AVX Corp. (AVX) Misses Q2 EPS by 2c

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AVX Corporation Announces Preliminary Second Quarter Results

October 26, 2016 8:30 AM EDT

FOUNTAIN INN, S.C.--(BUSINESS WIRE)-- AVX Corporation (NYSE: AVX) today reported preliminary unaudited results for the second quarter ended September 30, 2016.

Chief Executive Officer and President, John Sarvis, stated, We completed the second quarter of our fiscal year with net sales of $327.5 million reflecting an increase over both the previous quarter and the same quarter in the prior year. Our gross profit of $61.8 million, or 18.9%, was negatively impacted by $9.9 million, or 3.1%, related to intellectual property litigation (discussed below). Our results continue to reflect solid operating results reflective of our focus on... More