IXYS Reports Profitable Fiscal 2002 Results
IXYS Corp. (Santa Clara, CA) released its financial results for its fourth fiscal quarter and its fiscal year ended March 31, 2002. For the fourth fiscal quarter ending March 31, 2002, net revenues were $20.4 million, compared with net revenues of $32.0 million, reported for the same period in fiscal year 2001.
Although still generating an operational profit, legal and other expenses resulted in a net loss for the fiscal quarter ending March 31, 2002, of $374,000, or $0.01 per diluted share, as compared to an income of $3.8 million, or $0.13 per diluted share, in the same period for the prior fiscal year. For the fiscal year ended March 31, 2002, IXYS reported net revenues of $82.8 million, compared to net revenues of $111.4 million for the prior fiscal year. Net income for the fiscal year ended March 31, 2002, was $2.1 million, or $0.07 per diluted share, a decrease from the $13.6 million, or $0.49 per diluted share, reported for the prior fiscal year.
"We have just ended a fiscal year that was very challenging for IXYS and difficult for the industry. Despite declines in revenues and margins, IXYS was able to generate net income of $2.1 million, which indicates our upside potential in a recovering market," stated IXYS President and CEO Nathan Zommer. "We took advantage of the lull in the economy and acquired Westcode Semiconductors Ltd. (UK). This broadened our product offering and added more customers and technical expertise to IXYS."