-----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, FS+bFTAVsQ2JfA5qCS94Bm3E0WZ/mMvRNNtb7sRu2YvjHmb4FTXASfcXHRvk1p4O X7UbJC5jouhLdWj8udp7NA== 0000950134-04-016404.txt : 20041104 0000950134-04-016404.hdr.sgml : 20041104 20041104163038 ACCESSION NUMBER: 0000950134-04-016404 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20041104 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041104 DATE AS OF CHANGE: 20041104 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: 041119981 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 f02998e8vk.htm FORM 8-K e8vk
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UNITED STATES
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: November 4, 2004
(Date of earliest event reported)

IXYS CORPORATION

(Exact name of registrant as specified in its charter)
         
Delaware
(State or other jurisdiction of
incorporation) 		  000-26124
(Commission File No.) 		  77-0140882
(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.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

TABLE OF CONTENTS

Item 2.02 Results of Operations and Financial Conditions.
Item 9.01 Financial Statements and Exhibits
SIGNATURES
EXHIBIT INDEX
EXHIBIT 99.1

Table of Contents

Item 2.02 Results of Operations and Financial Conditions.

     The following information is furnished and 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 November 4, 2004, IXYS issued a press release. The text of IXYS’s press release is attached hereto as Exhibit 99.1.

Item 9.01 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 November 4, 2004.

 

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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    
       
Date: November 4, 2004    Arnold P. Agbayani, Senior Vice President, Finance and Chief Financial Officer (Principal Financial Officer)   
 

 

Table of Contents

EXHIBIT INDEX

     
Exhibit    
Number
   Description
99.1
  Text of press release issued by IXYS Corporation, dated November 4, 2004.

 

