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:January 5, 2009
(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, CA 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 January 6, 2009, IXYS issued a press release.  The text of IXYS’s press release is attached hereto as Exhibit 99.1.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 5, 2009, the Compensation Committee of the Board of Directors of IXYS approved and ratified a 10% reduction in the salaries of Nathan Zommer, Chief Executive Officer, and Uzi Sasson, Chief Operating Officer and Chief Financial Officer.  Dr. Zommer’s annual salary rate is now $509,400 and Mr. Sasson’s annual salary rate is now $297,000.

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 January 6, 2009.

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/ Uzi Sasson
		Uzi Sasson, Vice President, Chief
		Operating Officer and Chief Financial
		Officer (Principal Financial Officer)
Date:	January 9, 2009

EX-99.1

Exhibit 99.1

IXYS Announces Preliminary Estimate of Revenues for the Quarter Ended December 31, 2008 and Suspension of Dividend

MILPITAS, Calif.--(BUSINESS WIRE)--January 6, 2009--IXYS Corporation (NASDAQ:IXYS), a Silicon Valley power semiconductor company, today announced that it expected its net revenues for the quarter ended December 31, 2008 would be in the range of $56 to $58 million when all accounting adjustments are completed.

In light of the general economic decline, many of the company’s customers reduced their orders or delayed delivery into calendar 2009. This caused a significant slowdown in business activity as the December 2008 quarter progressed. To address current economic conditions, the company has implemented several aggressive cost-cutting measures, including, but not limited to, reducing the number of personnel, 10% salary reductions for many U.S. employees (including the CEO and the COO), and 10% reductions in fees paid to the members of its Board of Directors. IXYS is considering additional cost-cutting measures to further reduce its expenses in line with the reduced revenue levels.

To conserve cash, the Board of Directors also suspended the company’s cash dividend indefinitely. The company’s previously announced stock repurchase program remains in effect.

About IXYS Corporation

IXYS Corporation makes and markets technology-driven products to improve power conversion efficiency, generate solar and wind power and provide efficient motor control for industrial applications. IXYS offers a diversified product base that addresses worldwide needs for power control, electrical efficiency, renewable energy, telecommunications, medical devices, electronic displays and RF power.

Safe Harbor Statement

The foregoing press release contains forward-looking statements, including those related to revenue expectations, cost-cutting measures and cash conservation. Further information on other factors that could affect our operations is detailed and included in our Form 10-Q for the fiscal quarter ended September 30, 2008, 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.

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