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News Breaks
July 29, 2014
08:34 EDTAVXAVX reports preliminary Q1 EPS 24c, consensus 17c
Reports preliminary Q1 revenue $350.6M, consensus $356.33M. CFO Kurt Cummings, stated, "We generated approximately $78M of cash flow from operations in the quarter as a result of higher net income, lower capital spending and favorable changes in working capital. We continued to use our resources to provide value to our stockholders by paying $16M in dividends." Chairman and CEO, John Gilbertson, stated, "We saw improved Q1 operating results reflecting our focus on the sale of higher value-added components, sales margin management and cost control. The operating profit margin improved to 15.8%, compared to 10.6% for the same quarter last year. Orders for our components and interconnect devices increased this quarter and we are optimistic that the continuing evolution of new electronic devices and improving market confidence will provide growth opportunities during the balance of the fiscal year."
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