Diodes Inc. (DIOD) revealed earnings for third quarter that decreased from the same period last year and missed the Street estimates.
The company's bottom line came in at $48.7 million, or $1.05 per share. This compares with $86.4 million, or $1.88 per share, in last year's third quarter.
Excluding items, Diodes Inc. reported adjusted earnings of $52.5 million or $1.13 per share for the period.
Analysts on average had expected the company to earn $1.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 22.4% to $404.6 million from $521.3 million last year.
Diodes Inc. earnings at a glance (GAAP) :
-Earnings (Q3): $48.7 Mln. vs. $86.4 Mln. last year.
-EPS (Q3): $1.05 vs. $1.88 last year.
-Analyst Estimates: $1.22
-Revenue (Q3): $404.6 Mln vs. $521.3 Mln last year.
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