Diodes Incorporated reported unaudited consolidated financial results for the first quarter ended March 31, 2013. For the quarter, revenue was $177.0 million, an increase of 8.4% over the $163.3 million in the fourth quarter 2012, and an increase of 22.3% from the $144.7 million in the first quarter 2012. Revenue was up sequentially primarily due to one month of revenue contribution from BCD, as well as, the result of the company's continued design win momentum. GAAP net loss was $1.9 million, or $0.04 per share, which compared to fourth quarter 2012 GAAP net income of $4.1 million, or $0.09 per diluted share, and first quarter 2012 GAAP net income of $4.9 million, or $0.10 per diluted share. Non-GAAP adjusted net income was $7.5 million, or $0.16 per diluted share, which excluded, net of tax, $2.5 million of items related to the BCD acquisition, $1.5 million of non-cash acquisition-related intangible asset amortization costs, and $5.4 million due to the China tax audit adjustment. This compared to non-GAAP adjusted net income of $6.2 million, or $0.13 per diluted share, in the fourth quarter 2012 and $4.1 million, or $0.09 per diluted share, in the first quarter 2012. EBITDA was $23.1 million, compared to $24.1 million for the fourth quarter 2012 and $21.2 million for the first quarter 2012. Income from operations was $3.8 million against $5.5 million for the same period a year ago. Income before income taxes and non controlling interest was $4.3 million against $6.2 million for the same period a year ago. The company achieved $31.3 million cash flow from operations, $43.1 million net cash flow, including $20.2 million of BCD cash at quarter end, and $15.4 million of free cash flow. Capital expenditures were $13.2 million, which included $5.6 million related to the expansion of Shanghai Sales and Design Center. Excluding this amount, capital expenditures were 4.3% of revenue compared to 5.6% in the fourth quarter. For the second quarter 2013, the company expects continued growth with revenue increasing to between $206 million and $218 million, or up 16% to 23% sequentially, including the first full quarter of revenue from BCD. GAAP gross profit margin, which will include approximately $4.0 million relating to an inventory valuation adjustment pertaining to the inventory acquired as part of the BCD purchase, is expected to be 27.0%, plus or minus 2%. Non-GAAP gross profit margin, excluding the inventory valuation adjustment, is expected to be 29.0%, plus or minus 2%. The company expects tax rate of 14% to 20%. GAAP operating expenses are expected to be 23.6% of revenue, plus or minus 1%. Non-GAAP operating expenses, excluding amortization of intangible expenses, restructuring expenses, and BCD retention bonus accruals are expected to be 21.3% of revenue plus or minus 1%. The company expects capital expenditures to range between 5% and 9% of revenue for 2013. In early second quarter 2013, the company announced a restructuring of U.K. development team and the closure of New York sales office. The company expects that these actions will be completed in second quarter. Restructuring costs included in the second quarter 2013 are expected to be approximately $1.7 million and will provide savings going forward of approximately $3 million per year.

Diodes Incorporated introduced the 15A-rated SBR15U50SP5 Super Barrier Rectifier (SBR(R)) to meet the needs of next-generation smartphone and tablet chargers. Characterized by low forward voltage and low reverse leakage, this miniature SBR has been designed to tolerate the higher current pulses and operating temperatures of low-profile, discontinuous mode flyback charger designs. Presenting a forward voltage of just 0.35 V for a current of 10A at an ambient temperature of +90 C, the SBR15U50SP5 ensures conduction losses are minimized, thereby increasing charger efficiency. Its low reverse leakage at higher temperatures means that blocking mode losses are also reduced, removing the risk of thermal runaway and raising reliability. The SBR's electrical performance, combined with the low thermal resistance of the compact PowerDI(R) -5 package, means that heat transfer is optimized, enabling much smaller, thinner charger designs to be achieved. Diodes' proprietary PowerDI-5 package occupies a maximum footprint of only 4.05mm x 6.60mm and has an off-board profile of just 1.15mm.

Diodes Incorporated introduced a new family of current-limited power switches offering high current handling in an ultra-small (2mm x 2mm) package. The new power switches enable power density to be increased in the protection of multiple USB3.0 ports used in applications such as set-top boxes, LED TVs and notebook computers. The six new single-channel devices introduced have an on-resistance of only 70m, cover maximum continuous output currents up to 2.5A and are being made available in the miniature footprint U-DFN2020-6 package. For any applications subject to heavy capacitive loads and a possibility of short circuit, the switches provide a robust port protection solution, comprising reverse-current blocking, over-current, over-temperature, under-voltage lockout and short-circuit protection. All devices also integrate an output discharge function to ensure controlled discharging of the output capacitor. In addition, the switches' fast short-circuit response time of 2us prevents any unnecessary system shutdown or restart. With an input voltage range of 2.7V to 5.5V, all devices are suited for 3.3V and 5V rail systems in a variety of product designs including set-top boxes, LED TVs and notebooks. Supporting a maximum continuous output current of 2.5A, the AP2501 and AP2511 are, respectively, active-low and active-high enabled and are footprint-compatible with the AP2301 and AP2311 devices handling a 2A continuous output current. The AP2401 and AP2411 are also 2A rated power switches but provide in addition an output latch-off function that responds to an over current excursion, enabling further optimization of fault behaviour management. All six power switches also feature an open-drain, over-current fault flag with a 7ms deglitch time to prevent false reporting.