Diodes Inc. Sets Records for Revenue, Net Income

Diodes Inc. in Westlake Village announced record revenues and net income for its fourth quarter and the 12 months that ended Dec. 31.

Revenues for the year were $65.7 million, up 17% from $56 million a year earlier. Net income increased 70%, to $5.1 million from $3 million, and diluted earnings per share were 93 cents, compared with 55 cents in 1996.

Revenues for the quarter increased 11%, to $16.7 million, up from $15 million in the same period a year earlier. Net income increased 74%, to $1.4 million from $807,000 a year ago, and diluted earnings per share were 25 cents, compared with 15 cents in the fourth quarter of 1996, an increase of 67%.

Diodes President Michael Rosenberg said the company’s business in 1997 was not materially affected by the recent widespread weakness in Asian currencies. However, given that 24% of Diodes’ revenues in 1997 were Asia-based--compared with about 14% in the previous year--it remains unclear to what extent continuing weakness in Asian currencies might affect the company’s business in 1998.

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