IXYS Corporation (NASDAQ:IXYS), an international power semiconductor company, today reported net revenues of $64.0 million for the third fiscal quarter ended December 31, 2009, as compared with net revenues of $58.3 million for the same period in the prior fiscal year. IXYS’ revenues in the December 2009 quarter increased by about 19.1% as compared to $53.7 million of the September 2009 quarter.
For the nine months ended December 31, 2009, IXYS reported net revenues of $166.7 million, as compared with net revenues of $215.3 million for the same period in the prior fiscal year.
“Revenue increases are attributed to broad demand across markets for our diversified products, as we saw consistency in industrial sales and an increase in consumer-related applications. Our IC products have gained market penetration with the expansion of our display driver ICs,” commented Dr. Nathan Zommer, CEO of IXYS Corporation. “With the recent launch of six new products, we enhanced IXYS’ wide ranging power product portfolio, and we will continue our focus on new products in the high performance power, RF and IC semiconductor space.”
Gross profit was $15.7 million, or 24.5% of net revenues, for the quarter ended December 31, 2009, as compared to gross profit of $12.7 million, or 21.7% of net revenues, for the same quarter in the prior fiscal year.
Gross profit for the nine months ended December 31, 2009 was $38.7 million, or 23.2% of net revenues, as compared to a gross profit of $61.2 million, or 28.4% of net revenues, for the same period in the prior fiscal year.
Net income for the quarter ended December 31, 2009 was $399,000 or $0.01 per diluted share, as compared to a net loss of $4.0 million, or $0.13 loss per share, for the same quarter in the prior fiscal year. Net loss for the nine months ended December 31, 2009 was $4.7 million, or $0.15 loss per share, as compared to net income of $7.6 million, or $0.23 per diluted share, for the same period in the prior fiscal year.
“We remain steadfast in our goals of delivering quality products, being fast to the market, nimble and maintaining low overhead. Excluding the effect of the $15 million bank borrowing, through our cash conservation efforts, our cash increased $4 million from September 30, 2009 to December 31, 2009,” stated Uzi Sasson, President & CFO of IXYS. “Our bookings improved by about $22 million from the September 2009 quarter to the December 2009 quarter, indicating better market conditions ahead of us. While pleased with these latest developments, we remain concerned about the macroeconomic conditions affecting the industry and, therefore, will not provide any guidance.”
About IXYS Corporation
Since its founding in Silicon Valley, IXYS Corporation has been developing technology-driven products to improve power conversion efficiency, generate clean energy, improve automation, and provide advanced products for the transportation, medical and telecommunication industries. IXYS is a worldwide pioneer in the development of power semiconductors and high voltage integrated circuits (HVIC) that are necessary in reducing the world’s dependence on fossil fuels.
Diminishing natural resources, demand for cheap 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 2,000 telecommunications, transportation, industrial, medical and consumer companies, IXYS is a worldwide provider of semiconductors.