-----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, FTWUnvka8g1D3PNvnGTNe7losIAh3cdkRbSVyTlifqENOBQGOCO7+UMxSRT6G8/i kCaz7M41VaoyMsBNWL8/tg== 0000891618-03-004265.txt : 20030811 0000891618-03-004265.hdr.sgml : 20030811 20030811163205 ACCESSION NUMBER: 0000891618-03-004265 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030811 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030811 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: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-26124 FILM NUMBER: 03834891 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 f92299e8vk.htm FORM 8-K DATED 8/11/2003 IXYS Corporation Form 8-K Dated 8/11/200
Table of Contents

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: August 11, 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.)

 

Item 7. Financial Statements and Exhibits
Item 12. Results of Operations and Financial Condition
SIGNATURES
EXHIBIT INDEX
EXHIBIT 99.1

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     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’s 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 August 11, 2003.

Item 12. Results of Operations and Financial Condition

     The following information is intended to be furnished and not filed. 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 August 11, 2003, IXYS issued a press release. The full text of IXYS’s press release is attached hereto as Exhibit 99.1.

 

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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: August 11, 2003

 

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EXHIBIT INDEX

             
Exhibit            
Number   Description        
 
       
99.1*   Text of press release issued by IXYS Corporation, dated August 11, 2003.

*   Furnished, not filed.

  EX-99.1 3 f92299exv99w1.txt EXHIBIT 99.1 Exhibit 99.1 Contact: Arnold Agbayani Vice President, Finance & CFO IXYS Corporation 3540 Bassett Street Santa Clara, California 95054 (408) 982-0700 IXYS RETURNS TO PROFITABILITY AND SHOWS RECORD QUARTERLY REVENUES WITH 46% INCREASE OVER PRIOR YEAR SANTA CLARA, CA. August 11, 2003 -- IXYS Corporation (NASDAQ:SYXI) today reported record revenues of $40.1 million for the quarter ended June 30, 2003, which is an increase of 46.1% over revenues of $27.4 million reported for the same quarter in the prior fiscal year, and a 6.0% sequential increase from revenues of $37.8 million reported for the quarter ended March 31, 2003. The results represent the sixth consecutive quarter of increased revenues and the fourth consecutive quarter with record revenues. Gross profit was $12.3 million, or 30.8% of net revenues, for the quarter ended June 30, 2003. This compares with a gross profit of $6.4 million, or 23.2% percent of net revenues, reported for the same quarter in the prior fiscal year. The net profit for the quarter ended June 30, 2003 was $443,000 ($0.01 per share, diluted), compared with the net loss of $1.4 million ($0.05 loss per share, diluted) reported for the same quarter in the prior fiscal year. The net profit in the quarter ended June 30, 2003 includes legal expenses associated with ongoing litigation totaling about $1.1 million. "The results indicate the strength of IXYS in its markets, beating the semiconductor industries' average as reported by the SIA significantly. The SIA reported worldwide revenues of semiconductors in the June 2003 quarter up 10.4% from last year, and up 3.2% sequentially. We have increased our penetration into the growing medical market and the material process, traction and consumer markets. Asia and Europe have been the growth engines in this quarter. Our new products continue to penetrate in the high power industrial and traction applications and in the telecom and RF sectors," said Nathan Zommer CEO of IXYS. "We are starting to enjoy the benefits of the synergies within our divisions, by introducing synergetic products. We are getting new orders in new market segments, in which we did not participate before, as a direct result of synergies. Closing the June quarter with consecutive sequential record revenues, and a book-to-bill ratio above one, speaks loudly for the prospects for our company." Arnold Agbayani, CFO of IXYS, said, "In light of the growth of the company, and to improve the financial reporting, we have reorganized our financial team, and added qualified controllers to our staff, in our head office and in Clare. We are seeing improved gross margins when compared to last year's results. The company broke the $40 million revenue level with an increase in backlog and an increase in cash. Financially, we gained strength and are poised to continue to invest for growth. Regarding our outlook, the September quarter is the `European Summer' quarter, we therefore expect revenues for the September quarter to be at about the same level as the June quarter just ended." 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 ICs that control flat panel displays, medical instruments and telecommunication products. The foregoing press release contains forward-looking statements. Forward-looking statements include those regarding the penetration of our products, synergies, new orders, our prospects, our potential for investments for growth and our expectations for our second fiscal quarter ending September 30, 2003. Actual results may vary materially from those contained in the forward-looking statements, due to unanticipated adverse variations in demand for our products, difficulties in marketing and selling our products and an inability to properly identify, or problems in implementing, perceived synergies Further information on other factors that could affect IXYS is detailed and included in IXYS's 10-K for the fiscal year ended March 31, 2003, 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. Additional information may be obtained by visiting IXYS' website at http://www.ixys.com, or by contacting the Company directly. IXYS CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share data) (unaudited)
March 31, June 30, 2003 2003 --------- --------- ASSETS Current assets: Cash and cash equivalents $ 42,842 $ 44,361 Accounts receivable, net 21,475 23,234 Inventories 49,162 51,217 Prepaid expenses and other assets 943 960 Deferred income taxes 10,285 10,172 --------- --------- Total current assets 124,707 129,944 Plant and equipment, net 28,715 28,249 Other assets 5,655 5,642 Deferred income taxes 2,563 2,789 Goodwill 21,417 21,417 --------- --------- Total assets $ 183,057 $ 188,041 ========= ========= LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Current portion of capitalized lease obligations $ 3,238 $ 3,490 Current portion of notes payable to bank 700 800 Accounts payable 11,177 14,099 Accrued expenses and other liabilities 14,167 14,920 --------- --------- Total current liabilities 29,282 33,309 Capitalized lease and other long term obligations, net of current portion 5,042 4,397 Pension liabilities 9,924 10,523 --------- --------- Total liabilities 44,248 48,229 --------- --------- Common stock 320 320 Additional paid-in capital 144,835 145,085 Deferred compensation (26) (18) Notes receivable from stockholders (913) (913) Accumulated deficit (6,318) (5,875) Accumulated other comprehensive loss 1,358 1,660 Treasury stock (447) (447) --------- --------- Stockholders' equity 138,809 139,812 --------- --------- Total liabilities and stockholders' equity $ 183,057 $ 188,041 ========= =========
3 IXYS CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (IN THOUSANDS, EXCEPT SHARE DATA) (UNAUDITED)
Three Months Ended June 30, ------------------------ 2002 2003 -------- -------- Net revenues $27,437 $40,096 Cost of goods sold 21,061 27,755 -------- -------- Gross profit 6,376 12,341 -------- -------- Operating expenses: Research, development and engineering 2,186 4,035 Selling, general and administrative 5,115 6,277 Amortization of intangibles 90 212 -------- -------- Total operating expenses 7,391 10,524 -------- -------- Operating income (1,015) 1,817 Other expense, net (1,188) (1,135) -------- -------- Income (loss) before income tax (provision) benefit (2,203) 682 Income tax (provision) benefit 785 (239) -------- -------- Net income (loss) ($1,418) $443 ======== ======== Net income (loss) per share - basic ($0.05) $0.01 ======== ======== Weighted average shares used in per share calculation - basic 27,999 31,986 ======== ======== Net income (loss) per share - diluted ($0.05) $0.01 ======== ======== Weighted shares used in per share calculation - diluted 27,999 35,113 ======== ========
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