Diodes Reports Third-Quarter 2001 Results

November 04, 2001 by Jeff Shepard

Diodes Inc. (Westlake Village, CA) reported financial results for the third quarter ended September 30, 2001. Revenues for the third quarter were $22.7 million, a sequential increase of eight percent from the second quarter of 2001, but a 29.8 percent decrease as compared to $32.3 million for the third quarter of 2000.

Third-quarter results include the effect of a $650,000 charge related to distribution pricing adjustments taken during the quarter, and a $400,000 inventory write-down due to declines in wafer pricing. The company reported a net loss of $847,000, or $0.10 per diluted share, as compared to net income of $4.7 million, or $0.50 per share, for the three months ended September 30, 2000.

For the first nine months of 2001, the company earned $199,000, or $0.02 per diluted share, on revenues of $69.4 million, compared to net income of $12.1 million, or $1.31 per diluted share, on revenues of $92.4 million for the same period in 2000.

Commenting on the quarter, C.H. Chen, Diodes' president and CEO, said, "In what continues to be a very tough market climate, Diodes has maintained our focus on growing market share, aggressive cost containment, and continuing our excellence in manufacturing and customer service. We introduced a range of new products in the third quarter that improve the trade-off between size, performance and power consumption for surface-mount discrete devices. And we continue to develop proprietary technologies, such as our new performance Zener design, that will position Diodes as a technology leader for discrete devices as the semiconductor industry cycle improves."