Sales Increase at Diodes Fails to Lift Net Income

Chatsworth-based Diodes Inc. announced lower net income but higher operating earnings and record sales for the fiscal year ended April 30.

The company, which makes and sells power-supply regulators known as rectifiers, reported net income of $982,000, or 46 cents a share, for the year, down from $1.3 million, or 61 cents, the previous year.

Diodes controller A. F. Ottebre said net income was higher last year because of $391,000 in tax benefits available then. Operating earnings were $2 million for the year ended April 30, a 28% increase from the $1.6-million earnings reported the previous year.

Sales, meanwhile, rose 20%, from $10.7 million to $12.9 million.