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KEMET Reports Financial Results for the December 2002 Quarter
January 30, 2003 |Estimated reading time: Less than a minute
Greenville, S.C. -- KEMET Corp. has reported financial results for the fiscal quarter ended December 31, 2002.
Net sales of $103.7 million for the December 2002 quarter decreased 12 percent compared with $117.3 million for the December 2001 quarter, and decreased sequentially 8 percent from the $113.1 million reported for the September 2002 quarter.
Net loss, prior to non-recurring pre-tax charges of $42.6 million, in the December 2002 quarter was $3.6 million, or 4 cents per diluted share. Net loss, after the non-recurring pre-tax charges, in the December 2002 quarter was $31.7 million, or 37 cents per diluted share. Net earnings in the December 2001 quarter, prior to non-recurring pre-tax charges of $38.5 million, were $800,000. Net loss in the December 2001 quarter, including the restructuring charges, was $26.9 million, or 31 cents per diluted share. Net earnings, prior to the non-recurring pre-tax charges of $17 million, in the September 2002 quarter were $47,000, or 1/10th of a cent per diluted share. Net loss, after the non-recurring pre-tax charges, in the September 2002 quarter was $11.1 million, or 13 cents per diluted share.
For more information on KEMET Corp., visit www.kemet.com.