Diodes Inc. Earnings Dip 83% in 1st Quarter

Diodes Inc., a Chatsworth-based electronic components company, said its fiscal first-quarter profit tumbled 83% from a year earlier on a 14% decline in sales.

In the quarter that ended July 31, Diodes’ net income fell to $17,990 from $106,481 a year earlier. Its sales dropped to $3.20 million from $3.70 million.

Diodes attributed the lower results to strong competition, a “marked decline” in demand for rectifiers and other electronic components, and the recent weakness in the U.S. dollar against Asian currencies, which has increased the cost of making Diodes’ products overseas.