VPG Q1 FY2023 revenue $88.9M, up 1.4% YoY; EPS $0.51 vs $0.46 YoY

First Fiscal Quarter Highlights: • Revenues of $88.9 million increased 1.4% from a year ago. • Gross profit margin was 41.9%, as compared to 40.2% reported a year ago. • Adjusted gross profit margin* was 41.9%, as compared to 41.0% reported a year ago. • Operating margin was 11.2%, as compared to 9.5% reported a year ago. • Adjusted operating margin* was 11.4%, as compared to 10.5% reported a year ago. • Diluted net earnings per share of $0.51 compared to $0.46 reported a year ago. • Adjusted diluted net earnings per share* of $0.52 compared to $0.49 reported a year ago. • EBITDA* was $14.0 million with an EBITDA margin* of 15.8%. • Adjusted EBITDA* was $14.1 million with an adjusted EBITDA margin* of 15.9%. • Cash from operating activities was $8.4 million with adjusted free cash flow* of $4.9 million. Ziv Shoshani, Chief Executive Officer of VPG, commented

Near-Term Outlook “We expect net revenues to be in the range of $83 million to $93 million for the second fiscal quarter of 2023, at constant first fiscal quarter 2023 foreign currency exchange rates,” concluded Mr. Shoshani.