This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

AVX Corporation's CEO Discusses F1Q13 Results - Earnings Call Transcript

AVX Corporation (AVX)

Q1 2013 Earnings Call

July 31, 2012 10:00 am ET


John Gilbertson - President & CEO

Kurt Cummings - VP, CFO, Treasurer & Secretary


Matt Sheerin - Stifel Nicolaus

Shawn Harrison - Longbow Research

Jim Suva - Citi



Good morning. My name is Sarah and I will be your conference operator today. At this time, I would like to welcome everyone to the first quarter earnings conference call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. (Operator Instructions) Thank you.

Mr. John Gilbertson, President and CEO, you may begin your conference.

John Gilbertson

Thank you very much Sarah. Good morning. I would like to thank you for attending the AVX conference call regarding the results for our first fiscal year quarter that ended this June. I am John Gilbertson and with me today is Kurt Cummings, AVX’s Chief Financial Officer and Mr. John Lawing, our Vice President of the Advanced Products Group. I hope you had a chance to review our earnings release that was issued this morning.

The June quarter flowed along with the general macro economy and sales came in about 2.5% from the March quarter at $353.2 million. The overall gross book-to-bill during the quarter was 1.06 to 1. The backlog during the quarter increased and this is a positive sign going forward.

During the quarter, we were impacted by customer’s uncertainty and particularly their reluctance to take any inventory beyond the immediate end market demand. The key word during the quarter was uncertainty. This uncertainty impacted prices and margin as long-term orders were limited and we walked away from some marginal business to hold up margins.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.99 -0.02%
FB $99.54 -0.21%
GOOG $678.11 -0.68%
TSLA $148.25 0.18%
YHOO $26.82 -0.85%


Chart of I:DJI
DOW 16,014.38 -12.67 -0.08%
S&P 500 1,852.21 -1.23 -0.07%
NASDAQ 4,268.7630 -14.99 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs