Diodes’ Revenues, Net for Quarter Set Record

Diodes Inc. in Westlake Village announced record revenues and net income for its third quarter ended Sept. 30.

Revenues for the quarter increased 17.7% to $16.93 million, from $14.39 million for the same period last year. Net income increased 77.6% to $1.34 million from $755,000 a year ago, and earnings per share were 24 cents, compared to 14 cents in the third quarter of 1996.

Michael Rosenberg, newly appointed Diodes president, said third-quarter revenues and net income were the highest in the company’s history. He said much of the improvement can be traced to the gross profit from phase one of the Kai Hong joint venture, a Shanghai-based manufacturing facility.

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