Diodes (DIOD) Tops Q1 EPS by 9c, Offers Q2 Guidance

Diodes (NASDAQ: DIOD) reported Q1 EPS of $0.69, $0.09 better than the analyst estimate of $0.60. Revenue for the quarter came in at $302.3 million versus the consensus estimate of $301.6 million.

GUIDANCE:

Diodes sees Q2 2019 revenue of $322 million, versus the consensus of $316.2 million.

Dr. Lu concluded, “We expect revenue in second quarter of 2019 to increase to approximately $322 million, plus or minus 2.0 percent. At the mid-point, this represents growth of 6.5 percent sequentially and up 5.9 percent over the prior year period, and reflects continued growth from Diodes organic business as well as revenue contribution from GFAB. We expect GAAP gross margin to be 38.0 percent, plus or minus 1 percent. Non-GAAP operating expenses, which are GAAP operating expenses adjusted for amortization of acquisition-related intangible assets, are expected to be approximately 21 percent of revenue, plus or minus 1 percent. We expect net interest expense to be approximately $2.0 million. Our income tax rate is expected to be 24.5 percent, plus or minus 3 percent, and shares used to calculate diluted EPS for the second quarter are anticipated to be approximately 52 million.”

Purchase accounting adjustments related to amortization of acquisition-related intangible assets of $3.7 million, after tax, for Pericom and previous acquisitions are not included in these non-GAAP estimates.

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

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