Product category:
Power Supply ICs and Controllers
News Release from: International Rectifier
Edited by the Electronicstalk Editorial
Team on 31 January 2005
Earnings rise for IR
International Rectifier has reported adjusted earnings of $44.8 million (or $0.62 per share) for the December quarter.
International Rectifier has reported adjusted earnings of $44.8 million (or $0.62 per share) for the December quarter This compares with $42.4 million (or $0.59 per share) for the September quarter and $24.6 million (or $0.36 per share) for the prior-year quarter
This article was originally published on Electronicstalk on 15 Feb 2001 at 8.00am (UK)
Related stories
1kV rad-hard power MOSFET saves satellite space
International Rectifier has introduced the world's first 1000V radiation-hardened power MOSFET.
MOSFETs improve 12V-input converter efficiency
Two new 20V HEXFET power MOSFET families from International Rectifier are designed to increase efficiency by up to 4% in 12V-input DC/DC convertors.
The adjusted December quarter earnings excluded a $6.8 million pretax charge for previously announced severance and restructuring activities.
The adjusted September quarter earnings excluded $6.7 million in severance and restructuring-related pretax charges.
For the prior-year quarter, adjusted earnings excluded $10.1 million in severance and restructuring-related pretax charges.
Further reading
MOSFETs improve power density on both sides
New from International Rectifier are two TO-220-packaged HEXFET power MOSFETs that maximise power density and performance in primary- and secondary-side DC/DC convertor circuits.
Rad-hard MOSFETs protect and survive
With high radiation hardness and unparalleled single event effect (SEE) immunity, International Rectifier's new R5 MOSFETs are well suited for systems that must survive penetrating gamma rays.
Reference design simplifies high-efficiency PSUs
International Rectifier has released a reference design for its recently introduced IR1176 application-specific synchronous rectification IC (SRIC).
On a GAAP basis, net income was $39.5 million (or $0.55 per share) for the December quarter versus $37.6 million (or $0.53 per share) for the September quarter and $16.9 million (or $0.25 per share) for the prior-year quarter.
Revenues were $298.6 million in the December quarter, up 18% from $252.3 million in the prior-year quarter and down 4% from the September quarter.
Revenues from high performance analogue ICs and advanced circuit devices grew 47% from the prior-year quarter and now comprise 57% of revenues.
Overall proprietary products represent 69% of company revenues.
Proprietary product orders rose 2% sequentially and 13% year on year and represented 74% of total company orders compared with 64% a year ago.
As leadtimes continued to shorten, component orders were down 7% quarter to quarter and declined 30% year over year.
Total company bookings were down 2% from the September quarter.
Chief Executive Officer Alex Lidow stated: "Our focus on proprietary products continues to drive our margin expansion".
"Our December quarter gross margins increased another 60 basis points from the prior quarter, hitting an all-time record of 43.3%".
"IR proprietary product revenues grew 39% over the prior-year quarter".
"We generated $76 million in cash from operations and ended the quarter at $839 million in total cash and cash investments".
Channel inventories remained lean with IR shipments to distributors down 8% and distributor sales of IR products down 2%.
IR's inventories were relatively flat quarter to quarter at $161.5 million.
As expected, pricing was firm, down less than one%, in the December quarter.
IR secured several major design wins in the December quarter with proprietary product design wins growing 10% quarter on quarter and 33% year on year.
Lidow noted: "Today, we're announcing another major phase in IR's long-term strategy for moving to high value-added products".
"Since first detailing our plan in March of 2000 to transform our company from a commodity component orientation to a proprietary product focus, we have made significant progress".
"Over the past eight quarters, we have increased our proprietary product mix from 56% to 69% of revenues".
"During this period, sales from our fastest growing product category, high performance analogue ICs and advanced circuit devices, have more than doubled".
"Overall company gross margins have increased 11 percentage points over the same eight quarters".
"In addition, we have generated more than $360 million in cash from operations and maintain the strongest balance sheet in the company's history".
"We are now moving forward with the next phase of our transition".
"Over the next six quarters, we will continue to expand our proprietary product portfolio and plan to reach greater than 50% gross margins for the company within this period".
"This will involve a follow-on divestiture or discontinuation of $150 million in annual revenues that no longer add value to our business objectives".
"Our current visualisation does not include any restructuring charges associated with these activities".
"In the March quarter, revenues are expected to be flat to down 6% sequentially".
"We have more than 80% backlog coverage of our target revenue for the quarter".
"We expect our overall gross margin to be flat sequentially plus or minus a point".
"We have secured more than half a billion dollars of new design wins in the last four quarters that are ramping in production over calendar 2005, extending our leadership position in power management".
• International Rectifier: contact details and other news
• Email this article to a colleague
• Register for the free Electronicstalk email newsletter
• Electronicstalk Home Page
Search the Pro-Talk network of sites
