Electronic components maker AVX narrowly tops Wall Street earnings estimate for fiscal 3rd qtr

AVX narrowly tops earnings estimates for 3Q

MYRTLE BEACH, S.C. — AVX Corp., a manufacturer of passive electronic components, on Friday reported fiscal third-quarter results that slightly beat analyst estimates.

The Myrtle Beach, S.C., company posted net income of $40.4 million, or 24 cents per share, on $335 million in revenue for the quarter ended Dec. 31. That compares with net income of $23.9 million, or 14 cents per share, on revenue of $320.6 million in the same period a year before.

Excluding special items, the company reported earnings of 22 cents per share for the latest quarter.

According to an analyst poll by Thomson Reuters, Wall Street expected AVX to post earnings of 21 cents per share on $326.7 million in revenue. Analysts typically exclude one-time items from their estimates.

AVX’s shares slid 52 cents, or 4.2 percent, to $12.01 in afternoon trading.

(This version CORRECTS company narrowly beat estimtates instead of missed.)