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Kemet: Fiscal 4Q Earnings Snapshot

FORT LAUDERDALE, Fla. (AP) _ Kemet Corp. (KEM) on Thursday reported fiscal fourth-quarter profit of $93.4 million.

On a per-share basis, the Fort Lauderdale, Florida-based company said it had net income of $1.58. Earnings, adjusted for one-time gains and costs, came to $1.05 per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 96 cents per share.

The electronic capacitor maker posted revenue of $355.8 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $340.4 million.

For the year, the company reported profit of $206.6 million, or $3.50 per share. Revenue was reported as $1.38 billion.

For the current quarter ending in July, Kemet said it expects revenue in the range of $338 million to $348 million.

Kemet shares have decreased 5.5% since the beginning of the year. The stock has declined 19% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KEM at https://www.zacks.com/ap/KEM