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Actionable news in KEM: KEMET CORPORATION,

Kemet: William M. Lowe, Jr Richard J. Vatinelle

The following excerpt is from the company's SEC filing.

Executive Vice President and

Chief Financial Officer

Treasurer

williamlowe@kemet.com

richardvatinelle@kemet.com

864-963-6484

954-766-2838

KEMET REPORTS PRELIMINARY FISCAL

SECOND

QUARTER RESULTS

Greenville, South Carolina (

October 29, 2015

KEMET Corporation (the “Company”) (NYSE: KEM), a leading global supplier of electronic components, today reported preliminary results for our

second

quarter fiscal year

ended

September 30, 2015

Net sales of

$186.1 million

for the quarter e nded

decreased

from net sales of

$187.6 million

for the prior quarter ended

June 30, 2015

$215.3 million

September 30, 2014

The U.S. GAAP net income was

$7.2 million

per diluted share for the quarter ended

, which included a non-cash gain of

$2.2 million

or $0.04 per diluted share related to the change in value of the NEC TOKIN option. This compares to a net loss of

$37.1 million

per basic and diluted share for the quarter ended

, which included a non-cash charge of

$29.2 million

or $0.64 per basic and diluted share related to the change in value of the NEC TOKIN option. For the quarter ended

, the Company reported net income of

$6.3 million

per diluted share which, for comparison purposes, included a non-cash gain of

$6.6 million

or $0.13 per diluted share related to the change in value of the NEC TOKIN option.

Non-U.S. GAAP adjusted net income of

$4.3 million

improved by

$3.6 million

compared to non-U.S. GAAP adjusted net income of

$0.7 million

per basic and diluted share in the quarter ended

, the Company reported non-U.S. GAAP adjusted net income of

$3.5 million

per diluted share.

“Continued margin improvement remains our focus and we are ahead of our plan achieving another 180 basis point margin improvement this quarter over the prior quarter,” stated Per Loof, KEMET’s Chief Executive Officer. “Our cost structure is in the best shape of my tenure at KEMET. The team has positioned us to be able to achieve positive bottom-line results during a time of economic slowdown and created significant operating leverage for the future as revenue returns to more normalized levels,” continued Loof.

The net income (loss) for the quarters ended

include various items affecting comparability as denoted in the U.S. GAAP to Non-U.S. GAAP reconciliation table included hereafter.

About KEMET

The Company’s common stock is listed on the NYSE under the ticker symbol “KEM” (NYSE: KEM). At the Investor Relations section of our web site at http://www.kemet.com/IR, users may subscribe to KEMET news releases and find additional information about our Company. KEMET applies world class service and quality to deliver industry leading, high performance capacitance solutions to its customers around the world and offers the world’s most complete line of surface mount and through hole capacitor technologies across tantalum, ceramic, film, aluminum, electrolytic, and paper dielectrics. Additional information about KEMET can be found at http://www.kemet.com.

QUIET PERIOD

Beginning January 1, 2016, we will observe a quiet period during which the information provided in this news release and quarterly report on Form 10-Q will no longer constitute our current expectations. During the quiet period, this information should be considered to be historical, applying prior to the quiet period only and not subject to update by management. The quiet period will extend until the day when our next quarterly earnings release is published.

CAUTIONARY STATEMENT ON FORWARD-LOOKING STATEMENTS

Certain statements included herein contain forward-looking statements within the meaning of federal securities laws about the Company’s financial condition and results of operations that are based on management’s current expectations, estimates and projections about the markets, in which the Company operates, as well as management’s beliefs and assumptions. Words such as “expects,” “anticipates,” “believes,” “estimates,” variations of such words and other similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in, or implied by, such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s judgment only as of the date hereof. The Company undertakes no obligation to update publicly any of these forward-looking statements to reflect new information, future events or otherwise.

Factors that may cause actual outcomes and results to differ materially from those expressed in, or implied by, these forward-looking statements include, but are not necessarily limited to the following:

(i) adverse economic conditions could impact our ability to realize operating plans if the demand for our products declines, and such conditions could adversely affect our liquidity and ability to continue to operate; (ii) continued net losses could impact our ability to realize current operating plans and could materially adversely affect our liquidity and our ability to continue to operate; (iii) adverse economic conditions could cause the write down of long-lived assets or goodwill; (iv) an increase in the cost or a decrease in the availability of our principal or single-sourced purchased materials; (v) changes in the competitive environment; (vi) uncertainty of the timing of customer product qualifications in heavily regulated industries; (vii) economic, political, or regulatory changes in the countries in which we operate; (viii) difficulties, delays or unexpected costs in completing the restructuring plans; (ix) equity method investment in NEC TOKIN exposes us to a variety of risks; (x) possible acquisition of NEC TOKIN may not achieve all of the anticipated results; (xi) acquisitions and other strategic transactions...


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