Diodes Inc. (Westlake Village, CA) reported financial results for the first quarter of fiscal year 2002 ended March 31, 2002. Revenues for the first quarter of 2002 were $26.9 million, a sequential increase of 4.4 percent from the fourth quarter of 2001, and an increase of 4.6 percent from the first quarter of 2001.
Net income for the quarter was $208,000, as compared to $521,000 for the three months ended March 31, 2001, and compared to a net loss of $76,000 in the fourth quarter ended December 31, 2001. Diluted earnings per share were $0.02 for the first quarter of 2002, as compared to $0.06 for the same period last year.
Diodes President and CEO C.H. Chen said, "We are encouraged by our progress in the first quarter and we are especially pleased to report that Diodes has returned to profitability. After several very challenging quarters in the semiconductor industry, we are starting to see signs of renewed industry growth with increased capacity utilization rates and lower customer inventories. A combination of these factors, cost-containment measures, new products and new customers enabled Diodes to achieve positive net income for the quarter."
