KEMET sollte man kennen - 500 Beiträge pro Seite

[gourmet]

.. wenn man sich für den bereich halbleiter etc. interessiert. kemet stellt kondensatoren her und ist in dem markt einer der großen player.
im juni wurde angekündigt, daß das q1 die erwartungen (48.5 cents) um mehr als 50 % übertreffen wird. auf das jahr gerechnet haben wir hier ein unternehmen, das mit einem kgv von 10 bewertet wird und mehr als 50 % wachstum aufweist.

anbei noch eine kleiner bericht, der etwas die zukunftsaussichten beschreibt

Results to remain strong

The second half of this year will be as strong as the first six months, said Marshall Jackson, senior vice president of marketing at AVX, Myrtle Beach, S.C.

Last month, Merrill Lynch hiked its sales and earnings projections yet again for AVX, Kemet, and Vishay after "field checks revealed that the current cycle will provide at least another leg for these companies` stocks," Labowitz said.

Merrill Lynch expects passives maker AVX to reap earnings per share of $2.08 on sales of $2.39 billion in its current fiscal year, up from a previous estimate of $2.33 billion in sales and an EPS of $1.93. Merrill Lynch also raised its fiscal 2001 EPS estimate for Kemet to $2.50 on sales of $1.33 billion from an earlier net income forecast of $2.20 per share and sales of $1.25 billion. Vishay`s EPS was upped to $5 from $4.75 for the current year. The company`s sales target has been moved up to $2.3 billion from $2.33 billion.

The passive-component marketplace will remain extremely strong well into 2001, according to Dennis Zogbi, president of the Paumanok Group, Cary, N.C. More importantly, ASPs are robust right now, especially for tantalum capacitors, industry executives said.

ASPs for passive commodity products that are in short supply have been rising an average of 5% per quarter, which means that pricing, in theory, has increased roughly 15% this year over last and should be up by 25% by the end of the year, according to Vishay`s Smith.

Firmer and higher ASPs for passive components are reflected in improved gross margins for both AVX and Kemet. AVX`s gross margin, for instance, climbed to 26.3% in the quarter ended March 31, up from 11.4% in the year-ago period. Vishay`s gross margin during the first quarter reached 34.8%, vs. 23.6% in the same quarter a year ago.

"Ceramic capacitors containing palladium had substantially higher price tags than those containing base metal," Zogbi noted. Also, tantalum replacement devices such as high-capacitance ceramics and low equivalent series resistance aluminum electrolytic capacitors are also hard to get, he said.

The price of palladium, which is used to make MLCCs, shot up briefly to $800 per troy ounce in February, then settled down to roughly $650 an ounce in early June, said Gordon Basset, general manager of Johnson Matthey`s Precious Metals Division, Wayne, Pa. This is a significant increase from a range of $127 to $444 per troy ounce between 1996 and 1999.

Russia, the largest exporter of the precious metal, which is also used in other electronic components and in auto catalysts, shipped 5.4 million ounces of palladium in 1999, as opposed to 5.8 million in 1998. Based on palladium shipments from Russia so far, Bassett contends that country will export even less palladium this year.

"Last year, demand was over 9.3 million ounces worldwide, while only approximately 8 million ounces were shipped during that time, creating a 1.3 million-ounce deficit, which obviously contributed to the price hikes," he said.

Recently, the resistor market has also begun to show signs of tightening. Despite the procurement constraints facing OEMs, and the obvious advantages higher manufacturing capacity presents to suppliers, they have been hesitant to significantly raise capital expenditures, Merrill Lynch`s Labowitz said.

This reluctance is in response to the oversupply situation in 1997, Smith said. "It looks like it will be the end of the first or second quarter of 2001 before supply and demand start to even out," he added.

[gourmet]

KEMET Reports Record Sales and Earnings for First Quarter of Fiscal 2001; Sequential Quarterly Earnings Double
GREENVILLE, S.C., July 24 /PRNewswire/ -- KEMET Corporation (NYSE: KEM - news) today reported record sales and earnings for the first fiscal quarter ended June 30, 2000. Sales for the quarter were $329.2 million, compared with $162.6 million for the same quarter last year. Net earnings for the period were $80.2 million, or $0.90 per share, compared with $4.7 million, or $0.06 per share, for the prior year period.

