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Seeking Alpha reported the transcript from AVX Corporation’s (NYSE:AVX) conference call on Tuesday.
Seeking Alpha reported the transcript from AVX Corporation’s (NYSE:AVX) conference call on Tuesday.
AVX’s President and CEO, John Gilbertson said:
The June quarter flowed along with the general macro economy and sales came in about 2.5% from the March quarter at $353.2 million. The overall gross book-to-bill during the quarter was 1.06 to 1. The backlog during the quarter increased and this is a positive sign going forward.
During the quarter, we were impacted by customer’s uncertainty and particularly their reluctance to take any inventory beyond the immediate end market demand. The key word during the quarter was uncertainty. This uncertainty impacted prices and margin as long-term orders were limited and we walked away from some marginal business to hold up margins.