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AVX Reports Results for December 2003 Quarter
January 28, 2004 |Estimated reading time: Less than a minute
Myrtle Beach, S.C. — AVX Corp. reported that net sales for the third quarter ended December 31, 2003 were $296.8 million.
Net loss for the quarter ended December 31, 2003, was $8.5 million, or 5 cents per share. Results for the quarter were negatively impacted by restructuring charges of $7.1 million (or $6.4 million and 4 cents per share on an after-tax basis) related to worldwide headcount reductions from employee terminations and manufacturing facility closures in Mexico and Taiwan.
The Asia region, where AVX has had a strong sales, marketing and manufacturing presence for more than 20 years, continued to grow and sales in that region for the December 2003 quarter represented 43 percent of total sales.AVX is a leading international manufacturer and supplier of a broad line of passive electronic components and related products. For more information, visit www.avxcorp.com.