Siliconix Reports 37% Increase in Sales and 64% Increase in Earnings for Second Quarter 2004
Aug 04, 2004
Siliconix incorporated an 80.4% subsidiary of Vishay Intertechnology, Inc. announced net income of $15.2 million, or $0.51 per share, for the second quarter ended July 3, 2004.
This is an increase of 64% over the net income of $9.3 million, or $0.31 per share, in the second quarter of 2003 and 9% over the net income of $14.0 million, or $0.47 per share, in the first quarter of 2004. Sales for the second quarter of 2004 were $120.7 million, 37% more than the sales of $88.2 million for the second quarter of 2003 and a 2% increase over the sales of $118.4 million for the first quarter of this year.
Dr. King Owyang, Siliconix President and CEO, said, "Bookings remained very strong in the second quarter of 2004, with a book-to-bill ratio of 1.18, compared to 1.25 for the previous quarter. At the end of the quarter, our backlog was 16% higher than at the end of the first quarter. The broad-based demand that we noted last February and May, encompassing all of our major markets and all geographic areas, has continued. We did observe, however, a decline in bookings in June and July. It appears to us that this is a result of inventory correction and seasonal market forces, and it does not signal the end of the recovery that began in the third quarter of last year."