Diodes Incorporated (DIOD: Quote) Wednesday said its second-quarter GAAP net income was $6.7 million or $0.14 per share, compared to $18.0 million or $0.38 per share in the same period last year, hurt mainly by lower revenues.
Adjusted profit for the quarter was $6.4 million or $0.14 per share, down from $20.1 million or $0.43 per share in the prior year quarter.
On average, nine analysts polled by Thomson Reuters expected the company to earn $0.18 per share for the second quarter. Analysts' estimates typically exclude special items.
Second-quarter revenues totaled $159.24 million, down 6.2 percent from $169.81 million in the comparable quarter last year, while nine analysts expected revenues of $159.01 million for the period.
Looking ahead to the third quarter, the company forecast revenues to increase to a range of $162 million to $170 million. Analysts currently expect revenues of $155.53 million for the quarter.
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by RTT Staff Writer
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