Aerovox Restates Earnings Per Share

Business Wire, August 19, 1999

NEW BEDFORD, Mass.--(BUSINESS WIRE)--Aug. 19, 1999--

Aerovox Incorporated (Nasdaq/NM:ARVX) today announced that its second quarter and year-to-date earnings per share have been recalculated.

Basic and diluted earnings per share for the second quarter ending July 3, 1999 now equal $0.15, replacing a previously reported amount of $0.13 per share. Year-to-date 1999 earnings have been revised to $0.21 per share from a previously reported $0.20 per share. The change reflects the non-dilutive effect of securities issued in connection with the acquisition of Compania General de Electronica of Mexico City during the second quarter.

There were no other revisions to the financial statements for the second quarter ending July 3, 1999.

Aerovox manufactures film, paper and aluminum electrolytic capacitors. The Company sells its products worldwide, principally to original equipment manufacturers as components in electrical and electronic equipment. In addition to its plant in New Bedford, Massachusetts, Aerovox has operations in Huntsville, Alabama; Juarez and Mexico City, Mexico; and Weymouth, England.