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:July 28, 2016
(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 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 July 28, 2016, 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 July 28, 2016.

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:	July 28, 2016

EX-99.1

Exhibit 99.1

IXYS Corporation Reports Results for the June 2016 Quarter

Quarter-End Highlights:

• Net revenues were $80.6 million, a sequential increase of $866,000 from $79.8 million in the March 2016 quarter.
• The company generated $7.5 million in cash from operations during the quarter.
• IXYS declared a $0.04 per share dividend, marking the fifteenth consecutive quarter of dividends.

LEIDEN, Netherlands & MILPITAS, Calif.--(BUSINESS WIRE)--July 28, 2016--IXYS Corporation (NASDAQ:IXYS), an international power semiconductor and IC company, today announced financial results for its first fiscal quarter ended June 30, 2016.

Net revenues for the quarter were $80.6 million versus $82.0 million in net revenues for the same period in the prior fiscal year. Sequentially, June 2016 quarter net revenues were up $866,000 from $79.8 million in the March 2016 quarter. This marks the second consecutive quarter that revenues increased.

“We are pleased that IXYS has achieved strong revenues, despite general industry softness. We anticipate the continuation of this growth trend, as IXYS’ current product portfolio augmented with new technologies is likely to be competitive in the months ahead,” commented Dr. Nathan Zommer, CEO and Founder of IXYS. “We are reaching new customers in evolving fields like IoT, electric vehicles and alternative energy, while remaining focused on the demands of our core customer base in industrial, telecom and medical applications. When global markets return to normal levels, we expect these initiatives will further enhance sales.”

Net income for the quarter ended June 30, 2016 was $3.0 million, or $0.09 per diluted share, which was the same as the net income of $3.0 million, or $0.09 per diluted share, for the June 2015 quarter.

June 2016 quarter non-GAAP net income, which excludes the impact of charges for the amortization of acquired intangible assets and stock compensation, was $4.5 million, or $0.14 per diluted share, as compared to the non-GAAP net income of $5.2 million, or $0.16 per diluted share, for the same period in the prior fiscal year.

Gross profit for the quarter ended June 30, 2016 was $24.0 million, or 29.8% of net revenues, as compared to gross profit of $25.6 million, or 31.2% of net revenues, for the same quarter in the prior fiscal year.

Adjusted EBITDA, which excludes stock-based compensation expense, was $9.6 million for the quarter ended June 30, 2016.

Cash and cash equivalents totaled $151.4 million at June 30, 2016, after generating $7.5 million in cash from operations during the quarter. The company declared a $0.04 per share dividend, highlighting the fifteenth consecutive quarter of dividends.

“We are optimistic about our growth prospects as IXYS’ financial metrics, including bookings and backlog, look promising. However, we must consider ongoing volatile macroeconomic conditions and the cyclical slowdown in the summer months,” said Mr. Uzi Sasson, President and Chief Financial Officer of IXYS. “Despite these adverse factors, we expect revenues in the September 2016 quarter to increase slightly from the June 2016 quarter.”

Non-GAAP Information

Included above and within the attached schedules are certain non-GAAP financial figures. During the quarter ended June 30, 2016, the company incurred non-cash charges, including those associated with amortization of intangible assets and stock compensation. Adjusting the net income in the June 30, 2016 quarter to exclude the impact of amortization of intangible assets and stock compensation expenses and the applicable tax at the effective tax rate for the period, results in a financial presentation for the company without the effect of these non-cash charges. Similarly, adjusted EBITDA for the June 30, 2016 quarter reflects the exclusion of depreciation and amortization, stock compensation expenses, as well as interest and taxes, and may serve as an indication of the company’s ability to service its debt. Management believes non-GAAP net income, non-GAAP net income per share and adjusted EBITDA are useful measures of operating performance. However, the non-GAAP measures should be considered in addition to, not as a substitute for or superior to, net income and net income per share or other financial measures prepared in accordance with GAAP.

These non-GAAP measures have limitations as analytical tools, and should not be considered in isolation or as substitutes for analysis of our results as reported under GAAP. Other companies in our industry may calculate non-GAAP net income, non-GAAP net income per share and adjusted EBITDA differently than we do, limiting their usefulness as comparative measures.

