Value Advisors
Long/short equity

Ixys: Bullish Outlook Following Best December Quarter Since 2010 Industry Spike

IXYS (NASDAQ:IXYS) released its 3rd quarter results on Wednesday. The December quarter is seasonally the weakest quarter for IXYS. It is usually a down quarter in revenues and margins due to the December shutdown.

Quarter highlights:

  1. Growth in all market segments
  2. Free Cash Flow $8M (EBITDA $10.5M)
  3. On track to $44M EBITDA for Fiscal 2014 (ending March 2014) - $65M expected for Fiscal 2015;
  4. Market Cap $367M;
  5. Net Cash $88.6M ;

This year December seasonality is masked by the Samsung MCU business acquisition that contributed to revenue. Yet, even when deducting the acquisition effect, growth came across all segments. As always with IXYS, Cash-Flow remained strong with EBITDA coming in at $10.5 million for the quarter (see our ...

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