Aerovox Anticipates Third Quarter Loss.NEW BEDFORD New Bedford, city (1990 pop. 99,922), seat of Bristol co., SE Mass., at the mouth of the Acushnet River on Buzzard's Bay; settled 1640, set off from Dartmouth 1787, inc. as a city 1847. , Mass.--(BUSINESS WIRE)--Sept. 22, 1997-- Aerovox Incorporated (Nasdaq/NM:ARVX) announced today that its expectations for sales and earnings for the third quarter have been cut as a result of sharply lower bookings in its AC film capacitor lines. A loss is now expected for the quarter as production cutbacks among North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. air conditioning air conditioning, mechanical process for controlling the humidity, temperature, cleanliness, and circulation of air in buildings and rooms. Indoor air is conditioned and regulated to maintain the temperature-humidity ratio that is most comfortable and healthful. manufacturers have been deeper than anticipated. Air conditioning equipment constitutes a major market for Aerovox's motor run capacitors. In addition, demand from certain lighting and appliance manufacturers, both in the U.S. and abroad, did not develop according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. expectations. "Volume is holding up in Europe, and we continue to recover in our U.S. based aluminum electrolytic e·lec·tro·lyt·ic adj. 1. Of or relating to electrolysis. 2. Produced by electrolysis. 3. Of or relating to electrolytes. e·lec business," according to Aerovox President Robert Elliott. "This AC film capacitor sales shortfall in the U.S., however, strikes at our largest and historically strongest business." The company also announced a reduction in workforce at its New Bedford Plant of approximately 50 people. Aerovox Incorporated is a leading manufacturer of film, paper, and aluminum electrolytic capacitors. The company sells its products worldwide, principally to original equipment manufacturers of electrical and electronic equipment. Aerovox manufacturing operations are located in New Bedford, Massachusetts New Bedford is a city in Bristol County, Massachusetts, located about 51 miles (82 kilometers) south of Boston, 28 miles (45 kilometers) southeast of Providence, Rhode Island, and about 12 miles (19 kilometers) east of Fall River. ; Huntsville, Alabama; Juarez, Mexico; and Weymouth, England. CONTACT: Aerovox Inc. Jeffrey A. Templer (508) 910-3202 |
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