GREENVILLE, SC  -- Kemet Corp. today reported December quarter net sales of $95.5 million and a loss before charges of $18.6 million. The company also took $20.3 million in one-time charges for the quarter.

The company reported revenues of $111.3 million last year and $106 million last quarter.
The GAAP loss was $13.1 million a year ago and $7.5 million sequentially.

Kemet was hurt by excess inventory especially at distributors, said
CEO Dr. Jeffrey Graves, in a press statement. He said indications are
that inventory declines may continue. 

Average selling prices fell 1% during the quarter.

Surface-mount capacitors made up 82% of the company's sales for the December quarter.

By region, 43% of sales were in North America, 35% in Asia and 21% in Europe.

Nearly half -- 49% -- of sales were to distributors, 27% were to EMS customers and 24% were to OEMs.