Diodes (DIOD) Tops Q1 EPS by 1c

Diodes (NASDAQ: DIOD) reported Q1 EPS of $0.26, $0.01 better than the analyst estimate of $0.25. Revenue for the quarter came in at $206.2 million versus the consensus estimate of $213.4 million.

Diodes sees Q2 2015 revenue of $212-228 million, versus the consensus of $229.98 million.

Commenting on the results, Dr. Keh-Shew Lu, President and Chief Executive Officer, stated, “Revenue in the quarter declined sequentially due to greater than expected softness in the computing market in Asia as well as the currency impact from a stronger U.S. dollar versus the Euro. In spite of the lower revenue base, we further enhanced product mix to enable gross profit improvement year-over-year and to sustain gross margin at 31 percent in the quarter. Additionally, our ongoing cost reduction efforts helped to support profit margins and achieve non-GAAP earnings of $0.26 per share.

“Notable in the quarter, revenue in Europe grew almost 14 percent sequentially, despite the headwinds from the weaker Euro as we continued to gain traction on products sold in the region, specifically in the industrial and automotive markets. The North America market also performed well in the quarter.

“Overall, the first quarter demonstrates the leverage and flexibility of our business model by maintaining strong earnings and cash flow, and we expect a return to growth in the second quarter.”

For earnings history and earnings-related data on Diodes (DIOD) click here.

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