This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

IXYS Announces Results For The Third Fiscal Quarter Ended December 31, 2012

IXYS Corporation (NASDAQ:IXYS), an international power semiconductor and IC company, today announced results for its third fiscal quarter ended December 31, 2012.

Net revenues in the quarter ended December 31, 2012 were $63.8 million, a decrease of $16.2 million, or 20.3%, as compared to net revenues of $80.0 million for the same period in the prior fiscal year.

For the nine months ended December 31, 2012, IXYS reported net revenues of $213.1 million, a decrease of $67.7 million, or 24.1%, as compared with net revenues of $280.8 million for the same period in the prior fiscal year.

“We are proud to belong to the class of semiconductor companies that proved profitable even in challenging macroeconomic conditions. We identified the market slowdown in a timely manner, and acted accordingly in streamlining our business for improved efficiency and manufacturing productivity,” commented Dr. Nathan Zommer, Chairman and CEO of IXYS. “Notwithstanding these volatile markets, we continued our focused R&D and technology innovation, which resulted in sustained product introductions, new patents and new customers. We continue to win designs in applications where our comprehensive product portfolio differentiates us from competitors.”

Cash and cash equivalents totaled $107.0 million at December 31, 2012, an increase of $7.8 million as compared to March 2012. The company continued to be profitable, with another quarter ending in record cash. During the quarter ended December 31, 2012, the company purchased about 486,000 shares of its common stock for about $4.4 million. IXYS can still purchase approximately 660,000 shares under its current buyback programs.

“We increased our operating efficiency and reduced expenses to remain profitable despite short-term reduced revenues. Such efforts allowed us to increase cash, marking the seventh consecutive quarter of record high cash. A strong balance sheet, sustained gross margins, a reduction in net inventories and healthy cash flows position us for the expected market recovery,” stated Uzi Sasson, President and CFO of IXYS.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs