Business
Diodes Incorporated Reports Fourth Quarter and Fiscal 2024 Financial Results
Exceeds 4Q Revenue Expectations and Achieves Over 5% Growth YoY PLANO, Texas--(BUSINESS WIRE)-- Diodes Incorporated (Diodes) (Nasdaq: DIOD) today reported
About this update from Diodes Incorporated
[{"type":"text","content":"\nExceeds 4Q Revenue Expectations and Achieves Over 5% Growth YoY\n\n\n PLANO, Texas--(BUSINESS WIRE)--\nDiodes Incorporated (Diodes) (Nasdaq: DIOD) today reported its financial results for the fourth quarter and year ended December 31, 2024.\n\n\nFourth Quarter Highlights\n\n\n\nRevenue was $339.3 million, compared to $350.1 million in the prior quarter and $322.7 million in the fourth quarter 2023;\n\n\n\nGAAP gross profit was $110.9 million, compared to $118.0 million in the prior quarter and $112.5 million in the same quarter a year ago;\n\n\n\nGAAP gross profit margin was 32.7 percent, compared to 33.7 percent in the prior quarter and 34.9 percent in the fourth quarter of 2023;\n\n\n\nGAAP operating income was $11.9 million, or 3.5 percent of revenue, compared to $21.9 million, or 6.3 percent of revenue, in the prior quarter and compared to $20.7 million or 6.4 percent in the fourth quarter of 2023;\n\n\n\nGAAP net income was $8.2 million, compared to the $13.7 million last quarter and $25.3 million during the same quarter a year ago;\n\n\n\nNon-GAAP adjusted net income was $12.5 million, compared to $20.1 million in the prior quarter and $23.4 million in the same quarter a year ago;\n\n\n\nGAAP EPS was $0.18 per diluted share, compared to $0.30 per diluted share in the prior quarter and $0.55 per diluted share in the fourth quarter of 2023;\n\n\n\nNon-GAAP EPS was $0.27 per diluted share, compared to $0.43 per diluted share in the prior quarter and $0.51 per diluted share in the same quarter a year ago;\n\n\n\nExcluding $5.3 million, net of tax, non-cash share-based compensation expense, both GAAP net income and non-GAAP adjusted net income would have increased by $0.11 per diluted share;\n\n\n\nEBITDA was $40.7 million, or 12.0 percent of revenue, compared to $46.9 million, or 13.4 percent of revenue in the prior quarter and $58.4 million, or 18.1 percent of revenue during the same quarter last year; and\n\n\n\nAchieved $81.8 million cash flow from operations and $62.1 million of free cash flow, including $19.7 million of capital expenditures. Net cash flow was a negative $2.4 million, which includes the net pay-down of $3.8 million of total debt.\n\n\n\nCommenting on the results, Gary Yu, President of Diodes, stated, “Our above seasonal revenue results in the fourth quarter reflect the improving momentum we have seen ove...