Printer Friendly

DIODES ANNOUNCES RECORD THIRD QUARTER REVENUES; POISED FOR MOST SUCCESSFUL YEAR TO DATE

 CHATSWORTH, Calif., Oct. 15 /PRNewswire/ -- Diodes Inc. (AMEX: DIO) today announced record earnings for its third quarter ended Sept. 30, 1993. Revenues for the quarter were $7,178,820, an increase of 53.1 percent over revenues of $4,688,307 for the same period a year ago. Net earnings for the quarter were $350,823, or 8 cents per share, compared to net earnings of $52,863, or 1 cent per share, in the third quarter last year.
 Revenues for the nine-month period ended Sept. 30, 1993, were $18,802,383, an increase of 40.7 percent over revenues of $13,358,313 for the same period a year ago. Net earnings for the same nine-month period were $627,519, or 13 cents per share, compared to net earnings of $277,158, or 6 cents per share, in the first nine months last year.
 "Our product and service advantages continue to be well received by our customers. Those advantages translated into a very strong financial performance in the third quarter," said Pedro P. Morillas, executive vice president of Diodes. "Backlog remains at peak levels, and overall demand for our entire line of discrete components is stronger than ever. We expect this positive reception in the marketplace to continue in the coming months as we continue to promote our mainstay discrete components and roll out new transistor product offerings.
 "Our new China manufacturing facility is now fully operational, giving us greater volume capacity, manufacturing flexibility, and customer service efficiency. We remain focused on servicing our customers, and we look forward to the performance level achieved in the past nine months, continuing during the rest of the year."
 Headquartered in Chatsworth, Diodes Inc. is a leading supplier of discrete semiconductor products, including standard, zener, and signal diodes, bridge rectifiers, small signal transistors, and transient voltage suppressors. Combining nearly 35 years in the design and manufacture of discrete components with the financial stability and technical expertise of its strategic business associate -- the LiteOn Group -- Diodes is a key supplier to leading manufacturers in the automotive, electronics/computing, and telecommunications industries.
 DIODES INC. AND SUBSIDIARIES
 Consolidated Condensed Statement of Income
 (Unaudited)
 Three Months Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1993 1992 1993 1992
 Net sales $7,178,820 $4,688,307 $18,802,383 $13,358,313
 Cost of goods
 sold 5,239,339 3,477,209 13,742,395 9,684,856
 Gross profit 1,939,481 1,211,098 5,059,988 3,673,457
 Selling,
 general and
 administrative
 expense 1,467,424 1,178,430 4,311,620 3,375,917
 Operating
 profit 472,057 32,668 748,368 297,540
 Other expense
 (income)
 Interest expense 35,402 30,155 89,219 81,442
 Interest income (9,659) (14,960) (32,277) (35,055)
 Other 1,333 (41,189) (71,557) (99,382)
 Total 27,076 (25,994) (14,616) (52,995)
 Earnings before
 taxes 444,981 58,662 762,984 350,535
 Provision for
 income taxes 94,158 15,402 135,465 116,921
 Net earnings
 before extra-
 ordinary credit 350,823 43,260 627,519 233,614
 Extraordinary
 credit -- tax
 benefit of net
 operating loss
 carryforward 0 9,603 0 43,544
 Net earnings
 (loss) $350,823 $52,863 $627,519 $277,158
 Earnings per share
 Earnings before
 extraordinary
 credit $0.08 $0.01 $0.13 $0.05
 Extraordinary
 credit $0.00 $0.00 0.00 0.01
 Net earnings $0.08 $0.01 $0.13 $0.06
 Number of shares
 used in
 computation 4,556,163 4,299,752 4,556,163 4,299,752
 -0- 10/15/93
 /CONTACT: Pedro Morillas, executive VP of Diodes, 818-882-4920/
 (DIO)


CO: Diodes Inc. ST: California IN: CPR SU: ERN

JL-LS -- LA007 -- 2688 10/15/93 11:12 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 15, 1993
Words:631
Previous Article:BIODYNAMICS THIRD QUARTER REVENUES UP 74 PERCENT
Next Article:BRAJDAS CORP. (SOON TO BE RICHEY ELECTRONICS) REPORTS SIGNIFICANT PROFIT IMPROVEMENTS
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters