Vishay Intertechnology Inc. (NYSE:VSH) Q2 2019 Earnings Conference Call Transcript
Jul 30, 2019 • 09:00 am ET
our market presence further. Our manufacturing capabilities have been substantially expanded since the year 2016, and we are in a position to exploit the next market upturn to the full extent. We decided to establish a meaningful restructuring program, reducing our personnel fixed costs by $15 million per year at a cash cost of $25 million while, and I emphasize that, at the same time, optimizing the quality of our organization further. Having to expect an acceleration of the inventory burn-off in the channel, we, for the third quarter, guide to a sales range of $600 million to $640 million at gross margins between 24% and 25%.
Thank you. Peter?
Thank you, Dr. Paul. We'll now open the call to questions. Zaytinya, please take the first question.