Diodes (DIOD) Tops Q4 EPS by 4c, Offers Q1 Guidance

Diodes (NASDAQ: DIOD) reported Q4 EPS of $0.74, $0.04 better than the analyst estimate of $0.70. Revenue for the quarter came in at $350.4 million versus the consensus estimate of $340.51 million.

GUIDANCE:

Diodes sees Q1 2021 revenue of $400 million, versus the consensus of $362.2 million.

• Dr. Lu concluded, “For the first quarter of 2021, we expect revenue to increase to approximately $400 million, plus or minus 3 percent, which represents a record on both an organic and consolidated basis for a combined increase of about 14 percent sequentially at the mid-point. This guidance represents organic growth significantly better than typical seasonality of sequentially down 5 percent on average in the same prior two-year periods. We expect GAAP gross margin on a consolidated basis to be 33.6 percent, plus or minus 1 percent, which includes an approximately 3 percent impact due to a full quarter of LSC. Non-GAAP operating expenses, which are GAAP operating expenses adjusted for amortization of acquisition-related intangible assets, are expected to be approximately 22.0 percent of revenue, plus or minus 1 percent. We expect net interest expense to be approximately $3.3 million. Our income tax rate is expected to be 18 percent, plus or minus 3 percent, and shares used to calculate diluted EPS for the first quarter are anticipated to be approximately 45.7 million.”
• Purchase accounting adjustments related to amortization of acquisition-related intangible assets of $3.3 million, after tax, for Pericom and previous acquisitions is not included in these non-GAAP estimates.

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

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