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Friday, Mar 29, 2024

Diodes First Quarter Earnings Increase

Semiconductor manufacturer Diodes, Inc. announced Thursday the company posted an increase in income for the first quarter of the year ending March 31. The Westlake Village-based Diodes reported income of $9.3 million or $0.34 per share on revenues of $73.6 million. That is in an increase of 29 percent over the income reported for the first quarter of 2005. The revenue amount was a 51 percent increase from the $48.6 million reported for the same period in 2005. The first quarter was highlighted by Diodes’ acquisition of analog chip maker Anachip. The acquisition spurred increased sales in Asia, which had 66 percent of the company’s sales for the quarter. “There was a robust demand for applications in LCD monitors, TVs, Wireless LANs, and battery chargers more than compensating for some seasonal weakness in motherboard and digital audio players,” said Mark King, senior vice president of sales and marketing. “As a result of the Anachip acquisition, we have significantly increased our sales and applications team in China, realized synergies with our Taiwan sales team, and gained a new Korean sales office that strengthens our footprint in this key market.” Diodes had sales of 31 percent in North America and 3 percent in Europe.

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