KEMET Corporation (OTC:KEME) Capacitance Stock Strikes New 52 Week High

By StockFrontRunners on Jun 16, 2010 with Comments 4

After almost two years of doldrums, KEMET Corporation (OTC:KEME) stock returns its high capacity.

The latest developments and the positive research reports shot KEME shares to a new 52 week high.

Yesterday, the traded under $5 KEME stock jumped by 31 cents, or 14.90%, to $2.39 during the session.

Investors appreciated the increase in the share price, expressed by a volume of 1.31 million shares, which was more than the tripled three-months average turnover.

KEME stock started its revival at the beginning of April. Then, the company announced its fourth quarter forecast and plans to focus on producing specialty products in Europe and the U.S., along with shifting standard and commodity production to lower cost regions.

Announced in May, KEME financials confirmed the optimistic expectations of investors. There, in addition to the good financial standing, the company reported, that at the end of March, 32,172 new products were introduced, of which 249 were first to market. Specialty products accounted for 29.6% of KEME’s revenue over the fiscal year.

The most impressive information presented there, was the sharp improvement of net loss per share- basic and diluted. At the end of this March the net loss per share was $0.86, while for the previous fiscal year it was $3.54.[BANNER]

The milestone, that returned investors confidence in KEME stock, was that the company used a portion of the proceeds from the private placement to repay almost all of its outstanding debt.