8-K

UNITED STATESSECURITIES 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:February 6, 2008
(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.)

1590 Buckeye Drive

Milpitas, California 95035

(Address of Principal Executive Offices and Zip Code)

Registrant’s telephone number, including area code: (408) 457-9000

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:

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

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

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

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

Item 2.02     Results of Operations and Financial Condition.

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 February 6, 2008, 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 February 6, 2008.

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 hereunto duly authorized.

		IXYS CORPORATION
		By: /s/ Uzi Sasson
		Uzi Sasson, Chief Operating Officer and
		Chief Financial Officer (Principal
		Financial Officer)
Date:	February 6, 2008

EX-99.1

Exhibit 99.1

IXYS Corporation Announces December Quarter Results

MILPITAS, Calif.--(BUSINESS WIRE)--IXYS Corporation (NASDAQ:IXYS) today reported net revenues of $73.1 million for the third fiscal quarter ended December 31, 2007, an increase of 1.2% as compared with net revenues of $72.3 million for the same period in the prior fiscal year.

For the nine months ended December 31, 2007, IXYS reported net revenues of $225.2 million, an increase of 6.3% as compared with net revenues of $211.9 million for the same period in the prior fiscal year.

“Our record $111 million backlog illustrates the strength of our business, mainly in the power electronics sector, despite the tough market conditions that have evolved in the general semiconductor industry,” said Dr. Nathan Zommer, Chief Executive Officer of IXYS. “To maintain a competitive position, we continue to focus on delivering products and on improving our cost structure and the intra-company synergies between divisions. We are pleased to see that year to date, our power semiconductor products have continued to experience growth, fueled by the needs of industry to reduce energy costs and waste and to harness renewable and alternative sources. Year to date our power semiconductor revenues increased by 13% and our systems and RF power revenues have increased by 23%.”

Gross profit was $20.8 million, or 28.4% of net revenues, for the quarter ended December 31, 2007, as compared to gross profit of $22.5 million, or 31.1% of net revenues, for the same quarter in the prior fiscal year. Gross profit for the nine months ended December 31, 2007 was $63.1 million, or 28.0% of net revenues, as compared to a gross profit of $66.5 million, or 31.4% of net revenues, for the same period in the prior fiscal year.

“Gross margins were up sequentially, and we are working to continue this trend in future quarters. We are improving fab utilization in an effort to continue gross margin growth,” commented Dr. Zommer.

Net income for the quarter ended December 31, 2007, was $2.2 million, or $0.07 per diluted share, as compared to a loss of $106,000 or $0.00 per diluted share, for the same quarter in the prior fiscal year. Net income for the nine months ended December 31, 2007 was $13.2 million, or $0.39 per diluted share, as compared to net income of $28.0 million, or $0.80 per diluted share, for the same period in the prior fiscal year.

The company repurchased approximately 1.2 million IXYS shares for $9.5 million during the December 2007 quarter, and approximately 1.7 million IXYS shares for $14.6 million in the nine months ended December 2007. “As of December 31, 2007, about 216,000 shares remained available for repurchase under the existing repurchase authorization. We plan to continue buying back shares under our authorized stock repurchase program,” commented Uzi Sasson, COO and CFO.

“Our core business lines continue to show resilience in a highly volatile market. We, therefore, project revenues in the March 2008 quarter to be 3-5% higher than in the December 2007 quarter,” stated Mr. Sasson. “We continue to invest in R&D to develop products to address the needs of our core customer markets and to enter developing markets with innovative applications. Focused on energy savings, efficiency and renewable power, IXYS’ product developments portend business growth for the long term.”

About IXYS Corporation

Since its inception in 1983, IXYS Corporation has been developing technology-driven products to improve power conversion efficiency, generate solar and wind power and provide efficient motor control for industrial applications.

IXYS, and its subsidiary companies, offer a diversified product base that addresses worldwide needs for power control, electrical efficiency, renewable energy, telecommunications, medical devices, flexible displays and RF power. For more information, visit www.ixys.com.

Safe Harbor Statement

The foregoing press release contains forward-looking statements, including those related to backlog, cost structure, synergies, the trend in margins, improving fab utilization stock repurchase program, product developments, R&D investments and projection of revenues for the March 2008 quarter. Actual results may vary materially from those contained in the forward-looking statements, due to changes in customer delivery schedules, the cancellation of orders, an unanticipated decline in our business, capacity limits on our ability to manufacture our products, cash flow difficulties, unanticipated technological hurdles and increasing product costs, among other things. Further information on other factors that could affect IXYS is detailed and included in IXYS’ Form 10-Q for the fiscal quarter ended September 30, 2007, 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) (unaudited)
	December 31, 2007		March 31, 2007
ASSETS
Current assets:
Cash and cash equivalents	$	48,637	$	54,196
Accounts receivable, net		43,912		42,519
Other receivables		1,855		2,006
Inventories, net		87,138		85,965
Prepaid expenses and other current assets		1,533		1,262
Deferred income taxes		11,943		14,345
Total current assets		195,018		200,293
Plant and equipment, net		57,740		48,741
Other assets		14,581		11,780
Deferred income taxes		11,171		12,827
Total assets	$	278,510	$	273,641
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Current portion of capitalized lease obligations		4,553	$	3,686
Current portion of notes payable to bank		1,169		1,012
Accounts payable		16,671		19,926
Accrued expenses and other current liabilities		24,270		33,261
Total current liabilities		46,663		57,885
Capitalized lease and other long term obligations, net of current portion		29,722		17,772
Pension liabilities		17,202		16,875
Total liabilities		93,587		92,532
Common stock		353		350
Additional paid-in capital		131,511		143,038
Retained earnings		40,375		29,605
Accumulated other comprehensive income		12,684		8,116
Stockholders' equity		184,923		181,109
Total liabilities and stockholders' equity	$	278,510	$	273,641

IXYS CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) (unaudited)
	3 Months Ended Dec. 31						9 Months Ended Dec. 31
	2007			2006			2007			2006
Net revenues	$	73,136		$	72,274		$	225,202		$	211,890
Cost of goods sold		52,381			49,797			162,054			145,409
Gross profit		20,755			22,477			63,148			66,481
Operating expenses:
Research, development and engineering		5,345			4,890			15,549			14,919
Selling, general and administrative		10,723			10,278			31,460			33,162
Litigation provision		84			6,906			(5,895	)		(29,738	)
Total operating expenses		16,152			22,074			41,114			18,343
Operating income		4,603			403			22,034			48,138
Other income (expense), net		(1,307	)		(863	)		(1,911	)		(1,507	)
Income before income tax provision		3,296			(460	)		20,123			46,631
Provision for income tax expense		1,079			(354	)		6,953			18,653
Net income (loss)	$	2,217		$	(106	)	$	13,170		$	27,978
Net income per share - basic	$	0.07		$	(0.00	)	$	0.41		$	0.83
Weighted average shares used in per share calculation - basic		31,776			33,264			32,180			33,793
Net income per share - diluted	$	0.07		$	(0.00	)	$	0.39		$	0.80
Weighted average shares used in per share calculation - diluted		32,995			33,264			33,454			35,072

CONTACT:
IXYS Corporation
Uzi Sasson, 408-457-9000
COO & CFO