AVX Corp. (AVX) Tops Q4 EPS by 2c, Revenues Miss

AVX Corp. (NYSE: AVX) reported Q4 EPS of $0.41, $0.02 better than the analyst estimate of $0.39. Revenue for the quarter came in at $439 million versus the consensus estimate of $449 million.

Chief Executive Officer and President, John Sarvis, stated, “We completed our fiscal year with net sales of $1,791.8 million, reflecting a 14.7 percent increase over the previous year. Our gross profit of $482.9 million, or 27.0 percent gross profit margin reflects solid operating performance, positively influenced by our operational efficiency programs, as well as improved pricing in the market when compared to the prior fiscal year. We continue to focus on providing our customers with the value added electronic components and interconnect, sensing and control devices they require in today’s sophisticated electronic products as well as our continued commitment to cost control in our operations. We are making necessary investments in manufacturing plant expansion and product line increases to support our customers’ growing requirements. We continue to be optimistic that demand for our electronic components and interconnect, sensing and control devices will remain strong during the next fiscal year.”

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

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