AVX Corp. (AVX) Tops Q1 EPS by 1c, Revenues Beat

AVX Corp. (NYSE: AVX) reported Q1 EPS of $0.19, $0.01 better than the analyst estimate of $0.18. Revenue for the quarter came in at $454.1 million versus the consensus estimate of $412.4 million.

Chief Executive Officer and President, John Sarvis, stated, “We completed the first quarter of our fiscal year with net sales of $454.1 million, reflecting an increase over both the previous quarter and the same quarter in the prior year. Overall orders in the industry remained strong, reflecting a continuing robust demand for our passive components, antennas, sensors and interconnect solutions. Our gross profit of $108.3 million, or 23.9 percent, reflects solid operating performance and improved pricing in the market. Our various distribution channels continue to experience favorable trends and we are maintaining a positive outlook for succeeding quarters. Our operational efficiency programs continue to positively impact our manufacturing cost. We continue to be optimistic that the evolution of new electronic devices and content will create strong demand for our components and interconnect, sensing and control devices and provide growth opportunities during the remainder of the fiscal year.”

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

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