AVX Corporation Announces Preliminary Second Quarter Results
AVX (AVX)
Last avx earnings: 1/23 08:30 am
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US:NYSE Investor Relations:
investorrelations.avx.com
Company Research
Source: Business Wire
FOUNTAIN INN, S.C.--(BUSINESS WIRE)--AVX Corporation (NYSE: AVX) today reported preliminary unaudited results for the second quarter ended September 30, 2019.Chief Executive Officer and President, John Sarvis, stated, “We completed the second quarter of our fiscal year with net sales of $377.3 million, down 6.1% compared to the previous quarter and down 17.3% from the same quarter last year reflecting extended inventory levels in the supply chain for commodity products and a weaker global market for electronic components. Our global distribution channel activity declined again this quarter as inventories remained extended. Overall orders in the industry also declined again this quarter, reflecting the higher channel inventories and weaker global demand. Our gross profit of $79.5 million, or 21.1%, reflects solid operating performance in tighter market conditions. The economic environment remains suppressed, and uncertainties with respect to international relations and trade regula
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