-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Na6pVQ1Vh3y0V03MiBRDL2Ztt4zajGvKs6X/9uyKkUbEunHUAxrtoVLOxp8avf3X QmVnqIByZfeAgX202mukog== 0000891618-02-002522.txt : 20020520 0000891618-02-002522.hdr.sgml : 20020520 20020520161828 ACCESSION NUMBER: 0000891618-02-002522 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020520 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020520 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IXYS CORP /DE/ CENTRAL INDEX KEY: 0000945699 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 770140882 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-26124 FILM NUMBER: 02657788 BUSINESS ADDRESS: STREET 1: 3540 BASSETT ST CITY: SANTA CLARA STATE: CA ZIP: 95054 BUSINESS PHONE: 4089540500 MAIL ADDRESS: STREET 1: 3540 BASSETT STREET CITY: SANTA CLARA STATE: CA ZIP: 95054 FORMER COMPANY: FORMER CONFORMED NAME: PARADIGM TECHNOLOGY INC /DE/ DATE OF NAME CHANGE: 19951031 8-K 1 f81891e8-k.htm FORM 8-K IXYS Corporation Form 8-K (05/20/02)
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SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report: May 20, 2002
(Date of earliest event reported)

IXYS CORPORATION
(Exact name of registrant as specified in its charter)

         
Delaware   000-26124   77-0140882
(State or other jurisdiction of
incorporation)		   (Commission File No.)   (IRS Employer
Identification No.)

3540 Bassett Street
Santa Clara, CA 95054
(Address of principal executive offices and zip code)

Registrant’s telephone number, including area code: (408) 982-0700

NOT APPLICABLE
(Former name or former address, if changed since last report.)
 

 

Item 5. Other Events
Item 7. Financial Statements and Exhibits
SIGNATURES
Exhibit Index
Exhibit 99.1

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Item 5. Other Events

         This Current Report on Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results and developments may differ materially from those described or incorporated by reference in this Report. For more information about IXYS Corporation and risks arising when investing in IXYS, investors are directed to IXYS’ most recent Annual Report on Form 10-K, as filed with the Securities and Exchange Commission.

         On May 20, 2002, IXYS released revised unaudited financial results for the fourth quarter of its fiscal year ended March 31, 2002 as well as for the fiscal year ended March 31, 2002. The revision to the unaudited financial results for these periods was due to an adjustment to IXYS’ accounting for its January 2002 acquisition of Westcode Semiconductors Limited as a result of the Company’s annual audit.

         A copy of the press release of IXYS is included herein as Exhibit 99.1. Such press release is incorporated by reference into this Item 5.

Item 7. Financial Statements and Exhibits

(c)   Exhibits

             
    Exhibit    
    Number   Description
   
 
      99.1     Press Release, dated May 20, 2002.

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

         
         
        IXYS CORPORATION
        By: /s/ Arnold P. Agbayani
       
        Arnold P. Agbayani, Senior Vice President, Finance and Chief Financial Officer (Principal Financial Officer)
Date: May 20, 2002        

 

