AVX Corp. has reported preliminary unaudited results for its fiscal second quarter ended September 30, 2010. Revenue for the quarter was $430.6 million, an increase of 8.6% from the previous quarter and an increase of 38.7% from the second quarter of last year. Net income was $67.9 million, or $0.40 per share, for the 2010 quarter.
“The second quarter was another strong quarter for AVX,” said John Gilbertson, president and CEO. “Sales grew 8.6% sequentially and 38.7% compared to the same quarter last year, reflecting strengthening demand in a diverse range of our served end markets. Our continued focus on operating leverage and higher value-added components enabled us to further expand operating margins to 28.4% in the quarter, up from 25.9% in the previous quarter and 20.8% last year.”
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