Diodes Incorporated reported its Q4 2022 financial results, with revenue increasing 3.3% year-over-year to $496.2 million. GAAP net income was $92.1 million, or $2.00 per diluted share, while non-GAAP adjusted net income was $79.6 million, or $1.73 per diluted share.
Revenue for Q4 2022 was $496.2 million, a 3.3% increase from Q4 2021.
GAAP gross profit for Q4 2022 was $206.2 million, or 41.6% of revenue.
Q4 2022 GAAP net income was $92.1 million, or $2.00 per diluted share.
Q4 2022 non-GAAP adjusted net income was $79.6 million, or $1.73 per diluted share.
For the first quarter of 2023, Diodes expects revenue to be approximately $467 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 22.2 percent of revenue, plus or minus 1 percent. The company expects net interest expense to be approximately $2.5 million. The income tax rate is expected to be 19.0 percent, plus or minus 3 percent, and shares used to calculate diluted EPS for the first quarter are anticipated to be approximately 46.5 million.
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