said Monday it slightly beat Wall Street's earnings estimates for the fiscal third quarter.
Kemet said it earned $97.4 million, or $1.10 a share, up from $18.2 million, or 22 cents a share, in the year-ago period. Four analysts polled by
First Call/Thomson Financial
were calling for the company to post earnings of $1.09 a share for the quarter.
The company, a maker of solid tantalum and multilayer capacitors, reported sales of $374.9 million, up from $215.1 million a year ago. The company said the next quarter's revenue should be flat with the latest third quarter. "Barring a recession, we expect fiscal 2002 revenue growth to be in excess of 10% over fiscal 2001 revenues with earnings of at least $3 per share," the company said in a statement.
Shares of Kemet, which is based in Greenville, S.C., closed down 56 cents, or 2.7%, to $20.69 on the
New York Stock Exchange