Diodes Inc. Cites Price-Cutting, Slump in 86% Drop in Income

Chatsworth-based Diodes Inc., blaming the continued slump in the semiconductor components business and price-cutting by semiconductor suppliers, said its net income fell 86% in the first quarter ended July 31. to $47,753, or two cents a share.

Diodes, which makes power-supply regulators, called rectifiers, used by the semiconductor industry, earned $350,346, or 17 cents a share, in the same quarter last year.

The company said its sales in the quarter dropped 23%, to $2.89 million, from $3.76 million in the same period a year earlier.