tootalljones
12 months ago
who wrote...I..I sold thousands of shares in the mid to high $20s.
Not as many as I did. I had far more than a million dollars worth of AVXL, and well over 2 million dollars worth when it opened at 30 bucks that more. And I was selling in the first half an hour for all I was worth, dumping. And I never use a limit price in these wacky circumstances because the market maker will take market orders first, at that limit price. The problem, as we both recall, was that if you tried to sell 7 or 8 thousand shares at once, market order, it would really hammer the price down like half a bucks or so, so you become the person who is hammering what is left in your own holdings....So you just gotta hold your nose and throw them on the market, 3 or 4 thousand shares at a time...and the stock as I recall closed that day around 26 bucks or so, something like that, and I could not dump my entire holdings, so the next morning I quickly drumped the balance.
And one of the points of this story is that the good investors here are not people now who are longs; they are terrible investors, dreamers. The good investors are the ones who can see something that is ridiculous in the market, like avxl being at 30 bucks a share, and make moves. You cannot be afraid in the market. Every time I get afraid, I do something stupid. Not once in a while, every time..l.....The bad avxl investors are those who post 4 or 6 or 10X per day. They should be in basic etfs and bonds, not this nutty sector, and most are only here because they got lucky once before and think they are now Warrent Buffett and Charlie..
1center
9 years ago
$AVX Corporation Announces Preliminary Fourth Quarter and Fiscal Year ResultsFont size: A | A | A
8:30 AM ET 4/26/16 | BusinessWire
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10:17 AM ET 4/26/16
Symbol Last % Chg
AVX
12.95 4.69%
Real time quote.
AVX Corporation (NYSE: AVX) today reported preliminary unaudited results for the fourth quarter and fiscal year ended March 31, 2016.
Chief Executive Officer and President, John Sarvis, stated, "We completed the fourth quarter of our fiscal year with net sales of $303.6 million and gross profit of $74.1 million, or 24.4%, reflecting solid operating performance in a marginally improving global economy. These results continue to reflect our focus on value added products for our customers. We continue to be optimistic in this challenging market. This optimism was bolstered by a modest build in our order backlog during the quarter. Furthermore, we expect that the continuing evolution of new electronic devices necessary in today's digital world will provide growth opportunities in the coming fiscal year as our customers introduce new products."
For the quarter ended March 31, 2016, net sales were $303.6 million compared to net sales of $315.5 million for the same quarter last year. The sales decline from the three month period ended March 31, 2015 is primarily due to generally weaker global economic conditions, our customers' cautious inventory management programs and a reduction in sales of Kyocera Resale Connector products in the Asian region. Effective April 1, 2015, Kyocera began selling such Kyocera manufactured connectors in Asia using Kyocera's sales force rather than having AVX resell such products in that region, which negatively impacted our sales by $6.6 million when compared to the same quarter last year.
On a U.S. GAAP basis, unaudited results include net income for the current quarter of $32.7 million, or $0.19 per diluted share, compared to net income of $101.5 million, or $0.60 per diluted share, for the quarter ended March 31, 2015. Non-GAAP net income (excluding special charges and net discrete income tax benefits) was $32.0 million, or $0.19 per diluted share, for the quarter ended March 31, 2016 compared to non-GAAP net income of $34.4 million, or $0.20 per diluted share, for the quarter ended March 31, 2015. During the current quarter, pre-tax special charges consisted of a $1.3 million charge ($0.8 million after-tax) related to a new environmental remediation demand related to a legacy environmental issue and a $0.4 million charge ($0.3 million after-tax) related to a recent jury finding with respect to an intellectual property lawsuit. Net income for the quarter also included a total of $1.7 million of favorable discrete income tax items. Net income for the quarter ended March 31, 2015 included a total of $67.2 million of favorable net discrete income tax items.
For the fiscal year ended March 31, 2016, net sales were $1,195.5 million compared to net sales of $1,353.2 million for the fiscal year ended March 31, 2015. The sales decline for the fiscal year ended March 31, 2016, is due to weaker global economic conditions and the negative impact on reported sales resulting from the strength of the U.S. Dollar, as well as a $46.4 million reduction in sales of Kyocera Resale Connector products in the Asian region as discussed above.
On a U.S. GAAP basis, unaudited results include net income for the fiscal year ended March 31, 2016 of $101.5 million, or $0.60 per diluted share, compared to net income of $225.9 million, or $1.34 per diluted share, for the fiscal year ended March 31, 2015. Non-GAAP net income (excluding special charges and net discrete income tax benefits) was $126.1 million, or $0.75 per diluted share, for the fiscal year ended March 31, 2016 compared to non-GAAP net income of $155.5 million, or $0.92 per diluted share, for the fiscal year ended March 31, 2015. For the fiscal year ended March 31, 2016, special charges consisted of $45.3 million in pre-tax charges ($29.0 million after-tax) related to intellectual property lawsuits and environmental remediation. Results for the fiscal year ended March 31, 2016 also included a total $4.4 million of favorable net discrete income tax items. Results for the fiscal year ended March 31, 2015 included a total $70.3 million of favorable net discrete income tax items.
1center
9 years ago
AVX..@11.99 #smallcap ..Bought a small starter watching. Not a good 2015, for AVX, or was it? A lot of legal issues dealt with (2015) and behind them now, 37.5m paid out in a settlement in the most recent 3rd Quarter ending Dec 31 2015. Also within the nine months... final payment of $122.1 million made on May 26, 2015, related to the New Bedford Harbor environmental matters...
