Vishay Intertechnology, Inc. engages in the manufacture and distribution of discrete semiconductors and passive components. It operates through the following segments: MOSFET (metal oxide semiconductor field-effect transistor), Diodes, Optoelectronic Components, Resistors and Inductors, and Capacitors. The MOSFET segment offers semiconductors which function as solid state switches to control power. The Diodes segment produces semiconductors which route, regulate, and block radio frequency, analog, and power signals; protect systems from surges or electrostatic discharge damage; and provide electromagnetic interference filtering. The Optoelectronic Components segment includes components that emit light, detect light, or do both. The Resistors and Inductors segment deals with components that impede electric current. The Capacitors segment provides components which store energy and discharge it when needed. The company was founded by Felix Zandman in 1962 and is headquartered in Malvern, PA.
We experienced a substantial, broad-based increase in demand for our products beginning in the first fiscal quarter of 2017 that continued through the third fiscal quarter of 2018. Demand started to decrease in the fourth fiscal quarter of 2018 and the decrease has accelerated through the second fiscal quarter of 2019 as distributors have significantly reduced orders as they decrease their inventory. The decrease in demand resulted in decreased net revenues compared to the prior fiscal quarter and prior year periods.
Gross profit margins for the fiscal quarter ended June 29, 2019 were 25.5%%, versus 28.3% and 29.9%, for the comparable prior quarter and prior year period, respectively. Gross profit margins for the six fiscal months ended June 29, 2019 were 27.0%, versus 29.3% for the comparable prior year period. The decreases are primarily due to the decreases in sales volume and the impacts of U.S. tariffs on goods imported from China. We were able to offset the negative impacts of inflation and average selling price decline by cost reductions and innovation. Contributive margin was negatively impacted by the adaptation of manufacturing capacities in the second fiscal quarter of 2019.
Analysis of revenues and gross profit margins for our segments is provided below.