IXYS Corporation Reports Increased Profits For The September 2016 Quarter

Quarter-End Highlights:
  • Gross profit margin for the quarter ended September 30, 2016 was 32.4%, in line with gross profit margin for the September 2015 quarter. Importantly, the gross profit margin increased by 260 basis points from 29.8% gross profit margin in the June 2016 quarter. 
  • Net income of $3.9 million for the September 2016 quarter was an increase of $662,000, or 20.2%, as compared to $3.3 million of net income in the prior year comparable quarter. Sequentially, the September 2016 quarter net income increased by $916,000, or 30.3%, as compared to $3.0 million of net income in the June 2016 quarter.

LEIDEN, Netherlands and MILPITAS, Calif., Nov. 02, 2016 (GLOBE NEWSWIRE) -- IXYS Corporation (NASDAQ:IXYS), an international power semiconductor and IC company, today announced financial results for its second fiscal quarter ended September 30, 2016.  

Net revenues for the quarter were $78.6 million versus $80.3 million in net revenues for the September 2015 quarter. For the six months ended September 30, 2016, IXYS reported net revenues of $159.3 million, as compared to net revenues of $162.3 million for the same period in the prior fiscal year.

"We are pleased with the increased profitability of IXYS while investing in new products and improved manufacturing efficiencies. We continue to penetrate new applications in the transportation, medical and IoT markets," said Dr. Nathan Zommer, Founder and CEO of IXYS. "IXYS has focused on designing higher margin products, benefitting from The World of IXYS TM marketing campaign. Today, we offer the total customer solution, from microcontrollers to driver ICs to power semiconductors, which may continue to drive better gross margins going forward."

Net income for the quarter ended September 30, 2016 was $3.9 million, or $0.12 per diluted share, an increase of $662,000, or 20.2%, as compared to net income of $3.3 million, or $0.10 per diluted share, for the September 2015 quarter. Sequentially, net income in the September 2016 quarter increased by $916,000, or 30.3%, from net income of $3.0 million in the June 2016 quarter. The September 2016 quarter non-GAAP net income, which excludes the impact of charges for the amortization of acquired intangible assets and stock compensation, was $5.1 million, or $0.16 per diluted share, as compared to the non-GAAP net income of $5.2 million, or $0.16 per diluted share, for the same period in the prior fiscal year.

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