Kemet: Fiscal 2Q Earnings Snapshot
FORT LAUDERDALE, Fla. (AP) _ Kemet Corp. (KEM) on Monday reported a fiscal second-quarter loss of $15.3 million, after reporting a profit in the same period a year earlier.
The Fort Lauderdale, Florida-based company said it had a loss of 26 cents per share. Earnings, adjusted for one-time gains and costs, came to 66 cents per share.
The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 66 cents per share.
The electronic capacitor maker posted revenue of $327.4 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $324.9 million.
Kemet shares have risen 31% since the beginning of the year. In the final minutes of trading on Monday, shares hit $23.01, a rise of roughly 6% in the last 12 months.