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 telecommunication industries. IXYS, with its subsidiaries, is a worldwide pioneer in the development of power semiconductors, solid state relays, high voltage integrated circuits, 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 play a vital role in reducing energy costs and consumption by optimizing the energy efficiency of everyday products. IXYS semiconductors are also key to developments of new medical devices and systems that provide unique solutions in diagnostics and therapy for the leading medical equipment OEMs worldwide. With an end-customer base of over 3,500 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 a growth trend, new technologies, new customers, customer demands, global markets, enhanced sales, growth prospects, bookings, backlog, macroeconomic conditions, a cyclical slowdown and our revenues in the September 2016 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, increased competition, cash flow difficulties, unanticipated technological hurdles, manufacturing challenges, capacity limitations, adverse changes in customer demand, declining economic conditions, increasing product costs or changes in currency exchange rates, among other things. Further information on other factors that could affect IXYS is detailed and included in reports that IXYS has filed with the Securities and Exchange Commission, including its Form 10-K for the fiscal year ended March 31, 2016. 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)
			June 30,			March 31,
				2016			2016
		ASSETS
Current assets:
Cash and cash equivalents			$	151,393		$	155,806
Restricted cash				272			277
Accounts receivable, net				41,063			38,440
Inventories, net				85,656			89,604
Prepaid expenses and other current assets				4,028			4,203
	Total current assets			282,412			288,330
Property, plant and equipment, net				44,325			42,623
Other assets				63,074			63,724
Deferred income taxes				27,825			28,024
	Total assets		$	417,636		$	422,701
	LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Current portion of capitalized lease obligations			$	-		$	-
Current portion of notes payable to bank				1,076			1,804
Accounts payable				12,272			11,416
Accrued expenses and other current liabilities				23,575			21,290
	Total current liabilities			36,923			34,510
Notes payable and other liabilities, net of current portion				85,137			92,589
Pension liabilities				15,620			16,307
	Total liabilities			137,680			143,406
Common stock				383			382
Additional paid-in capital				153,762			152,200
Retained earnings				148,727			146,979
Accumulated other comprehensive (loss)				(22,916	)		(20,266	)
	Stockholders' equity			279,956			279,295
	Total liabilities and stockholders' equity		$	417,636		$	422,701

IXYS CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data) (unaudited)
		Three Months Ended
		June 30,
			2016		2015
Net revenues		$	80,638	$	82,047
Cost of goods sold			56,644		56,445
	Gross profit		23,994		25,602
Operating expenses:
	Research, development and engineering		7,910		7,683
	Selling, general and administrative		10,038		10,636
	Amortization of intangibles		1,017		1,579
	Total operating expenses		18,965		19,898
	Operating income		5,029		5,704
Other (expense) income, net			242		(1,057	)
	Income before income tax provision		5,271		4,647
Provision for income tax			2,252		1,662
Net income		$	3,019	$	2,985
Net income per share - basic		$	0.10	$	0.09
Weighted average shares used in per share calculation - basic			31,401		31,746
Net income per share - diluted		$	0.09	$	0.09
Weighted average shares used in per share calculation - diluted			32,001		32,733

Reconciliation of net income to Non-GAAP net income (in thousands, unaudited):
	Three Months Ended
	June 30,
	2016	2015
Net income	$ 3,019	$ 2,985
Amortization of intangible assets	1,017	1,579
Stock compensation expense	855	988
Tax on stock compensation expense	(365)	(353)
Non-GAAP net income	$ 4,526	$ 5,199
Reconciliation of net income per share, diluted to Non-GAAP net income per share, diluted (unaudited):
	Three Months Ended
	June 30,
	2016	2015
Net income per share, diluted	$ 0.09	$ 0.09
Amortization of intangible assets	0.03	0.05
Stock compensation expense	0.03	0.03
Tax on stock compensation expense	(0.01)	(0.01)
Non-GAAP net income per share, diluted	$ 0.14	$ 0.16
Weighted average shares used in per share calculation, diluted	32,001	32,733

Adjusted EBITDA (in thousands, unaudited)
	Three Months Ended
	June 30,
		2016		2015
Net income	$	3,019	$	2,985
Add:
Income tax expense		2,252		1,662
Interest expense		635		314
Depreciation and amortization		2,832		3,784
Stock compensation expense		855		988
Adjusted EBITDA	$	9,593	$	9,733

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