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Kemet reports increase in quarterly sales

Staff Report //February 7, 2018//

Kemet reports increase in quarterly sales

Staff Report //February 7, 2018//

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Greenville-based Kemet Corp., a global supplier of passive electronic components, reports a 1.6% increase in net sales for the company’s third quarter ending Dec. 31, 2017.

Net sales of $306.4 million for the quarter increased $4.9 million from net sales of $301.5 million for the prior quarter that ended Sept. 30, 2017. Net sales increased $43.1 million, or 16.4%, up from proforma net sales — including the Tokin acquisition — of $263.3 million at Dec. 31, 2016, according to a news release.

"What a difference a year makes. The December quarter ended much stronger than we had predicted as customers continued to request products after the Christmas holiday.  Sales compared to one year ago on a proforma basis were up 16.4% in a market that continues to be vibrant," said Per Loof, Kemet CEO, in the release. "We believe we have a digital platform in place that will help us manage the growth in the market and we are employing additional capital as quickly as possible to provide needed additional capacity beginning later this summer which will generate further revenue in the back half of our next fiscal year.”

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