FORT LAUDERDALE, Fla. (AP) — Kemet Corp. (KEM) on Thursday reported fiscal third-quarter earnings of $40.8 million.
On a per-share basis, the Fort Lauderdale, Florida-based company said it had profit of 69 cents. Earnings, adjusted to extinguish debt and for non-recurring costs, came to $1.07 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.
The electronic capacitor maker posted revenue of $350.2 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $353.4 million.
Kemet shares have increased 21 percent since the beginning of the year. The stock has increased 6 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KEM at https://www.zacks.com/ap/KEM
