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Technology Stocks : SILI - Siliconix -- Ignore unavailable to you. Want to Upgrade?

To: WTMHouston who wrote (120)	7/27/2000 8:31:50 AM
From: alruss	Read Replies (1) \| Respond to of 152

Siliconix Reports Sixth Consecutive Record Quarterly Earnings -- $0.93 Per Share, a 110% Increase SANTA CLARA, Calif.--(BUSINESS WIRE)--July 27, 2000--Siliconix incorporated (Nasdaq:SILI - news), a subsidiary of Vishay Intertechnology, Inc. (NYSE:VSH - news), announced record quarterly net income of $27.8 million, or $0.93 per share, for the quarter ended July 2, 2000. This is an increase of 110% over the net income of $13.2 million, or $0.44 per share, in the second quarter of 1999. (All per share data have been adjusted to reflect the three-for-one stock split effective in February 2000.) Sales for the second quarter of 2000 were a record $120.3 million, 33% greater than the sales of $90.8 million for the second quarter of 2000. Net income for the first half of 2000 was $54.5 million, or $1.83 per share, 138% greater than the net income of $22.9 million, or $0.77 per share, for the first half of 1999. Sales for the first half of 2000 were $234.8 million, 37% greater than the sales of $171.8 million for the first half of 1999. The gross margin for the second quarter of 2000 was 46%, compared to 40% for the second quarter of 1999. The year-over-year improvement resulted from increased manufacturing efficiencies, an improved product mix, and cost reductions like the ongoing conversion of the TrenchFET® product line to the Company's latest proprietary processes, thus generating more die, and greater revenue, per wafer. Research and development expenses increased by $1.5 million for the quarter, in line with the Company's aggressive plan of new product introductions. Selling, marketing and administration expenses increased by $2.3 million over the second quarter of last year, primarily due to increased sales and marketing spending, consistent with higher revenues and increased new product introductions. SM&A spending improved as a percentage of sales -- 12.0% in the second quarter of 2000, compared to 13.3% in the second quarter of 1999.