AVX Corporation Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2017; Provides Earnings Guidance for the Fourth Quarter Ending March 2018
For the nine months, the company reported net sales of $1,115,842,000 compared to $983,083,000 a year ago. Profit from operations was $132,548,000 compared to $118,479,000 a year ago. Income before income taxes was $140,936,000 compared to $127,678,000 a year ago. Net loss was $26,910,000 or $0.16 per basic and diluted share compared to income of $91,928,000 or $0.55 per basic and diluted share a year ago.
The company currently anticipates the total company sales in the March quarter 2018, which will include an approximately $30 million reduction in the Kyocera product resale activity with the remainder of the company's business sales increasing in the 2% to 3% range. The company estimates that the gross profit margins in the March quarter will be in the 19% to 20% range. Consolidated sales, general and administrative expense should come in between $37 million and $38 million. The blended tax rate should approximately be 27%.