International Rectifier Turns To Profit In Q4 - Quick Facts

(RTTNews) - International Rectifier Corp. (IRF) said its fourth-quarter net income was $12.9 million, or $0.18 per share, compared to a net loss of $6.1 million or $0.09 per share in the prior-year quarter.

Excluding items, adjusted income for the quarter was $21.9 million or $0.30 per share, compared to loss of $1.2 million or $0.02 per share in the year-ago quarter. On average, six analysts polled by Thomson Reuters expected the company to earn $0.29 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter rose 7.6 percent to $297.59 million from $276.45 million in the comparable quarter last year, while seven analysts expected revenues of $288.69 million.

International Rectifier Corporation entered into a definitive agreement with Infineon Technologies AG under which Infineon has agreed to acquire International Rectifier for $40 per share in an all-cash transaction valued at approximately $3.0 billion.