Diodes Q4 Profit Up

(RTTNews) - Diodes Inc. (DIOD) Tuesday reported fourth-quarter profit of $47.2 million or $0.90 per share, up from $29.5 million or $0.58 per share last year.

Adjusted net income was $33.8 million or $0.65 per share, compared to $33.2 million or $0.65 per share last year. On average, 5 analysts polled by Thomson Reuters estimated earnings of $0.63 per share last year. Analysts' estimates typically exclude one-time items.

Revenue for fourth quarter was $301.2 million, compared to $314.4 million last year. Analysts had a consensus revenue estimate of $300.00 million for the quarter.

Looking forward to the first quarter, Diodes expect revenues to be about $290 million, plus or minus 3 percent. Analysts currently expect revenues of $291.97 million.

CEO Dr. Keh-Shew Lu said, "These guidance ranges reflect the delayed start to manufacturing production following the extended Chinese New Year holiday due to the coronavirus outbreak in China. All production, including wafer fabs and assembly test facilities in China, resumed on February 10th, but we anticipate it will take longer to return to full production."