Kemet Turns To Profit In Q2

(RTTNews) - Kemet Corp. (KEM), a supplier of electronic components, reported that its net income for second quarter ended September 30, 2014 was $6.33 million or $0.12 per share compared to a loss of $13.10 million or $0.29 per share in the same quarter last year.

The U.S. GAAP net income from continuing operations was $7.7 million, or $0.15 per share for the quarter ended September 30, 2014, compared to a net loss from continuing operations of $11.9 million or $0.26 loss per share for the quarter ended September 30, 2013.

Non-U.S. GAAP Adjusted net income improved to $3.5 million or $0.07 per share , compared to a non-U.S. GAAP Adjusted net loss of $4.6 million or $0.10 loss per share last year.

Net sales of $215.3 million for the quarter increased 3.3% compared to net sales of $208.4 million last year.