Research Desk Line-up: Sigma Designs Post Earnings Coverage

LONDON, UK / ACCESSWIRE / June 23, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on IXYS Corp. (NASDAQ: IXYS), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=IXYS, following the Company's announcement of its fourth quarter and fiscal 2017 financial results on June 02, 2017. The international power semiconductor and IC Company provided revenue forecast for the upcoming quarter. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Semiconductor - Specialized industry. Pro-TD has currently selected Sigma Designs, Inc. (NASDAQ: SIGM) for due-diligence and potential coverage as the Company reported on June 06, 2017, its financial results for Q1 FY18 which ended on April 29, 2017. Register for a free membership today, and be among the early birds that get access to our report on Sigma Designs when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on IXYS; also brushing on SIGM. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=IXYS

http://protraderdaily.com/optin/?symbol=SIGM

Earnings Reviewed

IXYS' net revenues for its quarter ended March 31, 2017 were $83.4 million, reflecting an increase of 4.5% compared to $79.8 million in net revenues for Q4 FY16. For the twelve months ended March 31, 2017, IXYS reported net revenues of $322.1 million, an increase of 1.5% compared to net revenues of $317.2 million for the prior fiscal year.

For Q4 FY17, IXYS reported gross profit of $29.2 million, or 35.0% of net revenues, compared to gross profit of $24.1 million, or 30.2% of net revenues, for the year ago period. The Company's gross profit for the twelve months ended March 31, 2017, was $105.6 million, or 32.8% of net revenues, compared to the gross profit of $99.8 million, or 31.4% of net revenues, for the prior fiscal year.

"Efforts to increase gross margins are bearing fruit as evidenced by three consecutive quarters of growth in margins. Higher net revenues reflect strengthening demand for our products. In particular, our power product sales have been boosted by demand in the industrial market. Our backlog looks healthy for the coming quarters," stated Mr. Uzi Sasson, CEO and CFO of IXYS Corporation.

IXYS' net income for Q4 FY17 was $9.3 million, or $0.28 per diluted share, an increase of $3.1 million, or 50.0% compared to net income of $6.2 million, or $0.19 per diluted share, for the prior year's same quarter. The Company's non-GAAP net income, which excludes the impact of charges for the amortization and impairment of acquired intangible assets and stock compensation was $10.8 million, or $0.33 per diluted share, compared to non-GAAP net income of $8.2 million, or $0.26 per diluted share, for the same period in the prior fiscal year.

IXYS' net income for FY17 was $21.3 million, or $0.66 per diluted share, up 44.8%, compared to net income of $14.7 million, or $0.46 per diluted share, for the prior fiscal year. The Company's non-GAAP net income was $28.3 million, or $0.88 per diluted share, compared to non-GAAP net income of $22.6 million, or $0.70 per diluted share, for the year ago corresponding period.

Cash Matters

IXYS' cash and cash equivalents totaled $167.9 million at March 31, 2017, after generating $9.7 million in cash from operations during the quarter. The Company's adjusted EBITDA was $13.6 million for the reported quarter and $46.9 million for FY17. IXYS' CapEx was approximately $1.9 million for the reported quarter and $8.6 million for the year. The Company used vast majority of capital expenditure for internal manufacturing facilities and subcontractor equipment updates.

In the quarter under review, IXYS purchased 96,200 shares for $1.2 million under its authorized buyback program. IXYS has approximately 736,000 shares authorized for purchase under the program.

IXYS generated about $9.7 million in cash from operations during the quarter. The Company's net accounts receivable at March 31, 2017, were about $41.2 million and DSO for the reported quarter was approximately 44 days. As of March 31, 2017, net inventory was approximately $89.4 million and inventory turns were about 2.4x during the quarter.

Outlook

In regards to outlook, the Company stated that the growth will be dependent on global market growth and the resumption of customers' buying trends. The Company's expects the upcoming quarter revenue to increase in the range of 2% to 3% sequentially.

Stock Performance

At the closing bell, on Thursday, June 22, 2017, IXYS Corp.'s stock ended the trading session flat at $16.25. A total volume of 197.37 thousand shares have exchanged hands, which was higher than the 3-month average volume of 182.07 thousand shares. The Company's stock price skyrocketed 14.44% in the last three months, 35.42% in the past six months, and 53.01% in the previous twelve months. Moreover, the stock soared 36.55% since the start of the year. The stock is trading at a PE ratio of 24.62 and currently has a market cap of $520.16 million.

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