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IXYS Corp. (IXYS) filed Quarterly Report for the period ended 2011-12-31.
Ixys Corp. has a market cap of $374.8 million; its shares were traded at around $12.02 with a P/E ratio of 10.6 and P/S ratio of 1.
This is the annual revenues and earnings per share of IXYS over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of IXYS.
Highlight of Business Operations:
In the quarter ended December 31, 2011, our revenues decreased by approximately $19.0 million as compared to the immediately preceding quarter, largely as a result of reduced demand for our products. Power semiconductors declined by $14.6 million, integrated circuits declined by $3.3 million and systems and RF power semiconductors declined by $1.0 million. Comparing the same periods, we experienced declining revenues in all of the major geographical areas and in all of the major market segments, including the consumer, medical, telecommunication and industrial and commercial markets. Gross profit margin fell from 31.8% in the quarter ended September 30, 2011 to 28.9% in the quarter ended December 31, 2011, primarily because of unabsorbed manufacturing costs and a shift in product mix towards lower margin products. In recent periods, our selling, general and administrative expenses, or SG&A expenses, and our research, development and engineering expenses, or R&D expenses, have remained relatively flat. In future periods, both our SG&A and R&D expenses are expected to continue at about these dollar levels except for selling expense, which is expected to vary with revenues.The 12.7% decrease in net revenues in the three months ended December 31, 2011 as compared to the three months ended December 31, 2010 reflected a decrease of $3.5 million, or 5.4%, in the sale of power semiconductors, a decrease of $6.6 million, or 32.6%, in the sale of ICs and a decrease of $1.6 million, or 20.4%, in the sale of systems and RF power semiconductors. The decrease in power semiconductors included a $5.0 million decrease in the sale of MOS products, principally to the medical market and the industrial and commercial market, offset by a $1.7 million increase in the sale of bipolar products, primarily to the industrial and commercial market. The decrease in revenues from the sale of ICs was primarily caused by a $4.2 million decrease in the sale of microcontrollers and a $1.6 million decrease in the sale of display driver ICs. The revenues from the sale of systems and RF power semiconductors decreased primarily due to reduced sales of subassemblies to the industrial and commercial market.
The 5.4% increase in net revenues in the nine months ended December 31, 2011 as compared to the nine months ended December 31, 2010 reflected an increase of $29.2 million, or 16.0%, in the sale of power semiconductors, a decrease of $16.0 million, or 24.8%, in the sale of ICs and an increase of $1.1 million, or 5.7%, in the sale of systems and RF power semiconductors. The increase in power semiconductors included a $22.0 million increase in the sale of bipolar products, primarily to the industrial and commercial market, and a $5.5 million increase in the sale of MOS products, principally to the medical market and the industrial and commercial market. The decrease in revenues from the sale of ICs was primarily caused by a decrease of $7.7 million in the sale of microcontroller products and a decrease of $6.0 million in the sale of display driver ICs. The revenues from the sale of systems and RF power semiconductors increased primarily due to a $744,000 increase in the sale of subassemblies to the industrial and commercial market. Intellectual property revenues, consisting of sales, licensing fees and royalties, increased from $2.5 million in the nine months ended December 31, 2010 to $4.8 million in the nine months ended December 31, 2011. Nonrecurring intellectual property sales and licensing fees were $2.0 million in the nine months ended December 31, 2011. In the comparable period of the prior year, there were none.
For the nine months ended December 31, 2011, sales to customers in the United States represented approximately 27.4% of our net revenues and sales to international customers represented approximately 72.6% of our net revenues. Of our international sales, approximately 51.7% were derived from sales in Europe and the Middle East, approximately 42.4% were derived from sales in the Asia Pacific region and approximately 5.9% were derived from sales in the rest of the world. By comparison, for the nine months ended December 31, 2010, sales to customers in the United States represented approximately 28.1% of our net revenues and sales to international customers represented approximately 71.9% of our net revenues. Of our international sales, approximately 47.2% were derived from sales in Europe and the Middle East, approximately 47.7% were derived from sales in the Asia Pacific region and approximately 5.1% were derived from sales in the rest of the world.
For the three and nine month ended December 31, 2011, one distributor accounted for 11.3% and 12.0% of our net revenues, respectively. For the nine months ended December 31, 2011, another distributor accounted for 10.5% of our net revenues. For the three and nine months ended December 31, 2010, one distributor accounted for 12.7% and 12.3% of our net revenues, respectively, and another distributor accounted for 10.9% and 11.7% of our net revenues, respectively.
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