COLUMBIA -- Kemet Corp. says sluggish demand for electronics products continued to affect its earnings and the company wrapped up its fiscal year with a loss.

On Monday, the company reported a $16.5 million loss for the quarter that ended March 31, compared with a loss of $14.4 million in the same quarter a year ago. The losses were equal to 19 cents a share in the 2003 period and 17 cents a share in the previous year.

Sales were $106.5 million for the quarter ending March 31, down from $117.9 million for the same period last year.

For the year, Kemet lost $56 million, or 65 cents a share, compared with a loss of $27.3 million, or 32 cents a share, for the previous fiscal year. Sales were down to $447.3 million from $508.6 million.

President and Chief Executive Officer Jeffrey Graves said shipments were up 7 percent from the third quarter, which ended Dec. 31, but market prices dropped 5 percent.

"As Kemet always has done in the past, we will continue cost reduction efforts at the bottom of this cycle," Graves said.

The company, which makes electronic components used in cellular phones and computers, laid off 280 workers in January.

Kemet stock closed up 43 cents at $8.81 a share in Tuesday's trading on the New York Stock Exchange.

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