8-K

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 13, 2003
(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.)

TABLE OF CONTENTS

	Item 7. Financial Statements and Exhibits
	Item 9. Regulation FD Disclosure
SIGNATURES
EXHIBIT INDEX
EXHIBIT 99.1

     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 (“IXYS”) 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.

Item 7. Financial Statements and Exhibits

(c) Exhibits

           The following exhibit is furnished (not filed) herewith:

Exhibit
Number	Description
99.1	Text of press release issued by IXYS Corporation, dated May 13, 2003.

Item 9. Regulation FD Disclosure

     In accordance with Securities and Exchange Commission Release No. 33-8216, the following information, which is intended to be furnished under Item 12, “Results of Operations and Financial Condition,” is instead being furnished under Item 9, “Regulation FD Disclosure.” This information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

     On May 13, 2003, IXYS issued a press release. The full text of IXYS’s press release is attached hereto as Exhibit 99.1.

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 15, 2003

EXHIBIT INDEX

Exhibit
Number	Description
99.1*	Text of press release issued by IXYS Corporation., dated May 13, 2003.

* Furnished, not filed.

EX-99.1 3 f90352exv99w1.htm EXHIBIT 99.1

Exhibit 99.1

Contact:	Arnold Agbayani
	Senior Vice President, Finance & CFO
	IXYS Corporation
	3540 Bassett Street
	Santa Clara, California 95054

IXYS DISCOVERS BOOKKEEPING ERRORS RESULTING IN AN INVENTORY OVERSTATEMENT; PLANS TO RESTATE NINE MONTHS ENDED DECEMBER 31, 2002

SANTA CLARA, Calif., May 13, 2003 — During the process of conducting its annual audit for the fiscal year ended March 31, 2003, IXYS Corporation (NASDAQ: SYXI) has identified bookkeeping errors in its accounting that resulted in the overstatement of inventories during the nine months ended December 31, 2002.

The amount of the adjustment to correct the bookkeeping errors as of December 31, 2002 was $4.1 million. IXYS plans to restate its financial statements for each of the fiscal quarters during the nine months ended December 31, 2002. The booking of the adjustment will increase IXYS’s net loss for the nine months ended December 31, 2002. In connection with its ongoing audit, IXYS is continuing to review its accounting relating to inventories and other accounts.

IXYS develops and markets primarily high performance power semiconductors and control ICs that are used in controlling and converting electrical power efficiently in power systems for telecommunication infrastructure, motor drives, medical systems and transportation. IXYS also serves emerging markets with digital and analog integrated circuits that control flat panel displays, medical instruments and telecommunication products.

Safe Harbor Statement

The foregoing press release contains forward-looking statements. Forward-looking statements include those regarding the planned restatement of the three fiscal quarters during the nine months ended December 31, 2002, the expected increase in IXYS’s net loss for the nine months ended December 31, 2002, and the review of IXYS’s accounting related to inventories and other accounts. Actual results may vary materially from those contained in the forward-looking statements, due to additional errors and adjustments that could be identified during IXYS’s preparation of the restated financial statements and review of those statements by IXYS’s outside auditors. The full impact of the planned restatement is unknown at this time. Further information on other factors that could affect IXYS is detailed and included in IXYS’s 10-K, as amended, as filed with the Securities and Exchange Commission. IXYS undertakes no obligation to publicly release the results of any revisions to these forward-looking statements.

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EX-99.1

Exhibit 99.1