AVX Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2015. For the quarter, the company reported net sales of $287,047,000 compared to $321,687,000 a year ago. The sales decline from the three month period ended December 31, 2014, is due to generally weaker global economic conditions and the negative impact on reported sales resulting from the strength of the U.S. Dollar versus many other currencies, as well as the reduction in sales of Kyocera Resale Connector products in the Asian region. Profit from operations was $30,827,000 compared to $50,387,000 a year ago. Income before income taxes was $32,908,000 compared to $52,712,000 a year ago. Net income was $26,814,000 or $0.16 per basic and diluted share compared to $38,953,000 or $0.23 per basic and diluted share a year ago. Non-GAAP net income was $29,374,000 or $0.17 per diluted share compared to $38,953,000 or $0.23 per diluted share a year ago.

For the nine months, the company reported net sales of $891,924,000 compared to $1,037,681,000 a year ago. The sales decline from the nine month period ended December 31, 2014, is due to generally weaker global economic conditions and the negative impact on reported sales resulting from the strength of the U.S. Dollar, as well as the reduction in sales of Kyocera Resale Connector products in the Asian region as noted above. Profit from operations was $117,248,000 compared to $166,079,000 a year ago. Income before income taxes was $122,339,000 compared to $169,679,000 a year ago. Net income was $90,310,000 or $0.54 per basic and diluted share compared to $124,345,000 or $0.74 per basic and diluted share a year ago. Non-GAAP net income was $96,806,000 or $0.57 per diluted share compared to $124,345,000 or $0.74 per diluted share a year ago.