Diodes Reports Third-Quarter 2001 Results
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."