Diodes Reports Record Sales During the Third Quarter
Posted on: Friday, 28 October 2005, 21:00 CDT
By Allison Bruce, Ventura County Star, Calif.
Oct. 26--Diodes Inc., a Westlake Village-based semiconductor company, reported record sales in its third quarter with $54.2 million in revenue, up 9.8 percent from a year ago.
The company attributes its strong quarter to demand in Asia and for its devices used in notebook computers and MP3 players. The increase stems from new products and more demand for existing products.
Diodes creates discrete semiconductors used in communications, computing, industrial, consumer electronics and automotive markets. Discrete semiconductors include diodes, which allow electrical current to flow in only one direction.
Company plans include a focus on higher-margin products and expanding into adjacent markets such as analog and mixed-signal products. Mixed-signal products help digital and analog signals communicate.
The company's operating income was $10.4 million for the quarter, up 7.5 percent. Net income was 51 cents per share.
Computer and consumer electronics made up 36 percent and 34 percent of total sales, said Mark King, senior vice president of sales and marketing.
When broken down geographically, 67 percent of revenue came from Asia, 30 percent from North America and about 2.7 percent in Europe.
Asia is a growing area of demand for Diodes. The region made up about 58 percent of revenue for the company a year ago.
King said he expected the trend to continue. A lot of business out of Asia comes from design work for North American companies, he said. The outsourcing of high-volume work to Asia is also catching on in Europe, he said.
Aside from the company's headquarters in Westlake Village, it has a facility in Missouri and four Far East subsidiaries: Diodes-Taiwan, Diodes-Hong Kong, Diodes-Shanghai and Diodes-China.
The two subsidiaries in China are under the same management.
Company President and CEO Keh-Shew Lu said Diodes made a number of new hires and started preparing its Shanghai manufacturing facility to start producing analog circuits during the third quarter. The facility should start producing analog devices in the first half of 2006 and could start to see significant revenue by the second half, Lu said.
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DIOD,
Source: Ventura County Star
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