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KEMET Reports Sales and Earnings for September 2002 Quarter
October 30, 2002 |Estimated reading time: Less than a minute
Greenville, S.C. -- KEMET Corp. reported sales and earnings for the fiscal quarter ended September 30, 2002.
Net sales of $113.1 million for the September 2002 quarter decreased 6 percent compared with $120.6 million for the September 2001 quarter, and decreased sequentially 9 percent from the $124 million reported for the June 2002 quarter.
Net earnings, prior to the non-recurring pre-tax charges of $17 million, in the September 2002 quarter of $47,000, or 1/10th of a cent per diluted share were down slightly from $1 million, or 1 cent per diluted share, in the September 2001 quarter, and down from 4 cents per diluted share, in the June 2002 quarter. Net loss, after the non-recurring pre-tax charges, in the September 2002 quarter was $11.1 million, or 13 cents per diluted share.
As of September 30, 2002, KEMET had $235.3 million in cash, $100 million in long-term debt, and $844.5 million in stockholders' equity.
KEMET Corp. provides industry leading, high performance capacitor solutions, including the world's most complete line of surface-mount capacitor technologies across tantalum, ceramic and solid aluminum dielectrics. For more information, visit www.kemet.com.