© adam121 dreamstime.com Business | August 04, 2017
Net sales of USD 274.0M for 1Q/2017 for Kemet
Kemet reported on net sales of USD 274.0 million for the quarter ended June 30, 2017; an increase of USD 76.5 million from net sales of USD 197.5 million for the prior quarter (ended March 31, 2017).
Tokin sales included in total revenue from the period April 19, 2017 to June 30, 2017 were USD 71.4 million. Pro forma sales for the company and Tokin as if the acquisition occurred on April 1, 2017 were USD 291 million. Net sales for the quarter ended June 30, 2017 increased USD 89.1 million from net sales of USD 184.9 million for the quarter ended June 30, 2016, driven primarily by Tokin net sales of USD 71.4 million. U.S. GAAP net income was USD 221.4 million for the quarter ended June 30, 2017. This compares to net income of USD 52.9 million for the quarter ended March 31, 2017. For the quarter ended June 30, 2016, the company reported a net loss of USD 12.2 million. Net income for the quarter ended June 30, 2017 includes a USD 75.4 million gain from the equity investment in Tokin for the period from April 1, 2017 to April 18, 2017, primarily related to Kemet's thirty-four percent interest in Tokin's gain on the sale of its electro-mechanical devices (EMD) business. Additionally, as part of the acquisition of Tokin, Kemet recorded acquisition gains totalling USD 136.4 million, consisting of the following: a preliminary gain of USD 72.7 million to mark its thirty-four percent interest in Tokin to fair value and a USD 63.7 million preliminary gain on the acquisition of Tokin for the quarter ended June 30, 2017. “In our first fiscal quarter of this year we completed all three of our key objectives of closing the Tokin acquisition, refinancing our long-term debt, and the acquisition being accretive out of the starting gate,” stated Per Loof, the Company’s Chief Executive Officer. “We are extremely pleased with the first quarter financial results combining Kemet with Tokin and the value creation for all of our stakeholders. The work to extract the synergies from the combination is just beginning but is expected to be additive to our financial results this fiscal year."
Arrow sits comfortably as number one among distributors SourceToday has rolled up their sleeves and taking it upon themselves to analyse the world of electronic component distribution.
Vitesco and ROHM cooperate on Silicon Carbide Power Solutions The powertrain business area of Continental Vitesco Technologies and ROHM Semiconductor have recently signed a development partnership, beginning in June 2020.
Six chip companies expecting an increase in 2Q sales Because of uncertainty regarding the impact of Covid-19 on business in the second half of this year, many semiconductor companies have not provided full year 2020 guidance.
Murata to close its Kanuma manufacturing plant It was short lived, the Kanuma plant. Established back in September of 2017, the site has developed, designed and produced primary and secondary batteries, but now the plant will close and production will be transferred.
Integra wins $3 million contract from Northrop Grumman Integra Technologies has been was awarded a $3 million contract from Northrop Grumman.
NI to acquire OptimalPlus in a $365 million deal National Instruments has entered into a definitive agreement to acquire OptimalPlus Ltd., a global player in data analytics software for the semiconductor, automotive and electronics industries.
Seagate to consolidate operations in the US On June 1, 2020, Seagate Technology committed to a restructuring plan with the aim reduce its cost structure, and invest in future opportunities. The company also intends to consolidate its Minnesota facilities into one location.
SkyWater chosen for volume US manufacturing of temperature sensing chip Foundry partner, SkyWater Technology, has been chosen by investment firm, Asymmetric Return Capital (ARC) and Linear ASICs, a fabless analog and mixed-signal semiconductor company, to volume manufacture a microchip with temperature sensing capabilities used in a low-cost, smartphone-enabled wireless patch that assists in the remote detection of COVID-19.
Samsung expands with new NAND flash facility Samsung Electronics plans to expand its NAND flash production capacity in Pyeongtaek, Korea, in order to improve its ability to meet demands from emerging technologies.
ASML ships first-generation multibeam inspection system ‘eScan1000’ ASML Holding NV says that it has completed system integration and testing of its first-generation HMI multibeam inspection (MBI) system for 5 nm nodes and beyond.
Cognex takes measures to counter deteriorating market conditions Machine vision technology provider, Cognex Corporation, says it is taking significant steps to reducing expenses due to deteriorating market conditions and to position the company for growth when conditions improve.
Verkotan selects PWC technology from Rohde & Schwarz Test and measurement specialist Rohde & Schwarz has recently introduced the R&S PWC200, the first plane wave converter (PWC) on the market. Verkotan is the first independent test house to choose this technology to test 5G NR FR1 base stations over-the-air (OTA).
Kurt Sievers takes the helm at NXP At its annual general meeting of shareholders, the appointment of Kurt Sievers as the company’s next CEO was overwhelmingly approved.
Excelitas’ Qioptiq subsidiary expands with new plant Excelitas Technologies, a company delivering photonic solutions, sats that its Qioptiq subsidiary held a ground-breaking ceremony last week to mark the beginning of construction for a new factory in Göttingen, Germany.
Farnell adds Sorensen power supplies to its roster Distributor Farnell announces that it has added Sorensen, the premier DC programmable power supply brand from Ametek, to its range of power supplies.
Infineon raises EUR 1 billion following successful share placement Infineon informs that the company placed 55 million new shares, following an accelerated bookbuilding process with institutional investors, under the exclusion of subscription rights. The shares were placed at a price of EUR19.30 per share, meaning that the company managed to raise EUR 1.06 billion.
Skeleton Technologies strengthens management with new COO Skeleton Technologies has appointed Ants Vill, former Vice President of Product, as Chief Operating Officer.Load more news