Diodes Incorporated Reports First Quarter 2016 Financial Results

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such statements include statements regarding our expectation that: we are working very closely with customers and the sales channel in order to maintain consistent work flow and production throughout this process; overall, I am very pleased with the progress we have made so far and expect to further capitalize on cross-selling opportunities across a broader product portfolio and expanded customer base; as we look to the second quarter, we expect to grow revenue sequentially and reduce operating expenses as a percentage of sales as we benefit from additional cost synergies and operational efficiencies; Diodes has a proven track record of integrating acquisitions and realizing the full value of the combined businesses to drive long-term profitable growth, and we have made great strides towards achieving this success with Pericom; for the second quarter of 2016, we expect to grow revenue to a range between $230 million and $240 million, or up 3.3 to 7.7 percent sequentially; we expect GAAP (and non-GAAP) gross margin to be 31.5 percent, plus or minus 2 percent; non-GAAP operating expenses are expected to be approximately 25 percent of revenue, plus or minus 1 percent; we expect interest expense to be approximately $2.5 million and our income tax rate to be 28 percent, plus or minus 3 percent; shares used to calculate diluted EPS for the second quarter are anticipated to be approximately 49.5 million. Potential risks and uncertainties include, but are not limited to, such factors as: the risk that such expectations may not be met; the risk that the expected benefits of acquisitions may not be realized; the risk that we may not be able to maintain our current growth strategy or continue to maintain our current performance, costs and loadings in our manufacturing facilities; risks of domestic and foreign operations, including excessive operation costs, labor shortages, higher tax rates and our joint venture prospects; the risk of unfavorable currency exchange rates; our future guidance may be incorrect; the global economic weakness may be more severe or last longer than we currently anticipated; breaches of our information technology systems; and other information including the “Risk Factors,” detailed from time to time in Diodes’ filings with the United States Securities and Exchange Commission.

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.



(in thousands, except per share data)

Three Months Ended
March 31,
  2016     2015  
NET SALES $ 222,738 $ 206,182
COST OF GOODS SOLD   158,518     142,269  
Gross profit 64,220 63,913
Selling, general and administrative 39,454 31,731
Research and development 18,149 13,309
Amortization of acquisition related intangible assets 5,131 1,922
Others   31     48  
Total operating expenses   62,765     47,010  
Income from operations 1,455 16,903
Interest income 456 298
Interest expense (2,512 ) (1,064 )
Gain on securities carried at fair value - 71
Other   (1,436 )   (244 )
Total other expenses (3,492 ) (939 )
(Loss) income before income taxes and noncontrolling interest (2,037 ) 15,964
INCOME TAX PROVISION   (552 )   4,187  
NET (LOSS) INCOME (1,485 ) 11,777
Less: NET INCOME attributable to noncontrolling interest   (248 )   (645 )
NET (LOSS) INCOME attributable to common stockholders $ (1,733 ) $ 11,132  
(LOSS) EARNINGS PER SHARE attributable to common stockholders
Basic $ (0.04 ) $ 0.23  
Diluted $ (0.04 ) $ 0.23  
Number of shares used in computation
Basic   48,288     47,667  
Diluted   48,288     48,978  

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

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9  Next Page »

Review Article Be the first to review this article
Synopsys: Custom Compiler

Featured Video
Peggy AycinenaWhat Would Joe Do?
by Peggy Aycinena
Diversity: Really, who cares
More Editorial  
Senior Methodology Automation Engineer for EDA Careers at San Jose, CA
Senior Front-End RTL Design AE for EDA Careers at San Jose, CA
Senior R&D Engineer...Timing Closure Specialist for EDA Careers at San Jose or Anywhere, CA
DDR 3-4-5 Developer with VIP for EDA Careers at San Jose, CA
Proposal Support Coordinator for Keystone Aerial Surveys at Philadelphia, PA
Upcoming Events
11th International Conference on Verification and Evaluation of Computer and Communication Systems at 1455 DeMaisonneuve W. EV05.139 Montreal Quebec Canada - Aug 24 - 25, 2017
The Rise of Mechatronics at Dassault Systèmes San Diego 5005 Wateridge Vista Drive San Diego CA - Sep 12, 2017
The Rise of Mechatronics at Buca di Beppo - Pasadena 80 West Green Street Pasadena CA - Sep 13, 2017
S2C: FPGA Base prototyping- Download white paper

Internet Business Systems © 2017 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy