Diodes Reports Q4 and Year-End 2002 Results

February 05, 2003 by Jeff Shepard

Diodes Inc. (Westlake Village, CA) a manufacturer and supplier of discrete semiconductors, reported financial results for the fourth quarter and year ended December 31, 2002. Total revenues for the year 2002 increased 24.3 percent to $115.8 million from $93.2 million for the year 2001. Net income for year 2002 was $5.8 million, or $0.65 per diluted share, as compared to $124,000, or $0.01 per diluted share, for 2001.

Revenues for the fourth quarter were $28.7 million, a 12.7 percent increase from fourth-quarter 2001 revenues of $25.4 million, but a five percent sequential decrease from third-quarter 2002 revenues. Fourth-quarter net income increased to $2.3 million, as compared to a loss of $76,000 for the same period last year, and net income of $1.8 million for the third quarter of 2002. Diluted earnings per share increased to $0.25 for the fourth quarter as compared to a loss of $0.01 for the same quarter last year, and $0.20 in the third quarter of 2002.