Apr 17, 2002 Myrtle Beach, SC
Electronic component maker AVX Corp. on Wednesday reported a quarterly loss, vs. a profit in the prior year, as sales dropped sharply amid sluggish demand.
The company also said it expects sales to rise about 5 percent in the quarter ending June 30 from the previous quarter's level and operating results to be similar to those in the fourth quarter.
The Myrtle Beach, South Carolina-based company posted a fourth-quarter net loss of $2.1 million, or 1 cent a share, compared with a profit of $124.8 million, or 71 cents a share, a year earlier.
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