IXYS shares jumped almost 7% intraday, touching their highest level since April 2001, after the company reported Friday a fiscal Q4 adjusted earnings of $0.33 per diluted share compared with income of $0.26 per share a year ago. Analysts polled by Capital IQ were expecting earnings of $0.16 per share.
Total revenue rose to $83.4 million from $79.8 million a year ago, the company said in a statement. The Street view was $81.7 million. “Much will be dependent on global market growth and the resumption of customer buying trends,” Nathan Zommer, the founder of IXYS, said while stating the company’s outlook for the year. “We expect revenues in the June 2017 quarter to increase 2-3% from the March 2017 quarter.”
In fiscal Q4, the company said it purchased 96,200 shares for $1.2 million under a buyback program. It still has about 736,000 shares authorized for purchase under the program.