Table of Contents

Exhibit Index

             
    Exhibit    
    Number   Description
   
 
      99.1     Press Release, dated May 20, 2002.

  EX-99.1 3 f81891ex99-1.txt EXHIBIT 99.1 Exhibit 99.1 IXYS CORPORATION PRESS RELEASE Contact: Arnold Agbayani Vice President, Finance & CFO IXYS Corporation 3540 Bassett Street Santa Clara, California 95054 (408) 982-0700 IXYS CORPORATION ANNOUNCES REVISION TO UNAUDITED FOURTH QUARTER AND YEAR-END FINANCIAL RESULTS PREVIOUSLY REPORTED FOR FISCAL YEAR 2002. SANTA CLARA, CALIF. May 20, 2002 -- IXYS Corporation (NASDAQ:SYXI) today reported that it was revising its unaudited financial results for the fourth quarter of its fiscal year ended March 31, 2002 as well as for the fiscal year ended March 31, 2002 due to an adjustment to the Company's accounting for its January 2002 acquisition of Westcode Semiconductors Limited as a result of the Company's annual audit. This revision has resulted in an increase of $210,000 in the net loss reported for the fourth fiscal quarter for the year ended March 31, 2002, from a previously reported net loss of $374,000, or ($0.01) per basic share and ($0.01) per diluted share, to $584,000, or ($0.02) per basic share and ($0.02) per diluted share. Net income for the fiscal year ended March 31, 2002 was $1.9 million, or $0.07 per basic share and $0.07 per diluted share, as compared to previously announced net income of $2.1 million, or $0.08 per basic share and $0.07 per diluted share. Arnold Agbayani, Chief Financial Officer of IXYS, stated, "This revision does not affect the Company's reporting of its revenues for the last fiscal quarter or for the fiscal year just ended, and based on the slight but continuing firming up of our bookings, we continue to be cautiously optimistic about the short-term prospects of the Company. Accordingly, we still expect our revenues for our fiscal quarter ending June 30, 2002 to be 10-15% higher than the quarter just ended." IXYS designs, develops, manufactures and markets high power, high performance power semiconductors that improve system efficiency and reliability by converting electricity at relatively high voltage and current levels into the finely regulated power required by electronic products. IXYS focuses on the market for power semiconductors that are capable of processing greater than 500 watts of power. IXYS' products are used primarily to control electricity in power conversion systems for communications infrastructure applications, motor drives for industrial applications and sophisticated medical electronics applications. The statements in this news release relating to our expectations for our first fiscal quarter ending June 30, 2002 involve risks and uncertainties that could cause actual results to differ from 1. predicted results. These risks and uncertainties include the effect that a continued slowdown in the semiconductor industry in general could have on our operations. Further information on other factors that could affect the Company's operations is detailed and included in the Company's Form 10-K for its fiscal year ended March 31, 2001, as filed with the Securities and Exchange Commission, which includes the IXYS Corporation audited financial statements as of March 31, 2001 and 2000. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements. Additional information may be obtained by visiting IXYS' website at http://www.ixys.com, or by contacting the Company directly. 2. IXYS CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (IN THOUSANDS, EXCEPT SHARE DATA) (UNAUDITED)
March 31, March 31, 2002 2001 --------- --------- ASSETS Current assets: Cash and cash equivalents $ 32,316 $ 45,182 Accounts receivable, net 16,697 26,303 Inventories, net 46,317 34,035 Prepaid expenses 593 309 Deferred income taxes 2,230 2,561 --------- --------- Total current assets 98,153 108,390 Plant and equipment, net 17,445 13,960 Other assets 6,417 4,749 Deferred income taxes 2,545 315 --------- --------- Total assets $ 124,560 $ 127,414 ========= ========= LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Current portion of capitalized lease obligations $ 2,391 $ 1,737 Current portion of notes payable to bank 700 754 Accounts payable 5,606 10,649 Accrued expenses and other liabilities 8,383 13,243 --------- --------- Total current liabilities 17,080 26,383 Capitalized lease and other long term obligations, net of current portion 4,888 3,425 Pension liabilities 7,373 4,882 --------- --------- Total liabilities 29,341 34,690 --------- --------- Common stock, $0.01 par value: 26,662,132 issued and outstanding in March 31, 2001 and 26,902,192 issued and 26,827,192 outstanding in March 31, 2002 268 267 Additional paid-in capital 92,340 91,873 Notes receivable from stockholders (853) (823) Retained earnings 5,827 3,889 Accumulated other comprehensive loss (2,363) (2,482) --------- --------- Stockholders' equity 95,219 92,724 --------- --------- Total liabilities and stockholders' equity $ 124,560 $ 127,414 ========= =========
3. IXYS CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (IN THOUSANDS, EXCEPT PER SHARE DATA) (UNAUDITED)
Three Months Ended Fiscal Year Ended March 31, March 31, ---------------------- ---------------------- 2002 2001 2002 2001 -------- -------- -------- -------- Net revenues $ 20,395 $ 32,008 $ 82,821 $111,389 Cost of goods sold 14,780 19,651 56,918 69,967 -------- -------- -------- -------- Gross profit 5,615 12,357 25,903 41,422 -------- -------- -------- -------- Operating expenses: Research, development and engineering 1,879 1,985 5,728 6,081 Selling, general and administrative 3,424 3,652 12,884 13,959 -------- -------- -------- -------- Total operating expenses 5,303 5,637 18,612 20,040 -------- -------- -------- -------- Operating income 312 6,720 7,291 21,382 Other income(expense), net (1,255) (564) (4,169) 526 -------- -------- -------- -------- Income(loss) before income tax provision (943) 6,156 3,122 21,908 Provision for income tax (359) 2,339 1,184 8,321 -------- -------- -------- -------- Net income (loss) ($ 584) $ 3,817 $ 1,938 $ 13,587 ======== ======== ======== ======== Net income(loss) per share - basic ($ 0.02) $ 0.15 $ 0.07 $ 0.54 ======== ======== ======== ======== Weighted average shares used in per share calculation - basic 26,771 26,000 26,745 25,239 ======== ======== ======== ======== Net income(loss) per share - diluted ($ 0.02) $ 0.13 $ 0.07 $ 0.49 ======== ======== ======== ======== Weighted average shares used in per share calculation - diluted 26,771 28,436 29,004 27,774 ======== ======== ======== ========
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