News

# IXYS Announces Record Revenues For The Third Fiscal Quarter

January 27, 2011 by Jeff Shepard

IXYS Corp. announced results for its third fiscal quarter ended December 31, 2010. Net revenues for the quarter ended December 31, 2010 were $91.7 million, an increase of$27.7 million, or 43.3%, as compared to net revenues of $64.0 million for the same period in the prior fiscal year. Compared to the quarter ended September 30, 2010, December quarter revenues increased by$1.8 million. This period marks the sixth consecutive quarter of revenue growth.

For the nine months ended December 31, 2010, IXYS reported net revenues of $266.5 million, an increase of 59.9% as compared with net revenues of$166.7 million for the same period in the prior fiscal year.

Net income for the quarter ended December 31, 2010 was $7.3 million, or$0.23 per diluted share, as compared to net income of $399,000, or$0.01 per diluted share, for the same quarter in the prior fiscal year. Net income for the nine months ended December 31, 2010 was $20.7 million, or$0.65 per diluted share, as compared to net loss of $4.7 million, or$0.15 loss per share, for the same period in the prior fiscal year.

Gross profit was $29.1 million, or 31.7% of net revenues, for the quarter ended December 31, 2010, as compared to gross profit of$15.7 million, or 24.5% of net revenues, for the same quarter in the prior fiscal year. Gross profit for the nine months ended December 31, 2010 was $90.4 million, or 33.9% of net revenues, as compared to a gross profit of$38.7 million, or 23.2% of net revenues, for the same period in the prior fiscal year.

Backlog was $164.1 million at December 31, 2010, as compared to$91.8 million at December 31, 2009. Bookings were $95.8 million for the quarter ended December 31, 2010, as compared to$77.1 million for the comparable quarter of the prior year, an increase of 24.2%. Bookings were also 12.6% higher than the September 2010 quarter bookings of $85.1 million. "IXYS’ consistent backlog evidences the demand for our products, especially in emerging growth economies in Asia and in European industrial markets," said Dr. Nathan Zommer, Founder and CEO of IXYS Corporation. "Today, our products span the entire power spectrum from high power semiconductors to microcontrollers and we are proving to be a key supplier of power solutions for customers worldwide. In an era defined by power efficiency and renewable energy sourcing, IXYS continues to build upon its expertise in the high power and clean technology sectors." "In the past nine months, strong product demand has translated to record revenues, showcased by this quarter’s$91.7 million. Our \$164.1 million in backlog at the end of December 2010 demonstrates that we have a strong base for future business. However, we are cautiously optimistic and therefore project revenues for the March 2011 quarter to be similar to those recorded in the December 2010 quarter," stated Uzi Sasson, President and CFO of IXYS.