Research Desk Line-up: Qualstar Post Earnings Coverage
LONDON, UK / ACCESSWIRE / November 21, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on AVX Corp. (NYSE: AVX), which can be viewed by registering at http://protraderdaily.com/optin/'symbol=AVX, following the Company's announcement of its financial results on October 25, 2017, for the second quarter fiscal 2018. The manufacturer of electronic components' EPS was in-line with analysts' expectations. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
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Get more of our free earnings reports coverage from other constituents of the Diversified Electronics industry. Pro-TD has currently selected Qualstar Corporation (NASDAQ: QBAK) for due-diligence and potential coverage as the Company announced on November 08, 2017, its financial results for Q3 FY17 which ended on September 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Qualstar when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on AVX; also brushing on QBAK. With the links below you can directly download the report of your stock of interest free of charge at:
http://protraderdaily.com/optin/'symbol=AVX
http://protraderdaily.com/optin/'symbol=QBAK
Earnings Reviewed
For three months ended September 30, 2017, AVX's revenues increased 7.7% to $352.69 million from $327.46 million in Q2 FY17.
During Q2 FY18, AVX's gross profit increased 25% to $77.27 million from 61.80 million in the same period last year. For the reported quarter, the Company's gross margin increased 300 basis points to 21.9% of revenue from 18.9% of revenue in Q2 FY17. The increase was due to new design wins along with increased demand from customers for value-added components and interconnect devices and continued focus on manufacturing efficiencies and cost reductions.
For the reported quarter, AVX's selling, general, and administrative (SG&A) expenses increased 11.8% to $32.49 million from $29.05 million in Q2 FY17.
During Q2 FY18, AVX's operating income increased 36.7% to $44.79 million from $32.75 million in the same period last year. For the reported quarter, the Company's operating margin increased 270 basis points to 12.7% of revenue from 10% of revenue in the second quarter of 2017.
For the reported quarter, AVX's net income increased 31.3% to $34.82 million on a y-o-y basis from $26.52 million in Q2 FY17. During Q2 FY18, the Company's diluted EPS increased 31.3% to $0.21 on a y-o-y basis from $0.16 in the same period last year. Diluted EPS was in-line with analysts' expectations of $0.21.
AVX's Segment Details
Passive Components - During Q2 FY18, the Passive Components segment's revenue increased 9.7% to $234.91 million from $214.14 million in the same period last year. For the reported quarter, the segment's operating income increased 23.8% to $51.30 million from $41.43 million in Q2 FY17.
AVX Interconnect - During Q2 FY18, the Company's AVX Interconnect segment's revenue increased 11.7% to $32.58 million from $29.17 million in the same period last year. For the reported quarter, the segment's operating income decreased 25.6% to $3.37 million from $4.53 million in Q2 FY17.
KED Resale - During Q2 FY18, KED Resale segment's revenue increased 1.3% to $85.21 million from $84.15 million in the same period last year. For the reported quarter, the segment's operating income decreased 6.6% to $4.78 million from $5.12 million in Q2 FY17.
Balance Sheet
As on September 30, 2017, AVX's cash and cash equivalents increased 6.9% to $618.79 million from $578.63 million on March 31, 2017.
For the reported quarter, the Company's net accounts receivable increased 5.3% to $196.54 million from $186.80 million in the fourth quarter of 2017. For the reported quarter, the Company's accounts payable decreased 2.8% to $78.17 million from $80.44 million in Q4 FY17.
During H1 FY2018, the Company's cash provided by operating activities increased 23.2% to $128.43 million from $104.29 million in the same period last year.
On October 2, 2017, AVX completed the acquisition of the TS&C division of TT Electronics, PLC, a United Kingdom Company, for $156.0 million in cash.
Stock Performance
At the closing bell, on Monday, November 20, 2017, AVX Corp.'s stock marginally climbed 0.61%, ending the trading session at $18.16. A total volume of 126.87 thousand shares have exchanged hands. The Company's stock price surged 7.84% in the last three months, 12.24% in the past six months, and 20.50% in the previous twelve months. Moreover, the stock rallied 16.19% since the start of the year. The stock is trading at a PE ratio of 22.53 and has a dividend yield of 2.53%. The stock currently has a market cap of $3.05 billion.
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