Diodes (DIOD) Misses Q1 EPS by 2c, Offers Q2 Guidance

Diodes (NASDAQ: DIOD) reported Q1 EPS of $0.46, $0.02 worse than the analyst estimate of $0.48. Revenue for the quarter came in at $280.7 million versus the consensus estimate of $284.77 million.

GUIDANCE:

Diodes sees Q2 2020 revenue of $283 million, versus the consensus of $298 million.

• Dr. Lu concluded, “For the second quarter of 2020, we expect revenue to be approximately $283 million, plus or minus 3 percent. We expect GAAP gross margin to be 35.0 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 23.0 percent of revenue, plus or minus 1 percent. We expect net interest expense to be approximately $1.5 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 second quarter are anticipated to be approximately 52.8 million.”
• Purchase accounting adjustments related to amortization of acquisition-related intangible assets of $3.2 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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