GREENVILLE, SC, Jan. 11 -- Kemet Corp. said today that December revenue was down 10% sequentially due to paring of inventories at its distributors. The parts maker said March revenue should improve compared to December.

Speaking at the Needham Growth Conference, chief executive Dr. Jeffrey Graves said, "During our last earnings conference call, we reported that Kemet distributors had built inventory of parts in the June quarter in anticipation of strong growth in their sales in the second half. When their sales growth was more moderate than they expected, in the September quarter they reduced inventory levels, resulting in reduced Kemet revenue in the September quarter. This inventory correction continued into the December quarter."

• Prev
• Next