© bellemedia Business | February 06, 2017

Kemet increased net sales

Kemet reported on net sales of USD 188.0 million for the quarter (ended December 31, 2016).
Net sales increased 0.4 percent from net sales of USD 187.3 million for the prior quarter ended September 30, 2016 and increased 6.1 percent from net sales of USD 177.2 million for the quarter ended December 31, 2015.

U.S. GAAP net income was USD 12.3 million for the quarter ended December 31, 2016. This compares to a net loss of USD 5.0 million for the quarter ended September 30, 2016. For the quarter ended December 31, 2015, the Company reported net loss of USD 8.6 million.

"This quarter is the fourth quarter of sequential growth and the highest revenue since our first quarter in fiscal 2016," stated Per Loof Kemet's Chief Executive Officer. "Global initiatives in the sales development process that targeted specific segments and product technologies supported this growth. These initiatives, coupled with a defined strategy and a target market that was shared across Sales, Business Groups and Technical Marketing boosted the overall quarter performance," continued Loof.


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