Exhibit 99.1
(DIODES LOGO)
Diodes Incorporated Reports Fourth Quarter and Fiscal 2009 Financial Results
Revenue Increases 50% and Gross Profit Increases 83% Over Prior Year Quarter
Dallas, Texas – February 9, 2010 –
Diodes Incorporated (Nasdaq: DIOD), a leading global manufacturer and supplier of high-quality application specific standard products within the broad discrete and analog semiconductor markets, today reported financial results for the fourth quarter and fiscal year ended December 31, 2009.
Year 2009 Highlights:
 
Revenue increased to a record $434.4 million from $432.8 million in 2008, which included 7 months of the Zetex acquisition;
 
 
Revenue for the second half of 2009 of $252.4 million was 14 percent higher compared to $221.2 million in the second half of 2008, both of which include Zetex;
 
 
Gross profit was $121.2 million, or 27.9 percent of revenue;
 
 
GAAP net income was $7.5 million, or $0.17 per diluted share;
 
 
Non-GAAP adjusted net income was $24.1 million, or $0.55 per diluted share;
 
 
Excluding $7.0 million of share-based compensation expense, both GAAP and non-GAAP adjusted net income would have increased by $0.16 per diluted share;
 
 
Achieved $65.5 million cash flow from operations, $138.5 million net cash flow and $43.1 million free cash flow;
 
 
Generated $66.9 million of EBITDA; and
 
 
Repurchased approximately $48 million principal amount of Convertible Senior Notes, reducing outstanding balance to approximately $135 million par value.
Fourth Quarter Highlights:
 
Revenue was $130.3 million, an increase of 50 percent over the $87.1 million in the fourth quarter of 2008 and an increase of 7 percent over the $122.1 million in the third quarter of 2009;
 
 
Gross profit was $41.8 million, an increase of 83 percent over the $22.9 million in the fourth quarter of 2008 and an increase of 11 percent over the $37.6 million in the third quarter of 2009;
 
 
Gross margin was 32.1 percent, a 580 basis point increase over the 26.3 percent in the fourth quarter of 2008 and a 130 basis point increase over the 30.8 percent reported in the third quarter of 2009;
 
 
GAAP net income was $14.2 million, or $0.32 per diluted share, compared to fourth quarter of 2008 net income of $8.7 million, or $0.21 per diluted share, and third quarter of 2009 net income of $7.0 million, or $0.16 per diluted share;
 
 
Non-GAAP adjusted net income was $16.3 million, or $0.36 per diluted share, compared to adjusted net income of $4.7 million, or $0.11 per diluted share, in the fourth quarter of 2008 and adjusted net income of $9.0 million, or $0.21 per diluted share in the third quarter of 2009;
 
 
Excluding $2.2 million of share-based compensation expense, both GAAP and non-GAAP adjusted net income would have increased by $0.05 per diluted share;
 
 
Achieved $21.5 million cash flow from operations, $115.9 million net cash flow and $12.0 million free cash flow; and
 
 
EBITDA was $25.3 million, a 35 percent improvement over the $18.7 million in the fourth quarter of 2008 and 18 percent over the $21.4 million for the third quarter of 2009.
Commenting on the results, Dr. Keh-Shew Lu, President and Chief Executive Officer of Diodes Incorporated,

 


The following information was filed by Diodes Inc (DIOD) on Friday, February 12, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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