Diodes Incorporated reported record fourth-quarter revenue of $350.4 million, including $16.9 million from the acquisition of Lite-On Semiconductor (LSC). GAAP net income was $29.7 million, or $0.59 per diluted share, while non-GAAP adjusted net income was $37.3 million, or $0.74 per diluted share. The LSC business contributed $0.02 per share on a non-GAAP basis.
Achieved the highest quarterly revenue in the Company’s history, even when excluding the revenue contribution from the acquisition of Lite-On Semiconductor.
Total organic revenue grew 7.8% sequentially and 10.7% year-over-year.
Revenue from Pericom products and the automotive market reached record levels.
The LSC business was immediately accretive, adding $0.02 per share on a non-GAAP basis.
For the first quarter of 2021, the company expects revenue to increase to approximately $400 million, plus or minus 3 percent. GAAP gross margin on a consolidated basis is expected to be 33.6 percent, plus or minus 1 percent. Non-GAAP operating expenses are expected to be approximately 22.0 percent of revenue, plus or minus 1 percent. Net interest expense is expected to be approximately $3.3 million. The income tax rate is expected to be 18 percent, plus or minus 3 percent, and shares used to calculate diluted EPS are anticipated to be approximately 45.7 million.
Analyze how earnings announcements historically affect stock price performance