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Kemet confirms guidance for Q3/18

Global supplier of passive electronic components Kemet confirmed its financial performance expectations for its third fiscal quarter ending December 31, 2017.
For its FY18 third quarter, Kemet expects net sales to be within the USD 288 to 300 million range, and gross margin as a percentage of net sales are expected to be between 26.5 and 27.5 percent. Order rates remain significantly higher than at the same time in the company’s second quarter, and distributor days-on-hand inventory remains within normal levels. The company’s third quarter revenue expectations incorporate anticipated seasonal softening due to customers’ end of December factory shut-downs.

Per Loof, the Company’s Chief Executive Officer, commented, “We expect that the company will continue to experience strong performance, both in our income statement and our balance sheet, throughout the remainder of our fiscal year. We expect to continue to grow cash – with a second quarter ending balance of USD 253.7 million, and an estimated third quarter ending balance between USD 265 to 275 million – while reducing total debt and increasing capital expenditures to build capacity. Our robust order backlog will not only help to support our estimated third quarter revenues, but should also provide a solid start to our fourth quarter, when we expect sales to rebound from the anticipated seasonal end of December slowdown."


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