AVX Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2017. For the quarter, the company reported net sales of $431,795,000 compared to $340,799,000 a year ago. Profit from operations was $45,331,000 compared to $50,941,000 a year ago. Income before income taxes was $47,552,000 compared to $52,346,000 a year ago. Net loss was $93,212,000 or $0.55 per basic and diluted share compared to income of $35,519,000 or $0.21 per basic and diluted share a year ago. Sales in the December quarter reflect a typical holiday seasonality, which primarily influences the U.S. and Europe, as customers close production facilities.

For the nine months, the company reported net sales of $1,115,842,000 compared to $983,083,000 a year ago. Profit from operations was $132,548,000 compared to $118,479,000 a year ago. Income before income taxes was $140,936,000 compared to $127,678,000 a year ago. Net loss was $26,910,000 or $0.16 per basic and diluted share compared to income of $91,928,000 or $0.55 per basic and diluted share a year ago.

The company currently anticipates the total company sales in the March quarter 2018, which will include an approximately $30 million reduction in the Kyocera product resale activity with the remainder of the company's business sales increasing in the 2% to 3% range. The company estimates that the gross profit margins in the March quarter will be in the 19% to 20% range. Consolidated sales, general and administrative expense should come in between $37 million and $38 million. The blended tax rate should approximately be 27%.