``KEMET`s sales, earnings and bookings for the first quarter of our fiscal year 2001 were once again at all-time record levels,`` stated David E. Maguire, Chairman and CEO. ``The momentum of quarterly increases in revenue and income continues at a robust pace with 28% sequential growth in revenues and 111% sequential growth in earnings. These rates of growth for the quarter were enabled by an 11% increase in unit volume, a 10% increase in selling prices, and a more favorable product mix toward higher-valued capacitors for the telecommunications, computer, and internet infrastructure market segments of our business. Demand for tantalum and ceramic capacitors continues to exceed industry capacity, leading to ongoing customer concerns about future capacitor shortages. These concerns are being partially met as we continue to execute and initiate long-term supply agreements which effectively commit our future capacity expansions. For non-contract customers and distributors, pricing continues upward, with recently announced increases effective in the September quarter. The outlook for our future business continues to be outstanding for both our shareholders and our employees.``

Sales of surface-mount capacitors increased 119% to $294.1 million for the quarter, compared with $134.2 million for the prior year quarter, while sales of leaded capacitors totaled $35.1 million, compared with $28.4 million for the same quarter last year. Export sales, led by strong sales in both Europe and Asia, increased 132% to $174.8 million, compared to $75.2 million in the prior period.

Earnings before depreciation, amortization, interest and taxes (EBDAIT) for the first quarter of fiscal 2001 were $140.9 million, compared with $24.3 million for the first quarter of fiscal 2000.

KEMET Corporation, headquartered in Greenville, South Carolina, is the largest manufacturer of solid tantalum capacitors and the fourth largest manufacturer of multilayer ceramic capacitors in the world. KEMET`s common stock is listed on The New York Stock Exchange under the symbol KEM. Company information is available via the Internet (http://www.kemet.com ).

This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 involving risks and uncertainties discussed in detail in the Company`s Securities and Exchange Commission filings and reports, including the Company`s 2000 Annual Report to stockholders. Actual results may vary due to these or other risks and uncertainties.


KEMET CORPORATION AND SUBSIDIARIES
Unaudited Financial Highlights
(Dollars in Thousands, Except Per Share Data)

Three Months Ended June 30,
2000 1999
Income Statement Data:
Net sales $329,169 $162,649
Cost of goods sold, exclusive of
depreciation 169,836 122,984
Selling, general and administrative
expense 12,861 10,944
Research, development and engineering 5,622 4,388
Depreciation and amortization 15,264 13,040

Operating income 125,586 11,293

Interest expense 1,836 2,734
Interest income (3,039) --
Other expense 3,352 1,656
Income taxes 43,203 2,209

Net earnings $80,234 $ 4,694

Earnings Per Share Data:
Net earnings per share:
Basic $0.92 $0.06
Diluted $0.90 $0.06

Weighted-average shares outstanding:
Basic 87,324,021 78,571,116
Diluted 88,915,971 79,778,122

Other Data:
Earnings before depreciation,
amortization, interest and income
taxes (EBDAIT) $140,850 $24,333

[gourmet]

die börse spielt verrückt

Morningstar.com
Another Tech Pick
By Pat Dorsey


While we`re on a roll with this whole ``stocks worth looking at`` thing, let me get another interesting stock idea off my chest, which flows from yesterday`s Nokia (NYSE: NOK - news) bloodbath. I promise to return to my usual ranting next week.

The Case for Kemet
Here`s a company that`s reported five straight quarters of accelerating earnings and sales growth, and that more than doubled its top line in the most recent quarter. Not bad. Of course, growth like this isn`t sustainable, and will likely slow to about 15% next year. However, 15% growth isn`t chopped liver by any means, and it`s mighty attractive when you`re only paying eight times forward earnings for the stock.

Yes, Kemet (NYSE: KEM - news) has a forward P/E of eight. (When`s the last time you saw a single-digit multiple? 1982?) This stock is so cheap that if the company made absolutely no money for the remaining three quarters of its fiscal year, it would trade at a forward P/E of 27--which still isn`t all that expensive.

So, why`s a company with rapid top- and bottom-line growth selling for so little? First of all, it`s in a really, really boring industry to which nobody pays a lot of attention. Kemet makes capacitors, which are a key component in electronic products like mobile phones and laptop computers. Although capacitors aren`t terribly sexy, they are important to electronic equipment, and there aren`t all that many companies that manufacture them.

Moreover, Kemet happens to be the leader in making a type of capacitor that`s frequently used in cell phones, which means that strong growth in the mobile handset market is a very good thing for the company. What`s odd is that even though Nokia`s troubles yesterday were related to a forecast from the company of lower profit margins next quarter--not lower handset volumes--Kemet still sold off about 10%.

But this brings us to the second reason why Kemet is so cheap, which is that the capacitor business is very cyclical, and that it`s very tough to predict how much the company will make more than a couple of quarters into the future. Now, while I`ll grant that this sort of uncertainty merits some type of discount to Kemet`s stock valuation, the shares are currently priced as if the entire capacitor market is about to fall off a cliff. If you look at the strength of demand in the electronics business, this seems rather unlikely.

While I don`t think this is a stock you would want to buy and lock away for a few years, given the cyclicality of the industry, Kemet does seem unreasonably cheap right now. You could probably do pretty well by buying the stock here and hanging onto it for a little while, as long as you don`t get greedy. An interesting speculation, at least.

