Diodes Reports Q4, Year-End 2001 Results
Diodes Inc. (Westlake Village, CA) reported financial results for the fourth quarter ended December 31, 2001. Revenues for the fourth quarter were $25.8 million, a sequential increase of 13.6 percent from the third quarter of 2001, but a 1.2 percent decrease as compared to $26.1 million for the fourth quarter of 2000. Total revenues for the year 2001 were $95.2 million, as compared to $118.5 million for the year ended December 31, 2000.
Fourth-quarter net income improved sequentially due to increased sales and improved margins, from a loss of $847,000 in the third quarter of 2001. The company reported a fourth-quarter net loss of $76,000, or $0.01 per diluted share, as compared to net income of $2.7 million, or $0.31 per diluted share, for the three months ended December 31, 2000. Net income for the year ended 2001 was $124,000, or $0.01 per diluted share, as compared to a record $14.9 million, or $1.62 per diluted share, for year 2000.
C.H. Chen, Diodes' president and CEO, said, "While 2001 proved to be a universally challenging market climate for semiconductor companies, we believe that we have passed the worst of this correction and expect the industry climate to gradually improve in 2002. We are pleased to report that in 2001, Diodes succeeded in increasing our market share to record levels, generating positive cash flow from operations and a net profit, while improving our financial condition. More importantly, we have begun to position Diodes as a technology leader for discrete devices, significantly increasing our new product introductions and design wins.” </P