992, the convertible subordinated debentures were converted into 2,536,783 shares of common stock. Net earnings for the quarter and nine months ended Sept. 30, 1992, are adjusted for interest expense, net of income taxes, on the convertible subordinated debentures. The actual shares outstanding at Sept. 30, 1992, as adjusted to reflect the 5 percent stock dividend paid on June 11, 1993, were 16,668,432.
 (B) Earnings per share amounts for all periods reflect a 5 percent stock dividend paid on June 11, 1993.
 (C) The lower percentage increase in earnings per share as compared to net earnings increase is a result of the sale of 1.8 million common shares in December 1992 and the dilutive effect of the conversion of the subordinated debentures explained in (A) above.
 /delval/
 -0- 11/9/93
 /CONTACT: Robert A. Freece, vice president and treasurer of Vishay Intertechnology, 215-644-1300/
 (VSH)


CO: Vishay Intertechnology, Inc. ST: Pennsylvania IN: CPR SU: ERN

JM-MP -- PH022 -- 2234 11/09/93 11:44 EST
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Date:Nov 9, 1993
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