Diodes Incorporated Reports First Quarter 2015 Financial Results

Recent news releases, annual reports and SEC filings are available at the Company's website: http://www.diodes.com. Written requests may be sent directly to the Company, or they may be e-mailed to: diodes-fin@diodes.com.

     

DIODES INCORPORATED AND SUBSIDIARIES

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS

(unaudited)

(in thousands, except per share data)

 
Three Months Ended
March 31,
2015     2014
NET SALES $ 206,182 $ 209,986
 
COST OF GOODS SOLD   142,269     148,405  
 
Gross profit 63,913 61,581
 
OPERATING EXPENSES
Selling, general and administrative 31,731 32,330
Research and development 13,309 12,920
Amortization of acquisition related intangible assets 1,922 1,981
Loss (gain) on fixed assets   48     7  
Total operating expenses   47,010     47,238  
 
Income from operations 16,903 14,343
 
OTHER INCOME (EXPENSES)
Interest income 298 397
Interest expense (1,064 ) (1,260 )
Gain (loss) on securities carried at fair value 71 (256 )
Other   (244 )   (231 )
Total other expenses (939 ) (1,350 )
 
Income before income taxes and noncontrolling interest 15,964 12,993
 
INCOME TAX PROVISION   4,187     2,547  
 
NET INCOME 11,777 10,446
 
Less: NET INCOME attributable to noncontrolling interest   (645 )   (244 )
 
NET INCOME attributable to common stockholders $ 11,132   $ 10,202  
 
EARNINGS PER SHARE attributable to common stockholders
Basic $ 0.23   $ 0.22  
Diluted $ 0.23   $ 0.21  
 
Number of shares used in computation
Basic   47,667     46,699  
Diluted   48,978     47,996  
 

Note: Throughout this release, we refer to “net income attributable to common stockholders” as “net income.”

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