IXYS Reports Fiscal 2003 Results
IXYS Corp. (Santa Clara, CA) released its financial results for its fourth fiscal quarter and its fiscal year ended March 31, 2003. For the fourth fiscal quarter ending March 31, 2003, IXYS reported record net revenues of $37.8 million, compared with net revenues of $20.4 million reported for the same period in fiscal year 2002, which represented 85.4% period-to-period revenue growth. For the fiscal year ended March 31, 2003, IXYS reported net revenues of $136.1 million, compared to net revenues of $82.8 million for the prior fiscal year, which represented 64.3% year-to-year revenue growth.
Net loss for the fiscal quarter ending March 31, 2003, was $5.6 million, or $0.18 per diluted share, as compared to a net loss of $582,000, or $0.02 per diluted share, in the same period for the prior fiscal year. Fourth-quarter results include a charge for excess and obsolete inventory of $7 million and litigation expenses of $2.4 million. Net loss for the fiscal year ended March 31, 2003, was $13.2 million, or $0.43 per diluted share, as compared to net income of $1.9 million, or $0.07 per diluted share, reported for the prior fiscal year.