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IXYS Corporation Announces Strong Results For The September 2013 Quarter

Stocks in this article: IXYS

IXYS Corporation (NASDAQ:IXYS), an international power semiconductor and IC company, today reported results for its second quarter of fiscal 2014, which ended September 30, 2013.

Net revenues for the quarter ended September 30, 2013 were $85.9 million, up $17.4 million, or 25.5%, from $68.5 million in net revenues for the September 2012 quarter. Sequentially, net revenues were up $14.7 million or 20.7%, from June 2013 net revenues of $71.2 million, marking the third consecutive quarter of revenue growth.

For the six months ended September 30, 2013, IXYS reported net revenues of $157.1 million, an increase of $7.8 million, or 5.2%, as compared with net revenues of $149.3 million for the same period in the prior fiscal year.

“During the recession, IXYS proved to be a lean operating company capable of weathering difficult macroeconomic conditions. We focused on executing our growth strategy, both for organic growth and through complementary M&A. We are pleased to see signs of a recovery in market demand globally and an acceptance of our new products across the board. We are transforming IXYS into a multi-technology semiconductor company, with power semiconductors, integrated circuits and RF-capable products, a strategy that we believe will bring sustainable growth in profit margins,” commented Dr. Nathan Zommer, Chairman, CEO and Founder of IXYS.

Net income for the quarter ended September 30, 2013 was $3.5 million, or $0.11 per diluted share, an increase of $1.1 million over the September 2012 quarter, which reported $2.4 million, or $0.07 per diluted share. Net income increased $1.5 million dollars compared to $2.0 million of net income in June 2013.

Net income for the six months ended September 30, 2013 was $5.5 million, or $0.17 per diluted share, as compared to net income of $8.4 million, or $0.26 per diluted share, for the same period in the prior fiscal year.

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