The 10-second takeaway
For the quarter ended March 31 (Q4), AVX beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue dropped slightly. GAAP earnings per share grew.
Gross margins contracted, operating margins dropped, net margins grew.
AVX reported revenue of $360.5 million. The one analyst polled by S&P Capital IQ expected revenue of $348.4 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 $0.15. The three earnings estimates compiled by S&P Capital IQ averaged $0.17 per share. GAAP EPS were $0.15 for Q4 versus -$0.08 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 17.6%, 390 basis points worse than the prior-year quarter. Operating margin was 9.6%, 420 basis points worse than the prior-year quarter. Net margin was 6.8%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $369.9 million. On the bottom line, the average EPS estimate is $0.17.
Next year's average estimate for revenue is $1.51 billion. The average EPS estimate is $0.71.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 134 members out of 143 rating the stock outperform, and nine members rating it underperform. Among 44 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 39 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 $11.50.
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