KEMET Corp. Announces 69% Decline In Q3 Earnings

(RTTNews) - KEMET Corp. (KEM) reported a profit for third quarter that retreated from last year.

The company said its bottom line came in at $2.17 million, or $0.04 per share. This was down from $6.96 million, or $0.13 per share, in last year's third quarter.

Analysts had expected the company to earn $0.09 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 12.0% to $177.18 million. This was down from $201.31 million last year.

KEMET Corp. earnings at a glance:

-Earnings (Q3): $2.17 Mln. vs. $6.96 Mln. last year. -Earnings Decline (Y-o-Y): -68.8% -EPS (Q3): $0.04 vs. $0.13 last year. -EPS Decline (Y-o-Y): -69.2% -Analysts Estimate: $0.09 -Revenue (Q3): $177.18 Mln vs. $201.31 Mln last year. -Revenue Change (Y-o-Y): -12.0%