IXYS Corporation Announces Record Revenues for the June 30, 2004 Quarter
Thursday August 5, 4:30 pm ET
SANTA CLARA, Calif.--(BUSINESS WIRE)--Aug. 5, 2004--IXYS Corporation (Nasdaq:SYXI - News) today released its financial results for its first fiscal quarter ended June 30, 2004.
For the first fiscal quarter ending June 30, 2004, IXYS reported record net revenues of $60.0 million, compared with net revenues of $40.1 million for the same period in fiscal year 2004, which represented 49.5% period-to-period revenue growth. Sequentially, revenues increased 11.7% from the $53.7 million reported for the quarter ended March 31, 2004.
Gross profit was $17.2 million, or 28.6% of net revenues, for the quarter ended June 30, 2004, as compared to gross profit of $12.3 million, or 30.8% of net revenues, for the same quarter in the prior fiscal year.
Net income for the fiscal quarter ending June 30, 2004 was $1.9 million, or $0.05 per diluted share, as compared to a net income of $443,000 or $0.01 per diluted share in the same quarter for the prior fiscal year.
First quarter results include charges for litigation related costs of about $1.5 million.
"IXYS has demonstrated ten consecutive quarters of revenue growth, with eight consecutive quarters of record revenues. We ended our June quarter with a record backlog of $81.1 million. We continue to see strength in Asia in the plasma display panel business and are now beginning to see the effects of our efforts to reduce our costs in that market. We are on target in our goal of improving profitability," commented Dr. Nathan Zommer, Chief Executive Officer.
"We have seen strong revenue growth in our June quarter; however, summer vacations could affect our September quarter revenues," said Arnold Agbayani, Chief Financial Officer. "Therefore, we expect revenues for the September quarter to be relatively flat as compared to the June quarter."
IXYS develops and markets primarily high performance power semiconductors and control ICs that are used in controlling and converting electrical power efficiently in power systems for telecommunication infrastructure, motor drives, medical systems and transportation. IXYS also serves emerging markets with digital and analog ICs that control flat panel displays, medical instruments and telecommunication products. |
