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ROUNDUP / BARBARA MURPHY

Diodes' Quarterly Profit Rises 40% to $1.8 Million

May 13, 1997|BARBARA MURPHY

By controlling overhead, Diodes Inc. in Westlake Village saw its first-quarter profit climb nearly 40% to $1.8 million.

The gain in profitability--a record for the company--came on increased revenues of $16.49 million, up 24.9% for the quarter ended March 31. That compares with revenue of $13.20 million for the same period last year.

Earnings per share were 22 cents compared to 16 cents in the first quarter of 1996.

David Lin, president and CEO, said this is the strongest first quarter--in terms of revenues and earnings--in the company's history.

"Quarterly revenues, in fact, have never been higher," Lin said. "And we are pleased that the improvement in net sales has been accompanied by across-the-board improvements in profitability."

Lin said the results reflected the company's improved inventory management and overhead controls.

Officials said a joint venture announced in June 1995 is now contributing to Diodes' bottom line. The Kai Hong joint venture, in which Diodes has invested nearly $3 million, operates a manufacturing facility on mainland China.

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

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