Diodes’ Net Sales Up 71%, Highest in Firm’s History

Diodes Inc. in Westlake Village, a semiconductor manufacturer for the automotive, electronics, computing and telecommunications industries, reported record revenue and net income for its first quarter ended March 31.

Net sales for the quarter increased 71% to $27.3 million, the highest quarterly sales in the company’s history, compared with $16 million in the same period last year. Net income jumped to a record $3.1 million, or 51 cents per diluted share, compared with $690,000, or 13 cents per diluted share, in the first quarter of 1999.

President and Chief Executive C.H. Chen credited the record sales to a combination of stronger unit demand and more stable sales prices. Chen said a $4.5-million expansion at the company’s manufacturing facility in Shanghai, China, also contributed to the growth.

“In light of the continued strong demand for [our] products and the increased output of the expansion, the growth outlook for year 2000 remains favorable,” Chen said.