AVX Corp. (AVX) Tops Q1 EPS by 2c

AVX Corp. (NYSE: AVX) reported Q1 EPS of $0.21, $0.02 better than the analyst estimate of $0.19. Revenue for the quarter came in at $300.5 million versus the consensus estimate of $301.3 million.

Chief Executive Officer and President, John Sarvis, stated, "We completed our first quarter of the fiscal year with sales of $300.5 million for the quarter, generally in line with expectations. Solid operating results continued with operating profit of $48.7 million, reflecting our focus on the sale of higher margin value-added components coupled with cost control. Orders for our components and interconnect devices reflected our customers` cautious expectations for end market growth in the midst of stable component delivery lead times. We continue to be optimistic that the continuing evolution of new electronic devices will provide growth opportunities during the latter part of the fiscal year as global stability and economic confidence gain traction."

For earnings history and earnings-related data on AVX Corp. (AVX) click here.

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