CNET también está disponible en español.

Ir a español

Don't show this again

Tech Industry

Siliconix jumps on 4Q results

    Siliconix Inc. (Nasdaq: SILI) jumped 31 percent Monday after it announced its fourth quarter results.

    Shares in the company, a subsidiary of Vishay Intertechnology, Inc. (NYSE: VSH) were up 51 1/4 to 215. There was no consensus estimate for the results. The stock has risen dramatically from its 52-week low of 18 1/2. Vishay shares were up 3 9/16 to 40 1/16, or 10 percent, on the news.

    The company, which makes analog semiconductor products, said it will continue to focus on the telecommunication, portable computer and automotive segments of its business. The telecommunications market has grown from 39 percent of its business in 1998 to 58 percent of business in 1999. High demand for products, and decreased expenses were cited as causes for this quarter's record growth.

    Investors didn't need First Call comparisons to tell them fourth quarter results were good, with a 279 percent increase in revenue year-over-year. Net income in the fourth quarter of 1999 was $24.4 million, or $2.45 per share, up 279 percent from the $6.4 million, or 65 cents per share, a year ago. Earnings were up 29 percent from $18.8 million, or $1.89 per share, in the third quarter.

    Net sales in the fourth quarter of 1999 were $110.1 million, up 44 percent over the $76.6 million sales for the last quarter of 1998 and 9 percent more than the $101.3 million result for the third quarter of 1999.

    For the year ended December 31, 1999, net income was $66.1 million, or $6.64 per share, compared to $738,000, or 7 cents a share, for the previous year. The 1998 results include a pre-tax restructuring charge of $19.8 million, or $1.34 per share, incurred subsequent to the acquisition of a majority interest in Siliconix by Vishay in March 1998, the company said.

    The company's gross margin also improved -- it was 45 percent for the fourth quarter, compared to 35 percent for the fourth quarter of 1998. The margin improvement resulted primarily from an improved product mix, increased fab efficiencies and tight spending controls, Siliconix said.

    The company continues to realize benefits from its restructuring plan installed after the Vishay acquisition as well as from further cost reduction programs. Vishay is Siliconix's largest stockholder with an 80.4 percent interest in the company.