Good Time to Be Passive
Firms post strong quarterly results
By Bernard Levine
Passive component makers are smiling over their most recent quarterly financial results, and expect the good times to keep on rolling.
Kemet Corp., AVX Corp., Molex Inc. and Amphenol Corp. are among the capacitor, connector and other parts firms with good financial news to report.
"Kemet's record shipments and bookings for the (fiscal) second quarter reflect the exciting growth momentum that is underway in our segment of the electronics industry," said David E. Maguire, chairman and chief executive officer of the Greenville, S.C. firm. "All indications are for this high demand for our products to continue well into the future. We are making every effort to accommodate our customers' needs by increasing our operating efficiencies and adding the appropriate production capacity for both our tantalum and multilayer ceramic capacitor operations. At the same time, average selling prices are improving markedly, which should result in progressively higher margins throughout the year."
At Myrtle Beach, S.C.-based AVX: "We are delighted with the level of orders received during the quarter, which represented a record for AVX," said Dick Rosen, chairman and CEO. "The production capacity we added last year and continue to add, in addition to continued operating efficiencies, has allowed us to increase both sales and earnings significantly over last year."
Molex is also happy. "We were very pleased with our results as Molex achieved record sales and orders in what is traditionally a difficult seasonal quarter. Business levels improved through the quarter as we have good momentum and a very strong backlog," said Fred A. Krehbiel, co-chairman and co-CEO of the Lisle, Ill. firm.
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