Diodes Incorporated Reports Fourth Quarter and Fiscal 2015 Financial Results

(See the reconciliation tables of net income to non-GAAP net income near the end of the release for further details.)

Included in the fourth quarter 2015 GAAP and non-GAAP net income was approximately $2.5 million, net of tax, of non-cash share-based compensation expense. Excluding share-based compensation expense, both GAAP and non-GAAP diluted EPS would have increased by an additional $0.05 per share for each of the fourth quarter 2015, the third quarter 2015 and the fourth quarter 2014.

EBITDA, which represents earnings before net interest expense, income tax, depreciation and amortization, for the fourth quarter 2015, was $24.4 million, compared to $29.7 million for the third quarter 2015 and $42.7 million for the fourth quarter 2014. For a reconciliation of GAAP net income to EBITDA (non-GAAP), see the table near the end of the release for further details.

For the fourth quarter 2015, net cash provided by operating activities was $21.4 million. Net cash flow was $29.7 million, which reflects the pay-down of $18.8 million of long-term debt. Free cash flow was ($16.9) million, which includes $38.2 million of capital expenditures.

Fiscal 2015

For 2015, revenue was $848.9 million, a decrease of 4.7 percent from the $890.7 million in 2014. Gross profit was $248.8 million, or 29.3 percent of revenue, compared to $277.3 million, or 31.1 percent of revenue, in the prior year.

GAAP net income was $29.8 million, or $0.60 per diluted share, compared to $63.7 million, or $1.31 per diluted share, in 2014. Non-GAAP net income for 2015 was $42.3 million, or $0.86 per diluted share, which excluded, net of tax, $6.9 million of non-cash acquisition-related intangible asset amortization costs, $4.0 million of purchase price accounting adjustments and transaction costs, $1.3 million asset impairment charges and $0.4 million of severance costs, compared to non-GAAP net income of $70.1 million, or $1.44 per diluted share, in the prior year. The following is a summary reconciliation of GAAP net income to non-GAAP net income and per share data, net of tax (in thousands, except per share data):

        Twelve Months Ended
December 31, 2015
GAAP net income $ 29,772
 
GAAP diluted earnings per share $ 0.60
 
Adjustments to reconcile net income to Non-GAAP net income:
 
M&A Activities
 
Pericom 4,867
 
Inventory adjustment 2,907
 
Transaction costs 971
 
Retention costs 86
 
Amortization of acquisition related intangible assets 903
 
Others 6,037
 
Retention costs 70
 
Amortization of acquisition related intangible assets 5,967
 
Impairment loss on long-lived assets 1,250
 
Severance   419
 
Non-GAAP net income $ 42,345
 
Non-GAAP diluted earnings per share $ 0.86

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13  Next Page »



Review Article Be the first to review this article
Featured Video
Latest Blog Posts
Alex Carrick, Chief Economist at ConstructConnectThe AEC Lens
by Alex Carrick, Chief Economist at ConstructConnect
12 Mid-January Economic Nuggets
VectorworksVectorworks Blog
by Vectorworks
You’re Probably Doing BIM Without Knowing It!
Jobs
ASIC Architects and Hardware Engineers at D. E. Shaw Research for D. E. Shaw Research at New York, New York
Mid-Level Landscape Architect/Designer for Studio-MLA at Los Angeles, California
Director, Industrial Machinery Solutions- SISW PLM for Siemens AG at Livonia, Michigan
GIS Specialist for City of Ithaca at ithaca, New York
Upcoming Events
Digital Built Week Americas at Anaheim CA - Jun 14, 2022 - Dec 31, 1969
Utopian and Sacred Architecture Studies (USAS) - 2nd Edition at University Way, Dockland Campus London, E16 2RD, UK London --Choose One-- United Kingdom - Jun 14 - 15, 2022
HxGN LIVE Global 2022 - Future of Manufacturing at Las Vegas NV - Jun 20 - 23, 2022



© 2022 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
TechJobsCafe - Technical Jobs and Resumes EDACafe - Electronic Design Automation GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise