KEMET Announces Preliminary Q3 Revs $217-219M vs $232,7M
KEMET Corporation (NYSE: KEM) announced that the company's third fiscal quarter results are expected to be below the company's previous outlook due to softening demand in its European and Asian markets, as well as continued distribution inventory rebalancing. The company now expects third quarter revenue to be approximately $217 million to $219 million, lower than the previous expectation range of $228 million to $238 million. Third quarter order-intake was up slightly over second quarter, and the company believes that its market share remains unchanged.
The company now expects the third quarter consolidated gross margin as a percent of net sales to be in the 18% to 19% range, lower than the previous gross margin guidance as a percent of net sales range of 19% to 22%.
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