Diodes Q2 Profit Tops Estimate

(RTTNews) - Diodes Inc. (DIOD) reported net income for the second quarter of $15.1 million or $0.31 per share, compared to $17.4 million or $0.36 per share for the year-ago quarter.

Excluding items, adjusted net income for the second quarter was $16.6 million or $0.34 per share, compared to $18.2 million or $0.38 per share in the prior year quarter.

Revenue for the second quarter fell 1.7% to $219.5 million from the $223.2 million in the second quarter of last year.

Analysts polled by Thomson Reuters expected the company to earn $0.33 per share on revenue of $220.43 million for the second quarter. Analysts' estimates typically exclude special items.

Looking forward, the company forecasts third quarter revenue to be $209 million to $225 million. Analysts currently expect the company to post revenue of $236.26 million for the third quarter.