Diodes Incorporated reported record third-quarter financial results, with revenue reaching a record $521.3 million, a 10.6% increase year-over-year. The company also achieved record GAAP gross profit, GAAP net income, and non-GAAP adjusted net income.
Revenue was a record $521.3 million, up 10.6% year-over-year.
GAAP gross profit was a record $217.8 million, a 20.2% increase year-over-year.
GAAP net income was a record $86.4 million, compared to $68.4 million in the third quarter 2021.
Non-GAAP EPS was a record $2.00 per diluted share, a 36.1% improvement year-over-year.
For the fourth quarter of 2022, Diodes expects revenue to be approximately $494 million, plus or minus 3 percent. GAAP gross margin is expected to be 41.0 percent, plus or minus 1 percent. Non-GAAP operating expenses are expected to be approximately 21.0 percent of revenue, plus or minus 1 percent.
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