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7 years ago
UPDATE 1-IXYS swings to Q4 profit; Q1 rev view tops estimates
May 25, 2010 / 9:46 PM / 7 years ago

UPDATE 1-IXYS swings to Q4 profit; Q1 rev view tops estimates

2 Min Read

* Q4 EPS $0.13 vs est $0.08

* Q4 rev $76.6 mln vs est $67.20 mln

* Sees Q1 rev $79 mln-$81 mln vs est. $71.50 mln

* Shares up 12 pct in extended trade

May 25 (Reuters) - IXYS Corp (IXYS.O) swung to a fourth-quarter profit, beating market estimates, as bookings rose and the chipmaker forecast first-quarter revenue well above Wall Street expectations, sending its shares up 12 percent after the bell.

The company projected revenue of $79 million to $81 million for the current quarter. Analysts were looking for $71.50 million, according to Thomson Reuters I/B/E/S. [ID:nASA00EH5]

IXYS posted fourth-quarter net income of $4 million, or 13 cents a share, compared with a loss of $10.9 million, or 36 cents a share, a year ago.

Revenue rose 31 percent to $76.6 million. Bookings rose 158 percent to $98.6 million.

Analysts were looking for earnings of 8 cents a share, on revenue of $67.20 million.

Gross margins increased 7.9 percentage points sequentially, marking four consecutive quarters of margin growth, the company said.

"Gross margin strength may continue due to a better mix of high value products and our recent acquisition of microcontroller specialist, Zilog, which carries higher margins than our traditional business."

In December, IXYS had said it would buy Zilog Corp ZILG.O for about $62.4 million in cash, to broaden its product portfolio.

Shares of IXYS were trading up 12 percent at $9.45 in extended trade. They closed at $8.47 Tuesday on Nasdaq. (Reporting by Mansi Dutta in Bangalore; Editing by Maju Samuel)

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