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:
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:
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.
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.
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.
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email email@example.com. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Pro-Trader Daily