Diodes Inc. Q2 Profit Decreases, But Beats Estimates

(RTTNews) - Diodes Inc. (DIOD) announced earnings for second quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $8 million, or $0.17 per share. This compares with $82 million, or $1.77 per share, in last year's second quarter.

Excluding items, Diodes Inc. reported adjusted earnings of $15.4 million or $0.33 per share for the period.

Analysts on average had expected the company to earn $0.3 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 31.5% to $319.771 million from $467.152 million last year.

Diodes Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $8 Mln. vs. $82 Mln. last year. -EPS (Q2): $0.17 vs. $1.77 last year. -Revenue (Q2): $319.771 Mln vs. $467.152 Mln last year.

-Guidance: Next quarter revenue guidance: Approx. $346 Mln