IXYS Announces Record Profits in Third Quarter
IXYS Corporation reported net revenues of $60.3 million for the third fiscal quarter ended Dec. 31. That compares with net revenues of $66.3 million for the same period fiscal 2004.
Gross profit was $18.9 million, or 31.4% of net revenues, for the quarter as compared to gross profit of $20.1 million, or 30.3% of net revenues, for the same quarter in the prior year. Net income for the quarter was $4.4 million, or $0.12 per diluted share, as compared to a net income of $4.7 million or $0.14 per diluted share, for the same quarter in the prior fiscal year.
For the nine-month period ended Dec. 31, 2005, IXYS reported net revenues of $187.1 million, as compared with net revenues of $187.6 million for the same period in the prior year. Gross profit for the nine-month period ended Dec. 31, 2005, was $61.3 million, or 32.8% of net revenues, as compared to gross profit of $56.7 million, or 30.2% of net revenues, for the same period in the prior year. Net income for the nine-month period was $15.1 million, or $0.42 per diluted share, an increase of 44.4% as compared to net income of $10.5 million, or $0.30 per diluted share, for the same period in the prior year.
"Consistent with our long term growth plan, we are pleased to demonstrate cash and profit growth on a year-to-date basis. We have seen the sequential weakness and uncertainty of the consumer market and have positioned IXYS for further diversification, growth and improved gross margins," said Dr. Nathan Zommer, chief executive officer.
IXYS develops and markets primarily high-performance power and radio frequency semiconductors and control integrated circuits that are used in controlling and converting electrical power efficiently in power systems for telecommunication infrastructure, motor drives, medical systems and transportation. IXYS also serves emerging markets with digital and analog ICs that control flat-panel displays, medical instruments and telecommunication products.