IXYS Corp. reported net revenues of $74.0 million for the fourth fiscal quarter ended March 31, 2007, an increase of 14.9%, as compared with net revenues of $64.4 million for the same period in the prior fiscal year. This is the fifth quarter of consecutive revenue growth for the company. For the fiscal year ended March 31, 2007, IXYS reported record net revenues of $285.9 million, an increase of 13.7%, as compared with net revenues of $251.5 million for the prior fiscal year.
Gross profit was $17.9 million, or 24.1% of net revenues, for the quarter ended March 31, 2007, as compared to gross profit of $20.4 million, or 31.6% of net revenues, for the same quarter in the prior fiscal year. Gross profit for the fiscal year ended March 31, 2007 was $84.3 million, or 29.5% of net revenues, as compared to gross profit of $81.7 million, or 32.5% of net revenues, for the prior fiscal year. The bankruptcy of All-American Semiconductor, Inc., a large semiconductor distributor in the U.S., adversely affected gross profit and net income.
Net income for the quarter ended March 31, 2007, was $755,000, or $0.02 per diluted share, as compared to $30.3 million, or $0.85 per diluted share, for the same quarter in the prior fiscal year. Net income for the fiscal year ended March 31, 2007, was $28.7 million, or $0.83 per diluted share, as compared to net loss of $6.1 million, or $0.18 loss per diluted share, for the prior fiscal year.
"We have ended our fiscal year with record revenues – backed by the strength of our manufacturing strategy and product innovation in Europe and Asia," said Dr. Nathan Zommer, Chief Executive Officer. "We continue to introduce products that address the needs of our core customer markets, while entering developing markets with innovative products. These developments portend business growth and margin growth for the long term."
