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Jun 30, 2020
Diodes Q2 2020 Earnings Report
Diodes' revenue increased sequentially due to market share gains across all key product groups and strong growth from Pericom products.
Key Takeaways
Diodes Incorporated reported second quarter revenue of $288.7 million, an increase of 2.8 percent compared to the first quarter of 2020. GAAP net income was $21.0 million, or $0.40 per diluted share, and non-GAAP adjusted net income was $28.6 million, or $0.54 per diluted share.
Revenue increased 2.8% sequentially to $288.7 million.
Gross profit increased 5.9% sequentially to $101.5 million.
GAAP net income was $21.0 million, or $0.40 per diluted share.
Non-GAAP adjusted net income was $28.6 million, or $0.54 per diluted share.
Forward Guidance
For the third quarter of 2020, Diodes expects revenue to increase to approximately $304 million, plus or minus 3 percent. We expect GAAP gross margin to be 35.5 percent, plus or minus 1 percent. Non-GAAP operating expenses are expected to be approximately 23.0 percent of revenue, plus or minus 1 percent. We expect non-GAAP net interest expense to be approximately $1.5 million. Our income tax rate is expected to be 18 percent, plus or minus 3 percent, and shares used to calculate diluted EPS for the third quarter are anticipated to be approximately 52.8 million.
Positive Outlook
- Expect revenue to increase to approximately $304 million, plus or minus 3 percent.
- Expect GAAP gross margin to be 35.5 percent, plus or minus 1 percent.
- Non-GAAP operating expenses are expected to be approximately 23.0 percent of revenue, plus or minus 1 percent.
- Expect non-GAAP net interest expense to be approximately $1.5 million.
- Shares used to calculate diluted EPS for the third quarter are anticipated to be approximately 52.8 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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