IXYS Corp. reported net revenues of $71.9 million for the second fiscal quarter ended 9/30/2006, an increase of 13.4%, as compared with net revenues of $63.4 million for the same period in the prior fiscal year. For the six months ended 9/30/2006, IXYS reported net revenues of $139.6 million, an increase of 10.2% as compared with net revenues of $126.7 million for the same period in the prior fiscal year.
"We experienced record revenues and bookings in the September quarter, and have had three consecutive quarters of record backlog. European and Asian sales have been especially strong; the USA market remained stable. We continue to see increased demands for our unique power semiconductors in the industrial markets and the alternative renewable energy markets. Our IC products are selling strongly in the telecommunications and power managements markets," said Dr. Nathan Zommer, Chief Executive Officer.
Gross profit was $22.1 million, or 30.8% of net revenues, for the quarter ended 9/30/2006, as compared to gross profit of $21.2 million, or 33.5% of net revenues, for the same quarter in the prior fiscal year. Gross profit for the six months ended 9/30/2006 was $44.0 million, or 31.5% of net revenues, as compared to gross profit of $42.4 million, or 33.4% of net revenues, for the same period in the prior fiscal year. Net income for the quarter ended 9/30/2006 was $3.8 million, or $0.11 per diluted share, as compared to $5.5 million, or $0.16 per diluted share, for the same quarter in the prior fiscal year. Net income for the six months ended 9/30/2006, was $28.1 million, or $0.79 per diluted share, as compared to net income of $10.7 million, or $0.30 per diluted share, for the same period in the prior fiscal year.
Results for the six months ended 9/30/2006 included adjustments in the quarter ended 6/30/2006 for the litigation provision and related tax effects of $21.4 million. Excluding the impact of the adjustments in the quarter ended 6/30/2006 for the litigation provision and related tax effects, net income for the six months ended 9/30/2006 would have been $0.18 per diluted share. The corporation repurchased 644,000 IXYS shares for $5.7 million during the September quarter.
