IXYS Announces Results for the Third Fiscal Quarter Ended December 31, 2009
IXYS Corp. reported net revenues of $64.0 million for the third fiscal quarter ended December 31, 2009, as compared with net revenues of $58.3 million for the same period in the prior fiscal year. IXYS’ revenues in the December 2009 quarter increased by about 19.1% as compared to $53.7 million of the September 2009 quarter.
For the nine months ended December 31, 2009, IXYS reported net revenues of $166.7 million, as compared with net revenues of $215.3 million for the same period in the prior fiscal year.
"Revenue increases are attributed to broad demand across markets for our diversified products, as we saw consistency in industrial sales and an increase in consumer-related applications. Our IC products have gained market penetration with the expansion of our display driver ICs," commented Dr. Nathan Zommer, CEO of IXYS Corp.. "With the recent launch of six new products, we enhanced IXYS’ wide ranging power product portfolio, and we will continue our focus on new products in the high performance power, RF and IC semiconductor space."
Gross profit was $15.7 million, or 24.5% of net revenues, for the quarter ended December 31, 2009, as compared to gross profit of $12.7 million, or 21.7% of net revenues, for the same quarter in the prior fiscal year.
Gross profit for the nine months ended December 31, 2009 was $38.7 million, or 23.2% of net revenues, as compared to a gross profit of $61.2 million, or 28.4% of net revenues, for the same period in the prior fiscal year.
Net income for the quarter ended December 31, 2009 was $399,000 or $0.01 per diluted share, as compared to a net loss of $4.0 million, or $0.13 loss per share, for the same quarter in the prior fiscal year. Net loss for the nine months ended December 31, 2009 was $4.7 million, or $0.15 loss per share, as compared to net income of $7.6 million, or $0.23 per diluted share, for the same period in the prior fiscal year.
"We remain steadfast in our goals of delivering quality products, being fast to the market, nimble and maintaining low overhead. Excluding the effect of the $15 million bank borrowing, through our cash conservation efforts, our cash increased $4 million from September 30, 2009 to December 31, 2009," stated Uzi Sasson, President & CFO of IXYS. "Our bookings improved by about $22 million from the September 2009 quarter to the December 2009 quarter, indicating better market conditions ahead of us. While pleased with these latest developments, we remain concerned about the macroeconomic conditions affecting the industry and, therefore, will not provide any guidance."
