AVX Earnings: Here’s Why Shares are Down Now

AVX Corp. (NYSE:AVX) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.55%.

AVX Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 5.88% to $0.16 in the quarter versus EPS of $0.17 in the year-earlier quarter.

Revenue: Rose 2.9% to $363.4 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: AVX Corp. reported adjusted EPS income of $0.16 per share. By that measure, the company missed the mean analyst estimate of $0.16. It missed the average revenue estimate of $369.9 million.

Quoting Management: Chief Financial Officer, Kurt Cummings, stated, “During the quarter, we paid $14.7 million of dividends to stockholders and spent $2.3 million to repurchase shares of AVX stock on the open market to enhance shareholder value.”

Key Stats (on next page)…

Revenue decreased 0% from $0 in the previous quarter. EPS increased 6.67% from $0.15 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.16 to a profit $0.17. For the current year, the average estimate has moved up from a profit of $0.65 to a profit of $0.67 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)