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IXYS CORPORATION PRESS RELEASE
Contact: Arnold Agbayani
Vice President, Finance & CFO
IXYS Corporation
3540 Bassett Street
Santa Clara, California 95054
(408) 982-0700
IXYS CORPORATION ANNOUNCES CORRECTION TO
CALCULATION OF DILUTED EARNINGS PER SHARE
FOR FIRST QUARTER OF FISCAL YEAR 2001
SANTA CLARA, CALIF. September 28, 2000 -- IXYS Corporation (NASDAQ-SYXI) today
reported that it was amending its quarterly report on Form 10-Q for the quarter
ended June 30, 2000 for the purpose of correcting the calculation of diluted
earnings per share for such quarter. The amendment does not restate or affect
reported revenues or net income for the quarter. The diluted earnings per share
calculation had been incorrectly reported because of a computational error in
calculating the common equivalent shares from stock options and warrants, which
is used to determine diluted earnings per share. As a result of this
correction, the company's diluted earnings per share for the June 30 quarter
will now be reported as $0.28 per share ($0.14 per share after taking into
account the company's two-for-one stock split effected on August 10, 2000),
rather than $0.30 per share as previously reported ($0.15 per share after
taking into account the stock split). The company's diluted shares will now be
reported as 13.204 million shares (26.407 million shares after taking into
account the stock split), rather than 12.193 million shares as previously
reported (24.386 million shares after taking into account the stock split).
Nathan Zommer, President and CEO, said, "Although we certainly regret this
computational error, the error does not have any impact upon net income, any of
the lines above net income in the company's statement of operations or upon the
calculation of basic earnings per share for the fiscal quarter ended June 30,
2000. The fundamentals of our business remain unchanged, and we maintain our
positive outlook for our business."
IXYS designs, develops, manufactures and markets high power, high performance
power semiconductors that improve system efficiency and reliability by
converting electricity at relatively high voltage and current levels into the
finely regulated power required by electronic products. IXYS focuses on the
market for power semiconductors that are capable of processing greater than 500
watts of power. IXYS products are used primarily to control electricity in
power conversion systems for communications infrastructure applications, motor
drives for industrial applications and sophisticated medical electronics
applications.
The statements in this news release, other than historical financial
information, may contain forward-looking statements that involve risks and
uncertainties that could cause actual results to differ from predicted results.
Further information factors that could affect the Company's operations is
detailed and included in the Company's Form 10-K, as filed with the Securities
and Exchange Commission, which includes the IXYS Corporation audited financial
statements as of March 31, 2000 and 1999. The Company undertakes no obligation
to publicly release the results of any revisions to these forward-looking
statements.
Additional information may be obtained by visiting IXYS' website at
http://www.ixys.com, or by contacting the Company directly.
