© bdriver dreamstime.com Components | May 14, 2015
Kemet with net loss for 4Q/2014
Kemet reported net sales of USD 193.7 million for 4Q/2014 (ended March 31, 2015); a decrease of 3.8 percent from net sales of USD 201.3 million for the prior quarter and a decrease of 10.2 percent compared to net sales of USD 215.8 million for the quarter that ended March 31, 2014.
For the fiscal year ended March 31, 2015 net sales were USD 823.2 million compared to USD 833.7 million for the fiscal year ended March 31, 2014. The U.S. GAAP net loss for the quarter ended March 31, 2015 was USD 19.8 million, compared to a net loss for the quarter ended March 31, 2014 of USD 14.4 million. For the fiscal year ended March 31, 2015, the net loss was USD 14.1 million, compared to a net loss of USD 68.5 million, for the fiscal year ended March 31, 2014. "We entered this fiscal year focused on improving Adjusted operating income and cash flow and we are pleased that our Adjusted operating income improved over $30.5 million compared to our prior fiscal year even with some currency headwinds in the last two quarters," stated Per Loof, Kemet's Chief Executive Officer. "As we adjust to the reality of a strong U.S. dollar we believe we have positioned our cost structure to allow us to continue a trend of improving our Adjusted operating income for our next fiscal year as well," continued Loof.
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