Kemet: Fiscal 1Q Earnings Snapshot
FORT LAUDERDALE, Fla. (AP) _ Kemet Corp. (KEM) on Thursday reported fiscal first-quarter net income of $40.3 million.
On a per-share basis, the Fort Lauderdale, Florida-based company said it had profit of 68 cents. Earnings, adjusted for one-time gains and costs, came to 82 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.
The electronic capacitor maker posted revenue of $345.2 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $342.1 million.
Kemet shares have climbed 15% since the beginning of the year. The stock has dropped 23% in the last 12 months.