Diodes Reports Revenue Hike, No Profit Change

Diodes Inc. in Westlake Village announced that revenues for the quarter that ended March 31 were $16.8 million compared with $16.5 million last year.

Net income at $1.2 million and earnings at 22 cents per diluted share were unchanged.

President Michael Rosenberg said revenues during the quarter were affected by lower than expected sales in Asia and flat domestic sales.

“Moreover, the contribution of Diodes’ subsidiary in Taiwan has grown to a point where in 1997 approximately 24% of the company’s sales were Asia-based, and we are thus increasingly affected by economic conditions outside North America,” Rosenberg said.

He said the company’s program to invest $14 million in its KaiHong facility is on schedule. KaiHong is a Shanghai-based joint venture for the manufacture of products in which Diodes has a 95% equity interest.

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