Excellent balance sheet,... approximately $1 billion of cash, cash equivalents, and short-term and long-term investments in securities, $2,142.8 million of stockholders’ equity, and no debt.
Dividend Yield 3.55%... http://www.dividend.com/dividend-stocks/technology/diversified-electronics/avx-avx-corp/
Nine month net sales 891,924,000, and net income 68,870,000, .41c per share earnings
Outstanding Common Stock, 167,569,084 at February 3, 2016 Common
Company Information... AVX is a leading worldwide manufacturer and supplier of a broad line of passive electronic components and Interconnects.
We serve a broad range of markets including: computer, telecommunications infrastructure, cellular, industrial, automotive, consumer, military and medical sectors. In automotive, we are contributing toward new technologies for safety, engine control, infotainment and chassis control. In medical,
http://www.avx.com/about-avx/
A lot of recent new products released, for medical grade, and automotive apps.
http://www.avx.com/category/press-releases/
From Q3 ending Dec 31, 2015
Outlook
Near-Term:
With uncertain global geopolitical and economic conditions, it is difficult to quantify expectations for the remainder of fiscal 2016.
Near-term results for us will depend on the impact of the overall global geopolitical and economic conditions and their impact on
telecommunications, information technology hardware, automotive, consumer electronics, and other electronic markets. Looking
ahead, visibility is low and forecasting is a challenge in this uncertain and volatile market. We expect to see typical pricing pressure
in the markets we serve due to competitive activity. In response to anticipated market conditions, we expect to continue to focus
on cost management and product line rationalization to maximize earnings potential. We also continue to focus on process
improvements and enhanced production capabilities in conjunction with our focus on the sales of value-added and higher
capacitance passive electronic components to support today’s advanced electronic devices. If current global geopolitical and
economic conditions worsen, the overall impact on our customers as well as end user demand for electronic products could have
a significant adverse impact on our near-term results.
Long-Term:
Although there is uncertainty in the near-term market as a result of the current global geopolitical and economic conditions, we
continue to see opportunities for long-term growth and profitability improvement due to: (a) a projected increase in the longterm
worldwide demand for more sophisticated electronic devices, which require more advanced and higher capacitance passive
electronic components such as the ones we sell, (b) cost reductions and improvements in our production processes, and (c)
opportunities for growth in our Advanced Component and Interconnect product lines due to advances in component design
and our production capabilities. We have fostered our financial health and the strength of our balance sheet putting us in a good
position to react to changes in the marketplace as they occur. We remain confident that our strategies will enable our continued
long-term success.
Liquidity and Capital Resources
Liquidity needs arise primarily from working capital requirements, dividend payments, capital expenditures, and
acquisitions. Historically, we have satisfied our liquidity requirements through funds from operations and investment income from
cash, cash equivalents, and investments in securities. As of December 31, 2015, we had a current ratio of 10.4 to 1, approximately
$1 billion of cash, cash equivalents, and short-term and long-term investments in securities, $2,142.8 million of stockholders’
equity, and no debt.
Net cash provided by operating activities was $102.7 million in the nine months ended December 31, 2015 compared to $164.4
million of cash provided by operating activities in the nine months ended December 31, 2014. The decrease in operating cash
flow compared to the same period last year was primarily a result a final payment of $122.1 million made on May 26, 2015, related
to the New Bedford Harbor environmental matters discussed below and other changes in working capital.
Purchases of property and equipment were $33.8 million in the nine month period ended December 31, 2015 and $19.1 in the
nine month period ended December 31, 2014. Expenditures in the nine months ended December 31, 2015 were primarily made
in connection with the strategic expansion activities in the Czech Republic, Mexico and Greenville, South Carolina. We expect to
incur a total of approximately $45 to $50 million in capital expenditures in fiscal 2016. The actual amount of capital expenditures
will depend upon the outlook for end-market demand and timing of capital projects.
The majority of our funding is internally generated through operations and investment income from cash, cash equivalents, and
investments in securities. Since March 31, 2015, there have been no material changes in our contractual obligations or
commitments for the acquisition or construction of plant and equipment or future minimum lease commitments under
noncancellable operating leases. Based on our financial condition as of December 31, 2015, we believe that cash on hand, cash
expected to be generated from operating activities and investment income from cash, cash equivalents, and investments in
securities will be sufficient to satisfy our anticipated financing needs for working capital, capital expenditures, environmental cleanup
costs, pension plan funding, research, development and engineering expenses, acquisitions of businesses, and any dividend
payments or stock repurchases to be made during the next twelve months. Changes in demand may have an impact on our
future cash requirements; however, changes in those requirements are mitigated by our ability to adjust manufacturing capabilities
to meet increases or decreases in customer demand. We do not anticipate any significant changes in our ability to generate capital
or meet our liquidity needs in the foreseeable future.
http://investorrelations.avx.com/sites/avx.investorhq.businesswire.com/files/doc_library/file/AVX-20160205-10Q-20151231.pdf
10K ending March 31,2015
http://investorrelations.avx.com/sites/avx.investorhq.businesswire.com/files/doc_library/file/AVXCorporation_2015_10K.pdf
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jgrabar
5 years ago
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