Product category:
Power Supply ICs and Controllers
News Release from: International Rectifier
Edited by the Electronicstalk Editorial
Team on 01 August 2005
Pricing pressure prunes IR profits
International Rectifier Corp has reported adjusted earnings of $38.4 million (or $0.54 per share) for the June quarter on revenues of $281.8 million.
International Rectifier Corp has reported adjusted earnings of $38.4 million (or $0.54 per share) for the June quarter on revenues of $281.8 million This compares with $41.7 million (or $0.56 per share) for the March quarter on revenues of $281.9 million
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.
For the June and March quarters, adjusted earnings excluded $12.4 million and $8.1 million in pretax charges, respectively, for severance and restructuring activities announced in December 2002.
As previously announced, a one-time $6.0 million pretax charge from the accelerated vesting of options also is excluded from the June quarter's adjusted earnings.
On a GAAP basis, net income was $24.7 million (or $0.35 per share) for the June quarter versus $35.7 million (or $0.48 per share) in the March quarter and $29.4 million (or $0.42 per share) for the prior-year quarter.
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).
Gross margin was 43.5% in the fourth quarter.
This compares with 44.4% in the March quarter and 41.2% in the year-ago fourth quarter.
Pricing pressure on commodity products principally was responsible for the sequential decline.
For the fiscal year just ended, adjusted earnings per share were up 43% over the previous fiscal year.
Adjusted net income was $167.3 million (or $2.30 per share) on revenues of $1.17 billion, compared with prior-year adjusted net income of $110.8 million (or $1.61 per share) on revenues of $1.06 billion.
For the fiscal year just ended, gross margin was 43.5% compared with 38.8% in fiscal 2004.
Adjusted earnings excluded $34.0 million and $33.5 million for severance and restructuring activities announced in December 2002 for the fiscal year just ended and the previous fiscal year, respectively.
Also excluded is the previously announced, one-time $6.0 million pretax charge from the accelerated vesting of options from this fiscal year's adjusted earnings and a one-time $5.9 million net pretax gain from the Hitachi settlement from the prior-year's adjusted earnings.
On a GAAP basis, IR reported net income of $137.5 million (or $1.91 per share) for fiscal 2005 compared with a net income of $89.8 million (or $1.31 per share) for fiscal 2004.
The company generated $79 million of cash from operations in the fourth quarter and $221 million for fiscal 2005, ending the year with $941 million in cash and cash investments.
CEO Alex Lidow said: "We have positioned the company to capitalise on the fastest-growing, high performance, power management applications with our proprietary product strategy".
"This has involved developing value-added products, such as high performance analogue ICs, as well as taking advantage of cross-selling opportunities for our other product families".
"Our focus on these applications and products has driven our revenues, gross margins, and design wins to record levels this past fiscal year".
Products targeting these high growth areas are now reported under the category of "Focus Products".
The grouping also includes IR's royalty and licensing revenues.
This category represented $858 million dollars in revenue in fiscal 2005, up 18% over the prior year.
Gross margin for Focus Products expanded to 50.6% for the fiscal year, an increase of 410 basis points and exited the year at 51.1%.
• 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