EX-99.1 2 f02998exv99w1.txt EXHIBIT 99.1 EXHIBIT 99.1 Contact: Arnold Agbayani Senior Vice President, Finance & CFO IXYS Corporation 3540 Bassett Street Santa Clara, California 95054 IXYS REPORTS ELEVEN CONSECUTIVE QUARTERS OF REVENUE GROWTH Santa Clara, CA. November 4, 2004 -- IXYS Corporation (NASDAQ:SYXI) today reported revenues of $61.4 million for the quarter ended September 30, 2004, which is an increase of 43.0% over the $42.9 million in revenues for the same quarter in the prior fiscal year. For the six months ended September 30, 2004, IXYS reported revenues of $121.3 million, which was a 46.2% increase as compared to $83.0 million in revenues for the same six-month period in the prior fiscal year. "IXYS has shown eleven consecutive quarters of revenue growth and nine consecutive quarters of record revenues. We ended the September quarter with $76 million in backlog, which is just 6% lower than our prior quarter record backlog, indicating a slowing of our revenue growth. However the results indicate the leverage of our revenue growth to date on our profitability and cash generation. Profits for the six months ended September 2004 increased by about 1600% over last year's comparable period," said Dr. Nathan Zommer, Chief Executive Officer of IXYS. Gross profit was $19.5 million, or 31.8% of net sales, for the quarter ended September 30, 2004. This represents a 73.6% increase over gross profit of $11.2 million, or 26.2% percent of net sales, for the same quarter in the prior fiscal year. For the six-month period ending September 30, 2004, gross profit was $36.7 million, or 30.2% of net sales. This represents a 55.6% increase in gross profit from $23.6 million, or 28.4% of net sales, for the same six-month period of the prior fiscal year. Net income in the quarter ended September 30, 2004 was $3.8 million ($0.11 per share, diluted), as compared to net loss of $109,000 ($0.00 per share, diluted) in the quarter ended September 30, 2003. For the six-month period ended September 30, 2004, net income was $5.7 million ($0.16 per share, diluted), as compared to net income of $335,000 ($0.01 per share, diluted) in the same six-month period of the prior fiscal year. Arnold Agbayani, Chief Financial Officer of IXYS, said, "The September and December quarters have normally been weaker quarters for the company. We therefore expect that our December quarter revenues will be flat as compared to our September quarter revenues." IXYS develops and markets primarily high performance power semiconductor 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 a combination of digital and analog integrated circuits to control flat panel displays, medical instruments and telecommunications products. SAFE HARBOR STATEMENT The foregoing press release contains forward-looking statements. Forward looking statements include those regarding backlog, our revenue growth and our expectations for revenues in the December quarter. Actual results may vary materially from those contained in the forward-looking statements, due to unanticipated adverse variations in demand for our products, the cancellation of orders, unexpected technical challenges, difficulties in marketing and selling our products and delays or disruptions in the manufacture of our products. Further information on other risks that could affect IXYS is detailed and included in IXYS' 10-Q for the fiscal quarter ended June 30, 2004, 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 IXYS directly. IXYS CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (IN THOUSANDS) (UNAUDITED)
September 30, March 31, 2004 2004 ------------- ------------- ASSETS Current assets: Cash and cash equivalents $ 49,659 $ 43,199 Accounts receivable, net 37,750 33,131 Inventories, net 51,049 48,055 Prepaid expenses 2,763 1,710 Deferred income taxes 8,090 7,769 ------------- ------------- Total current assets 149,311 133,864 Plant and equipment, net 24,668 26,369 Other assets 28,980 28,533 Deferred income taxes 9,399 9,503 ------------- ------------- Total assets $ 212,358 $ 198,269 ============= ============= LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Current portion of capitalized lease obligations $ 2,812 $ 3,447 Current portion of notes payable to bank 700 800 Accounts payable 18,022 15,277 Accrued expenses and other liabilities 22,997 18,094 ------------- ------------- Total current liabilities 44,531 37,618 Capitalized lease and other long term obligations, net of current portion 2,580 3,061 Pension liabilities 12,553 12,059 ------------- ------------- Total liabilities 59,664 52,738 ------------- ------------- Common stock 331 331 Additional paid-in capital 150,972 150,617 Notes receivable from stockholders (1,128) (1,388) Retained earnings (5,046) (10,750) Accumulated other comprehensive income 7,565 6,721 ------------- ------------- Stockholders' equity 152,694 145,531 ------------- ------------- Total liabilities and stockholders' equity $ 212,358 $ 198,269 ============= =============
3 IXYS CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (IN THOUSANDS, EXCEPT PER SHARE DATA) (UNAUDITED)
Three Months Ended Six Months Ended September 30, September 30, -------------------------- -------------------------- 2004 2003 2004 2003 ----------- ----------- ----------- ----------- Net revenues $ 61,385 $ 42,926 $ 121,339 $ 83,022 Cost of goods sold 41,874 31,689 84,653 59,444 ----------- ----------- ----------- ----------- Gross profit 19,511 11,237 36,686 23,578 ----------- ----------- ----------- ----------- Operating expenses: Research, development and engineering 5,071 3,855 9,623 7,889 Selling, general and administrative 8,151 7,447 17,527 15,173 ----------- ----------- ----------- ----------- Total operating expenses 13,222 11,302 27,150 23,062 ----------- ----------- ----------- ----------- Operating income (loss) 6,289 (65) 9,536 516 Other income (expense), net (14) (93) (217) 9 ----------- ----------- ----------- ----------- Income (loss) before income tax provision 6,275 (158) 9,319 525 Provision for income tax expense (benefit) 2,434 (49) 3,615 190 ----------- ----------- ----------- ----------- Net income (loss) $ 3,841 $ (109) $ 5,704 $ 335 =========== =========== =========== =========== Net income (loss) per share - basic $ 0.12 $ (0.00) $ 0.17 $ 0.01 =========== =========== =========== =========== Weighted average shares used in per share calculation - basic 33,007 32,213 32,980 32,051 =========== =========== =========== =========== Net income (loss) per share - diluted $ 0.11 $ (0.00) $ 0.16 $ 0.01 =========== =========== =========== =========== Weighted average shares used in per share calculation - diluted 34,483 32,213 34,772 33,061 =========== =========== =========== ===========
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