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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: The Ox who wrote (3474)	6/10/2002 6:02:49 PM
From: The Ox	Read Replies (2) \| Respond to of 95640

Diodes Incorporated Raises Guidance for Q2 2002 Revenue, Gross Profit, Bottom-Line Increased WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--June 10, 2002--Diodes Incorporated (Nasdaq:DIOD - News), a leading manufacturer and supplier of high quality discrete semiconductors, primarily to the communications, computing, industrial, consumer electronics and automotive markets, today announced updated guidance for the second quarter of 2002 at its annual meeting of shareholders. The Company now expects to report double-digit sequential revenue growth for the second quarter, up from the previous guidance of approximately 4%. The growth is primarily due to strength in the North American market. Gross profit margin is expected to be above 20%, which is up from the previous guidance of 17%-18% and primarily attributable to increased capacity utilization at the Company's Mainland China facility, Diodes-China, and at its wafer facility, Diodes-FabTech. The combination of revenue growth and operating efficiencies is expected to result in an over six-fold sequential increase in operating income for the second quarter. C.H. Chen, Diodes' President and CEO, said, "After months of speculation among analysts, we are finally seeing evidence that semiconductor industry fundamentals are improving. Diodes is benefiting from renewed ordering by distributors, particularly in the North American market. In addition, we continue to improve the efficiency of our operations and bring down unit costs by increasing capacity utilization. We expect our average capacity utilization to be well over 70% for the second quarter compared to 60% for the previous quarter." The Company's discussion of second quarter financial and operating performance is based on preliminary information and is subject to change based on actual financial and operating results for the period.