IXYS Reports Third-Quarter 2001 Results

February 07, 2002 by Jeff Shepard

IXYS Corp. (Santa Clara, CA) reported third-quarter revenues of $16.1 million, down 45 percent from $29.2 million last year and 23 percent below the $20.7 million reported in the previous quarter. For the nine-month period that ended December 31, 2001, IXYS reported that revenues fell 21 percent to $62.4 million from $79.4 million last year.

For the nine-month period, net income was $2.5 million, or $0.09 per diluted share, down 74 percent from $9.8 million, or $0.35 per diluted share, last year. IXYS posted a net loss of $105,000, or $0.00 per diluted share, for the quarter, compared with income of $3.4 million, or $0.12 per diluted share, a year ago.

"The market continues to be weak and unpredictable, but we continue to show operating income," stated Arnold Agbayani, CFO of IXYS. "Our gross margin, although lower than what we would want to see, is relatively stable and we continue to invest in research and new product development. We expect revenues for our March 2002 quarter to show a 20 percent sequential increase."