Diodes Reports Third-Quarter 2002 Results

October 30, 2002 by Jeff Shepard

Diodes Inc. (Westlake Village, CA) reported financial results for the third quarter ended September 30, 2002. Revenues for the third quarter of 2002 were $30.3 million, a slight sequential increase from second-quarter revenues of $29.9 million, and a 33.4 percent increase from third-quarter 2001 revenues of $22.7 million.

Net income for the quarter was $1.8 million, as compared to a loss of $847,000 for the three months ended September 30, 2001, and compared to income of $1.6 million in the second quarter ended June 30, 2002. Diluted earnings per share were $0.20 for the third quarter of 2002, as compared to $0.10 for the same period last year, and $0.18 for the second quarter of 2002.

For the first nine months of 2002, the company earned $3.5 million, or $0.40 per diluted share, on revenues of $87.2 million, compared to net income of $199,000, or $0.02 per diluted share, on revenues of $69.4 million for the same period in 2001. Nine-month revenues have increased 25.5 percent compared to last year.