The Gory Details of AVX's Earnings Miss
AVX (NYS: AVX) reported earnings yesterday. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q3), AVX missed on revenues and whiffed on earnings per share.
Compared to the prior-year quarter, revenue contracted significantly, and earnings per share contracted significantly.
Margins contracted across the board.
AVX reported revenue of $340.9 million. The two analysts polled by S&P Capital IQ foresaw a top line of $368.3 million. Sales were 16% lower than the prior-year quarter's $405.9 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.
EPS came in at $0.22. The four earnings estimates compiled by S&P Capital IQ forecast $0.27 per share. GAAP EPS of $0.22 for Q3 were 39% lower than the prior-year quarter's $0.36 per share.
Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.
For the quarter, gross margin was 23.0%, 520 basis points worse than the prior-year quarter. Operating margin was 14.7%, 570 basis points worse than the prior-year quarter. Net margin was 10.8%, 410 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $346.0 million. On the bottom line, the average EPS estimate is $0.20.
Next year's average estimate for revenue is $1.53 billion. The average EPS estimate is $1.18.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 126 members out of 134 rating the stock outperform, and eight members rating it underperform. Among 47 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 43 give AVX a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on AVX is hold, with an average price target of $15.00.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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