IR announces adjusted earnings for the September quarter

International Rectifier (IR), in power management technology, announced its adjusted earnings of US$37.8 million for the September quarter on revenue of US$344.2 million. As compared with adjusted earnings of US$33.8 million for the June quarter on revenue of $322.7 million.

On a GAAP basis, net income was US$34.1 million for the September quarter versus US$31.0 million in the June quarter and US$26.2 million for the prior year September quarter.

Alex Lidow, CEO of IR, said, "We saw growth in our Focus Products business, up 8 per cent over the prior quarter, led by a 17 per cent increase in our business segment, computing and communications. This reflects the continued success in our fab capacity to support a number of programs for game stations, servers and dual core notebooks and desktops." He further added, "As a part of our expansion plans, we announced a foundry agreement with Tower Semiconductor for capacity capable of addressing the complete range of our Focus Products. This fiscal year, we are on track to outperform the industry in revenue growth, and at higher levels of profitability."

IR