Diodes Inc. Reports Fourth Quarter ResultsJanuary 27, 2000 by Jeff Shepard
Diodes Inc. (Westlake Village, CA) recently reported record revenues and earnings for the fourth quarter ended December 31, 1999. Revenues in the quarter were a record $23.2 million, compared with $14.9 million for the fourth quarter of the previous year, an increase of 56 percent. Net income for the quarter was a record $2.4 million, or $0.41 per share, compared with $412,000, or $0.08 per share, in the comparable period of 1998, an increase of more than 400 percent.
Revenues for the 12 months ended December 31, 1999, were a record $79.3 million, compared with $61.3 million for 1998, an increase of 29 percent. Net income for 1999 increased 107 percent to $5.6 million, or $1.02 per share, compared with $2.7 million, or $0.50 per share, last year.
"Diodes-China, our manufacturing facility on mainland China, was a major contributor to our record year," said Michael Rosenberg, president and CEO of Diodes. "As previously announced, our $4.5 million investment followed by our $6.5 million investment in Diodes-China will start contributing to financial results in the second and third quarters of 2000. Consequentially, should market conditions remain strong, we can expect an even greater contribution from Diodes-China in year 2000."