Diodes Inc. Reports Fourth Quarter Results
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."