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:October 25, 2012
(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 October 25, 2012, 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 October 25, 2012.

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, President and Chief
		Financial Officer (Principal Financial
		Officer)
Date:	October 25, 2012

EX-99.1

Exhibit 99.1

IXYS Announces Results for the Second Fiscal Quarter Ended September 30, 2012

MILPITAS, Calif.--(BUSINESS WIRE)--October 25, 2012--IXYS Corporation (NASDAQ:IXYS), an international power semiconductor and IC company, today announced results for its second fiscal quarter ended September 30, 2012.

Net revenues in the quarter ended September 30, 2012 were $68.5 million, a decrease of $30.5 million, or 30.9%, as compared to net revenues of $99.0 million for the same period in the prior fiscal year.

For the six months ended September 30, 2012, IXYS reported net revenues of $149.3 million, a decrease of $51.5 million, or 25.6%, as compared with net revenues of $200.8 million for the same period in the prior fiscal year.

“Continued weakness in the industrial market has driven our revenues down. Our other traditional markets, which include the telecommunications and medical markets, have also shown weakness in demand. However, given our conservative approach to uncertainty, we braced IXYS for such conditions, refrained from any acquisition and concentrated on profitability, while continuing our focus on R&D and new products introductions,” commented Dr. Nathan Zommer, Chairman and CEO of IXYS. “It is important to note that we continue to retain our strong customer base in the industrial, alternative energy, medical, telecom and transportation markets through a pipeline of new products and design wins. As these markets rebound from the current slowdown, we are poised to return to our growth pattern with higher profitability.”

Cash and cash equivalents totaled $105.3 million at September 30, 2012, an increase of $6.1 million as compared to March 2012. The company had a profitable quarter, with record cash. During the quarter ended September 30, 2012, the company purchased about 221,000 shares of its common stock for about $2.1 million. IXYS can still purchase approximately 1.1 million shares under the current buyback programs.

“In addition to generating significant cash from operations, which resulted in another record quarter end cash balance, IXYS has been proactively monitoring its expenses, evidenced by the fact that our SG&A expenses, expressed in absolute dollars, have been the lowest in the last five quarters,” noted Uzi Sasson, President and CFO of IXYS.

Net income for the quarter ended September 30, 2012 was $2.4 million, or $0.07 per diluted share, as compared to a net income of $10.9 million, or $0.34 per diluted share, for the same quarter in the prior fiscal year. Net income for the six months ended September 30, 2012 was $8.4 million, or $0.26 per diluted share, as compared to a net income of $20.9 million, or $0.64 per diluted share, for the same period in the prior fiscal year.

Gross profit was $20.5 million, or 30.0% of net revenues, for the quarter ended September 30, 2012, as compared to gross profit of $31.5 million, or 31.8% of net revenues, for the same quarter in the prior fiscal year.

Gross profit for the six months ended September 30, 2012 was $47.7 million, or 31.9% of net revenues, as compared to a gross profit of $66.5 million, or 33.1% of net revenues, for the same period in the prior fiscal year.

“The credit constraints in Europe and the dramatic slowdown in Asia have adversely affected our performance,” stated Uzi Sasson, President and CFO of IXYS. “The feedback that we get from our suppliers and customers indicates that market volatility still prevails; therefore, we expect revenues for the December 2012 quarter to be relatively flat as compared to the revenues for the September 2012 quarter.”

About IXYS Corporation

Since its founding in Silicon Valley, IXYS Corporation has been developing technology-driven products to improve energy conversion efficiency, generate clean energy, improve automation, and provide advanced products for the transportation, medical and telecommunications industries. IXYS, with its subsidiaries, is a worldwide pioneer in the development of power semiconductors, solid-state relays, high voltage integrated circuits (HVIC) and microcontrollers that are necessary in conserving energy and in reducing the world’s dependence on fossil fuels.

Diminishing natural resources, demand for renewable energy and environmental directives for energy efficiency represent a significant challenge. IXYS’ power semiconductors and mixed-signal integrated circuits (IC) play a vital role in reducing energy costs and consumption by optimizing the energy efficiency of everyday products. With an end-customer base of over 2,000 telecommunications, transportation, industrial, medical and consumer companies, IXYS is a worldwide recognized provider of advanced semiconductors.

Additional information may be obtained by visiting IXYS’ website at http://www.ixys.com, or by contacting the company directly.

Safe Harbor Statement

The foregoing press release contains forward-looking statements, including those related to our customer base, new products, design wins, a rebound, a return to our growth pattern with higher profitability, feedback, market volatility and our expectations for revenues during the December 2012 quarter. Actual results may vary materially from those contained in the forward-looking statements, due to adverse macroeconomic events in Europe, Asia or the United States, changes in customer delivery schedules, the cancellation of orders, an unanticipated decline in our business, increased competition, cash flow difficulties, unanticipated technological hurdles, adverse changes in customer demand and increasing product costs, among other things. Further information on other factors that could affect IXYS is detailed and included in reports IXYS filed with the Securities and Exchange Commission including its Form 10-Q for the quarter ended June 30, 2012. IXYS undertakes no obligation to publicly release the results of any revisions to these forward-looking statements.

IXYS CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
(unaudited)
	September 30,			March 31,
	2012			2012
ASSETS
Current assets:
Cash and cash equivalents	$	105,251		$	99,113
Accounts receivable, net		38,130			48,420
Other receivables		2,039			853
Inventories, net		89,583			86,240
Prepaid expenses and other current assets		4,530			6,081
Deferred income taxes		8,410			8,450
Total current assets		247,943			249,157
Plant and equipment, net		52,760			56,071
Other assets		16,178			13,053
Deferred income taxes		25,415			25,629
Total assets	$	342,296		$	343,910
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Current portion of capitalized lease obligations	$	2,535		$	2,873
Current portion of notes payable to bank		961			1,696
Accounts payable		14,215			14,427
Accrued expenses and other current liabilities		17,637			22,023
Total current liabilities		35,348			41,019
Capitalized lease and other long term obligations, net of current portion		31,664			33,783
Pension liabilities		14,288			15,001
Total liabilities		81,300			89,803
Common stock		379			378
Additional paid-in capital		142,299			141,445
Retained earnings		118,479			110,194
Accumulated other comprehensive income		(161	)		2,090
Stockholders' equity		260,996			254,107
Total liabilities and stockholders' equity	$	342,296		$	343,910

IXYS CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)
	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2012		2011		2012		2011
Net revenues	$	68,461	$	99,004	$	149,318	$	200,782
Cost of goods sold		47,943		67,526		101,611		134,269
Gross profit		20,518		31,478		47,707		66,513
Operating expenses:
Research, development and engineering		6,752		6,504		13,401		13,437
Selling, general and administrative		9,905		10,186		21,092		21,315
Amortization of intangibles		484		603		1,124		1,245
Total operating expenses		17,141		17,293		35,617		35,997
Operating income		3,377		14,185		12,090		30,516
Other income (expense), net		56		1,460		584		851
Income before income tax provision		3,433		15,645		12,674		31,367
Provision for income tax		1,076		4,698		4,310		10,444
Net income	$	2,357	$	10,947	$	8,364	$	20,923
Net income per share - basic	$	0.08	$	0.35	$	0.27	$	0.67
Weighted average shares used in per share calculation - basic		31,310		31,383		31,331		31,445
Net income per share - diluted	$	0.07	$	0.34	$	0.26	$	0.64
Weighted average shares used in per share calculation - diluted		31,975		32,545		32,192		32,669

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