IXYS Corporation Announces June 2012 Quarter Results
IXYS Corporation (NASDAQ:IXYS), an international power and IC semiconductor company, today reported its results for its first fiscal quarter, which ended June 30, 2012.
Net revenues for the quarter ended June 30, 2012 were $80.9 million, a decrease of $20.9 million from net revenues of $101.8 million in the prior year’s first quarter. Sequentially, net revenues in the quarter ended June 30, 2012 decreased by $6.3 million from net revenues of $87.2 million in the March 31, 2012 quarter.
“We are pleased with the bottom line performance of our company despite the apparent slowdown in the markets we serve. Our performance even in these difficult times affirms our product strategy, as well as our ability to keep our costs under control,” commented Dr. Nathan Zommer, Chairman and CEO. “We have continued our R&D investments in power semiconductors, HVIC, MCUs and RF MMICs, thus positioning IXYS for future growth.”
Net income for the quarter ended June 30, 2012 was $6.0 million, or $0.19 per diluted share, a decrease of $4.0 million, as compared to net income of $10.0 million, or $0.30 per diluted share, in the prior year’s first quarter. Sequentially, net income in the quarter ended June 30, 2012 increased by $2.3 million over net income of $3.7 million in the March 31, 2012 quarter.
Gross profit was $27.2 million, or 33.6% of net revenues, for the quarter ended June 30, 2012, as compared to gross profit of $35.0 million, or 34.4% of net revenues, for the same quarter in the prior fiscal year. Sequentially, gross profit in the quarter ended June 30, 2012 decreased by $2.8 million from gross profit of $30.0 million, or 34.4% of net revenues, in the March 31, 2012 quarter.
The company ended June 2012 with record cash of $103.4 million, which is an increase of $4.3 million over the cash at March 31, 2012. “Our results manifest the strengths of our products and technologies and our ability to remain profitable, even during challenging times,” commented Mr. Uzi Sasson, President and CFO.
“The summer quarter traditionally has been challenging for IXYS and we expect that this summer will also be weak. Therefore, we expect revenues for the September 2012 quarter to be 8% to 12% lower than those of the June 2012 quarter,” Mr. Sasson continued.
About IXYS Corporation
Since its founding in Silicon Valley, IXYS Corporation has been developing technology-driven products to improve energy conversion efficiency, generate clean energy, improve automation, and provide advanced products for the transportation, medical and telecommunications industries. IXYS, with its subsidiaries, is a worldwide pioneer in the development of power semiconductors, solid state relays, high voltage integrated circuits (HVIC), and microcontrollers that are necessary in conserving energy and in reducing the world’s dependence on fossil fuels.
Diminishing natural resources, demand for renewable energy and environmental directives for energy efficiency represent a significant challenge. IXYS’ power semiconductors and mixed-signal integrated circuits (IC) play a vital role in reducing energy costs and consumption by optimizing the energy efficiency of everyday products. With an end customer base of over 2,500 telecommunications, transportation, industrial, medical and consumer companies, IXYS is a worldwide recognized provider of advanced semiconductors.
Additional information may be obtained by visiting IXYS’ website at http://www.ixys.com, or by contacting the company directly.
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Uzi Sasson, 408-457-9000
President & CFO
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