The 10-second takeaway
For the quarter ended March 31 (Q4), AVX beat expectations on revenues and earnings per share.
Compared to the prior-year quarter, revenue contracted and GAAP earnings per share contracted to a loss.
Margins dropped across the board.
AVX logged revenue of $363.2 million. The two analysts polled by S&P Capital IQ wanted to see a top line of $346.0 million on the same basis. GAAP reported sales were 14% lower than the prior-year quarter's $420.1 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.22. The four earnings estimates compiled by S&P Capital IQ predicted $0.21 per share. GAAP EPS were -$0.08 for Q4 compared to $0.37 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 21.5%, 650 basis points worse than the prior-year quarter. Operating margin was -13.7%, 3,210 basis points worse than the prior-year quarter. Net margin was -3.7%, 1,880 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $372.7 million. On the bottom line, the average EPS estimate is $0.21.
Next year's average estimate for revenue is $1.53 billion. The average EPS estimate is $0.93.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 134 members out of 144 rating the stock outperform, and 10 members rating it underperform. Among 36 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 31 give AVX a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on AVX is hold, with an average price target of $15.00.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.