Etc.
Of course, if you`re looking for a stock that you could buy now and hang onto for a few years, Nokia (NYSE: NOK - news) would be an excellent candidate, as my colleague Todd Bernier pointed out yesterday. The company`s problems are very short-term in nature, and after Thursday`s sell-off you`ve got a golden opportunity to pick up shares of an industry leader at a price that--while not cheap--is 25% less than it was 24 hours ago. Nokia is still the horse to beat in mobile handsets.

[gourmet]

gestern hat kemet sehr gute zahlen gemeldet. aber lest selbst (der wert gibt dennoch heute etwas nach)

KEMET Reports Record Sales and Earnings for Second Quarter of Fiscal 2001
GREENVILLE, S.C., Oct. 23 /PRNewswire/ -- KEMET Corporation (NYSE: KEM - news) today reported record sales and earnings for the second fiscal quarter ended September 30, 2000. Net sales for the quarter increased 95% to $364.1 million, compared with $186.2 million for the same quarter last year. Net earnings were $96.3 million, or $1.08 per diluted share, compared with $9.2 million, or $0.11 per diluted share, for the same period last year.

``I am pleased to report excellent results for the fifth consecutive quarter,`` stated David E. Maguire, Chairman and CEO. ``KEMET`s sales, earnings and bookings for the second quarter of our fiscal year were once again at all- time record levels. Sequentially, our revenues grew 10.6% and our earnings 20.0%. Demand for most of our tantalum and ceramic multilayer capacitors continues to exceed industry capacity, especially in the large case sizes, and we have adjusted our capacity increases to better reflect these changes in demand. Looking ahead, we expect revenues to continue to grow in the range of 5-10% over the remainder of fiscal year 2001. This growth should come from a combination of volume, product mix, and price increases.

``The tremendous growth of our industry this year has resulted in tight supplies of tantalum raw material, and some tantalum powder suppliers have already announced price increases of as much as 60%. We expect to negotiate a pass-through of these increases to our customers. Meanwhile, we are exploring all available avenues to increase our immediate supply of tantalum powder and wire for the manufacture of tantalum capacitors. Some tantalum ore producers are already initiating capacity expansions, which should correct the supply/demand imbalance.

``Shipments of our new solid aluminum organic capacitor, the AO-CAP, are scheduled to begin this quarter. We expect to ship about $10 million this fiscal year and $75-$100 million in fiscal year 2002. These solid aluminum surface-mount capacitors, along with our high-capacity multilayer ceramic capacitors, complement our high-performance tantalum products in the rapidly growing demand for large, high-frequency capacitors for power decoupling. We will give high priority to a rapid capacity ramp-up for these products over the next twelve months. Through the second quarter of fiscal year 2001, we have spent approximately $119 million on new capacity and expect to spend a total of approximately $240 million by the end of this fiscal year. Overall, we are comfortable with the range of analysts` current consensus estimates for the balance of fiscal year 2001. We expect to see growth in revenues of approximately 15-20% for fiscal year 2002 when compared with fiscal year 2001, and we plan capital expenditures of about $150 million for fiscal year 2002.``

Sales of surface-mount capacitors increased 104% to $325.8 million for the quarter, compared with $159.8 million for the prior-year quarter, while sales of leaded capacitors totaled $38.3 million, compared with $26.4 million for the same quarter last year. Export sales, led by strong increases in both Europe and Asia, increased 107% to $189.5 million, compared with $91.6 million for the same period last year.

Earnings before depreciation, amortization, interest and taxes (EBDAIT) for the second quarter of fiscal year 2001 were $168.7 million, compared with $32.7 million for the same quarter last year.

KEMET Corporation, headquartered in Greenville, South Carolina, is the largest manufacturer of solid tantalum capacitors and the fourth largest manufacturer of multilayer ceramic capacitors in the world. KEMET`s common stock is listed on The New York Stock Exchange under the symbol KEM. Company information is available via the Internet (http://www.kemet.com ).

This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 involving risks and uncertainties discussed in detail in the Company`s Securities and Exchange Commission filings and reports, including the Company`s 2000 Annual Report to stockholders. Actual results may vary due to these or other risks and uncertainties.

[Plotin]

also ich hab hier eine interessante Unternehmensmeldung gefunden:

During fiscal 2001, KEMET entered into a 50/50 joint venture agreement with Australasian Gold Mines NL (AGM) to establish an independent source of tantalum to meet the increasing demand for tantalum capacitors from key customers. This transaction closed in April 2001. KEMET`s initial investment in the joint venture is approximately $4.9 million, and KEMET acquired a 10 percent interest in AGM for approximately $2.3 million. KEMET also has the right to acquire all processed tantalum products from the initial production plant, which began operations in the March quarter, and from any future processing operations. These tantalum products are expected to be toll converted into tantalum powder necessary for the production of capacitors. KEMET anticipates that current mining operations will initially provide up to 10% to 15% of our annual tantalum requirements.




Wie ist das für kemet bzw. für (australasian gold mines) ate zu werten?