Diodes Incorporated Reports Second Quarter 2018 Financial Results

Second quarter 2018 GAAP net income was a record $25.1 million, or $0.49 per diluted share, compared to net income of $13.2 million, or $0.26 per diluted share, in second quarter 2017 and net income of $18.5 million, or $0.37 per share, in first quarter 2018.

Second quarter 2018 non-GAAP adjusted net income was a record $29.3 million, or $0.58 per diluted share, which excluded, net of tax, $3.8 million of non-cash acquisition-related intangible asset amortization costs and $0.4 million of restructuring expenses. This compares to non-GAAP adjusted net income of $17.8 million, or $0.36 per diluted share, in the second quarter 2017 and $24.2 million, or $0.48 per diluted share, in the first quarter 2018.

The following is an unaudited summary reconciliation of GAAP net income to non-GAAP adjusted net income and per share data, net of tax (in thousands, except per share data):

        Three Months Ended
June 30, 2018
GAAP net income $ 25,068
 
GAAP diluted income per share $ 0.49
 
Adjustments to reconcile net income to non-GAAP net income:
 
M&A
 
Pericom 2,604
 
Amortization of acquisition-related intangible assets 2,604
 
KFAB 447
 
Restructuring 447
 
Others 1,228
 
Amortization of acquisition-related intangible assets 1,228
 
Non-GAAP net income $ 29,347
 
Non-GAAP diluted earnings per share $ 0.58
 

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