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ROUNDUP / BARBARA MURPHY

Diodes Inc. Shows Drop in Revenues for 12 Months

March 11, 1997|BARBARA MURPHY

Diodes Inc. in Westlake Village announced a drop in revenues and earnings for the 12 months ended Dec. 31, although fourth-quarter figures showed some improvement.

Revenues for the quarter were $14.96 million versus $14.05 million in the same period in 1995, an increase of 6.5%. This marked the first time in 1996 that quarterly revenues exceeded those in 1995.

Net income of $808,000 was a 39.6% decrease from the previous year, and earnings per share were 15 cents compared to 25 cents in the year-ago quarter.

The quarter results include a one-time charge of $660,000 for pre-operating costs associated with the Kai Hong joint venture for a manufacturing facility in China.

Revenues for the year were $56.01 million, a 3.7% drop from the 1995 figure of $58.19 million. Net income for the 12 months decreased 36.9% to $3 million, and earnings per share were 55 cents compared to 90 cents in 1995.

"Without question, 1996 was a challenging year, especially in comparison to Diodes' record performance in 1995," said David Lin, president and chief executive.

"However, starting in the third quarter and increasingly throughout the fourth quarter, we have seen signs that demand for our products is improving."

Diodes provides semiconductor devices to manufacturers in the automotive, electronics, computing and telecommunications industries.

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