Diodes Profit Soars With Semiconductor Market

Diodes, a Chatsworth semiconductor concern, reported strong sales and improved earnings for the third quarter ended Jan. 31. The company reported a near tripling of its net income over the comparable period last year, to $80,373, or 2 cents a share, on a 20% increase in sales, to $3.5 million.

For the nine months, Diodes has shown a profit of $438,322, or 16 cents a share, contrasted with a loss of $78,038 for the same period a year earlier. Sales have increased by 33% to $11.7 million.

David Lloyd, company chairman and chief executive, attributed the improved results to the company’s expansion of its product line as well as to improved demand. Lloyd expects the company to post its highest sales ever this year. In February, the rate of orders for semiconductor firms nationwide hit a three-year high.

Diodes stock also has climbed dramatically in recent weeks and closed Monday at $4.25 per share, up from $1.88 a month ago.

In a separate matter, the company announced that Stewart Wang, its president and chief operations officer since June, has left. Lloyd will take over Wang’s responsibilities.

The company also announced that it has reached a marketing agreement with Microsemi Corp., a Santa Ana concern that owns 25% of Diodes, to market Diodes products in Europe. Diodes now makes few sales directly to Europe.