Diodes Revenue Down 8% in the 2nd Quarter

Diodes Inc. in Westlake Village announced that for the second quarter ended June 30, revenues were $14.3 million, down 8% from $15.5 million in the same period last year.

Net income was $521,000, a significant drop from $1.3 million in the second quarter of 1997, and diluted earnings per share were 10 cents compared with 23 cents in the same period last year.

Since the beginning of the year, company officials said, operations have been adversely affected by a slowdown throughout the electronics industry that has included the semiconductor segment.

“In this environment, we anticipate that Diodes’ results will continue to be affected by a combination of gross margin pressures and industrywide weaker demand,” said Diodes President Michael Rosenberg. “However, we expect to benefit from the fact that the company is making progress in lowering its product costs, and we are pleased to see that average selling prices appear to have begun to stabilize.”

Rosenberg said that despite the disappointing results, Diodes still was able to report its 33rd consecutive profitable quarter.

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