AVX Corp. was named to Fortune’s
“Fortune 40: Best stocks to retire on” in the magazine’s June 23, 2008, issue. The annual list credits AVX as a company with no debt that has consistently used available cash to boost its dividend and buy back stock. With a market cap of $2.3 billion (June 2, 2008) AVX manufactures and sells a broad passive and interconnect component product offering for today’s growing electronics market. AVX technology is at the core of future electronics applications, such as sustainable energy generation, exploration, transportation, advanced medical electronics, aerospace systems and communications for the mobile market.
“We are delighted and honored to be singled out by Fortune Magazine in this impressive list of companies. Our commitment to product innovation, diversification and quality has driven AVX in a consistent and profitable growth path, as evidenced by our strong operating performance and balance sheet. Our competitive markets, coupled with today’s uncertain global economic environment, are requiring both customers and investors to pay particular attention to the suppliers that can weather any storm,” said Pete Venuto, vice president of Sales.
The article highlights that as of June 2, 2008, AVX had a price-to-earning ratio of 15, as well as an 8% return on assets with $193 million of free cash flow generated during the previous 12 months. For more information, call (843) 448-9411, fax (843) 444-2864 or visit www.avx.com