IXYS Corp. reported net revenues of $53.7 million for the second fiscal quarter ended September 30, 2009, as compared with net revenues of $77.6 million for the same period in the prior fiscal year. IXYS’ September 2009 quarter revenues increased by about 10% when compared to the June 2009 quarter.
For the six months ended September 30, 2009, IXYS reported net revenues of $102.6 million, as compared with net revenues of $157.0 million for the same period in the prior fiscal year.
"We continue to push on all fronts in order to improve in our traditional markets and to increase our integrated circuit (IC) business demonstrated by the recent acquisition of LED driver IC and LCD display driver IC businesses that complement our internally developed LED and LCD display driver ICs," commented Dr. Nathan Zommer, CEO of IXYS Corp.. "We also focused on our European operations, reorganizing for efficiency, reduced overhead and improved bottom line performance."
Gross profit was $12.6 million, or 23.5% of net revenues, for the quarter ended September 30, 2009, as compared to gross profit of $23.8 million, or 30.7% of net revenues, for the same quarter in the prior fiscal year. At 23.5%, gross margin increased by 2.3 percentage points in the September quarter from 21.2% in the June 2009 quarter.
Gross profit for the six months ended September 30, 2009 was $23.0 million, or 22.4% of net revenues, as compared to a gross profit of $48.6 million, or 30.9% of net revenues, for the same period in the prior fiscal year.
Net loss for the quarter ended September 30, 2009 was $1.2 million, or $0.04 loss per share, as compared to a net income of $6.1 million, or $0.18 per diluted share for the same quarter in the prior fiscal year. Net loss for the six months ended September 30, 2009 was $5.1 million, or $0.17 per share, as compared to net income of $11.5 million, or $0.35 per diluted share, for the same period in the prior fiscal year.
The results for the quarter ended September 30, 2009 included restructuring charges of $1.0 million.
"In conjunction with a concerted sales effort, IXYS has streamlined expenses, evidenced by absolute dollar decreases in SG&A expenses in the past six quarters. Through our cash conservation efforts, our cash increased $3.6 million from June 30, 2009 to September 30, 2009," stated Uzi Sasson, COO & CFO at IXYS. "Our bookings improved by about $6.3 million from the June 2009 quarter to the September 2009 quarter. However, macroeconomic volatility persists and customer buying trends remain varied; consequently we will not provide a revenue forecast for the December 2009 quarter."
