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| DIODES INCORPORATED AND SUBSIDIARIES | |||||||||||||||||
| CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS | |||||||||||||||||
|
(unaudited) |
|||||||||||||||||
|
(in thousands, except per share data) |
|||||||||||||||||
| Three Months Ended | Twelve Months Ended | ||||||||||||||||
| December 31, | December 31, | ||||||||||||||||
| 2013 | 2012 | 2013 | 2012 | ||||||||||||||
| NET SALES | $ | 210,993 | $ | 163,287 | $ | 826,846 | $ | 633,806 | |||||||||
| COST OF GOODS SOLD | 150,192 | 120,040 | 589,010 | 472,220 | |||||||||||||
| Gross profit | 60,801 | 43,247 | 237,836 | 161,586 | |||||||||||||
| OPERATING EXPENSES | |||||||||||||||||
| Selling, general and administrative | 32,840 | 28,661 | 132,106 | 101,363 | |||||||||||||
| Research and development | 12,466 | 9,295 | 48,302 | 33,761 | |||||||||||||
| Amortization of acquisition related intangible assets | 2,003 | 1,721 | 8,078 | 5,122 | |||||||||||||
| Impairment of goodwill | 5,318 | - | 5,318 | - | |||||||||||||
| Restructuring | - | - | 1,535 | - | |||||||||||||
| Loss (gain) on sale of assets | 169 | - | 216 | (3,556 | ) | ||||||||||||
| Total operating expenses | 52,796 | 39,677 | 195,555 | 136,690 | |||||||||||||
| Income from operations | 8,005 | 3,570 | 42,281 | 24,896 | |||||||||||||
| OTHER INCOME (EXPENSES) | |||||||||||||||||
| Interest income | 295 | 194 | 1,274 | 778 | |||||||||||||
| Interest expense | (1,430 | ) | (307 | ) | (5,580 | ) | (876 | ) | |||||||||
| Gain (loss) on securities carried at fair value | (511 | ) | 3,724 | 601 | 7,100 | ||||||||||||
| Other | (80 | ) | (561 | ) | 9 | (1,091 | ) | ||||||||||
| Total other income (expenses) | (1,726 | ) | 3,050 | (3,696 | ) | 5,911 | |||||||||||
| Income before income taxes and noncontrolling interest | 6,279 | 6,620 | 38,585 | 30,807 | |||||||||||||
| INCOME TAX PROVISION | 2,828 | 2,842 | 14,481 | 4,825 | |||||||||||||
| NET INCOME | 3,451 | 3,778 | 24,104 | 25,982 | |||||||||||||
| Less: NET (INCOME) LOSS attributable to noncontrolling interest | 2,753 | 297 | 2,428 | (1,830 | ) | ||||||||||||
| NET INCOME attributable to common stockholders | $ | 6,204 | $ | 4,075 | $ | 26,532 | $ | 24,152 | |||||||||
| EARNINGS PER SHARE attributable to common stockholders | |||||||||||||||||
| Basic | $ | 0.13 | $ | 0.09 | $ | 0.57 | $ | 0.53 | |||||||||
| Diluted | $ | 0.13 | $ | 0.09 | $ | 0.56 | $ | 0.51 | |||||||||
| Number of shares used in computation | |||||||||||||||||
| Basic | 46,666 | 46,011 | 46,363 | 45,780 | |||||||||||||
| Diluted | 47,909 | 46,900 | 47,658 | 46,899 | |||||||||||||
Note: Throughout this release, we refer to “net income attributable to
common stockholders” as “net income.”
