AVX,
I did not see any mention of it on the threads I follow.
Stock did very well today on earnings release:
AVX Corporation Reports Record Sales and Earnings
MYRTLE BEACH, S.C., Jan 11, 2001 (BUSINESS WIRE) -- AVX Corporation (NYSE: AVX chart, msgs) reported that net sales were $709.5 million in the third quarter ended December 31, 2000, compared with net sales of $416.4 million for the same quarter last year.
This represents an increase of 70.4% from the same quarter last year.
Net income was $166.1 million, or $0.94 per diluted share, compared with $42.5 million, or $0.24 per diluted share, for the same quarter last year. The quarter ended December 31, 1999 includes $3.0 million of other income ($2.0 million after income taxes, or $0.01 per share) related to a settlement for defective materials from a supplier.
Chairman and Chief Executive Officer, Dick Rosen stated, "AVX's successful implementation of our strategy to expand production capacity over the past several years and the industry's strong growth again resulted in record sales and earnings."
For the first nine months of the fiscal year, net sales were $2,007.2 million, compared with $1,131.1 million for the same period last year. This represents an increase of 77.5% from the same period last year. Net income for the first nine months of the fiscal year was $442.7 million, or $2.51 per diluted share, compared with $86.1 million, or $0.49 per diluted share, for the same period last year.
Dick Rosen went on to state, "We are delighted that we have produced net income of 23.4% of net sales for the quarter. Although there are industry concerns about sales growth over the near term, our customers remain optimistic regarding the growth of their end product sales and hence, their need for AVX components, for 2001. The outlook for the expansion of the applications for certain of our advanced components looks very promising."
AVX, headquartered in Myrtle Beach, South Carolina, is a leading manufacturer and supplier of a broad line of passive electronic components and related products.
Please visit our website at www.avxcorp.com |
