KEMET Increases Fiscal Year Revenue Growth Forecast - Quick Facts

(RTTNews) - KEMET Corp. (KEM) announced the company has revised its full fiscal year revenue growth forecast over last fiscal year to a range of 11.0% to 13.0%, up from 4.0% to 6.0%.

"We started the fiscal year strong with mix, shipments, and orders exceeding expectations, as well as some new capacity coming online. This is the tenth consecutive quarter of revenue growth, quarter over quarter, and our view looking into the next quarter is that we could see another 2.0% to 4.0% revenue growth for the September quarter over June," stated Per Loof, the company's CEO.

For the first-quarter, non-U.S. GAAP adjusted net income was $32.5 million or $0.55 per diluted share compared to $19.1 million or $0.33 per diluted share, prior year. Net sales were $327.6 million, up 19.6% from $273.9 million, prior year.