DIOD - Earnings call transcript Q1 2018

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Operator

Good afternoon, and welcome to Diodes Incorporated First Quarter 2018 Financial Results Conference Call. At this time, all participants are in a listen-only mode. At the conclusion of today’s conference call instructions will be given for the question-and-answer session. [Operator Instructions] As a reminder, this conference call is being recorded today, Tuesday May 8, 2018. I'd now like to turn the call over to Leanne Sievers of Shelton Group Investor Relations. ahead. go please Leanne,

Leanne Sievers

welcome I'm first Shelton Leanne firm. Investor and results Group, XXXX conference Relations call. Sievers, to afternoon quarter Diodes' financial Diodes' Good President of

Lu; Diodes' of President Sales Relations, and and CEO, Joining Laura White; Yang; Worldwide President Emily of today Officer, Rick are Dr. us Keh-Shew Director Chief Marketing, Mehrl. Financial Vice and Investor

to results company's Before the review they remind our to I would I like as closing its turn the finalizing public by preliminary that company's call firm. announced the procedures over are quarterly are to subject independent Dr. Lu, customary accounting today listeners and registered the

As such, files first company for these the its are results quarter XXXX. revision until Form XX-Q to its subject

Litigation XXXX. Securities a risks statements In Act of make claims contained therefore, management Harbor of addition, forward-looking management's XX-K Exchange detailed refer response with remarks in the forward-looking Safe Commission, you Securities for prepared in company's Therefore that to uncertainties statements additional protection the may and today, XX-Q. discussed may contain including the forward-looking filings statements, the your subject Actual and discussion to the is Reform and questions. differ and the company the of are in more and to those and uncertainties we Private from risks Forms results which

to estimates In change. conditions addition, obligation any projections future today, these of as management's X, or future to May Diodes may the represent projections not as no update as in performance may XXXX. assumes company's market the

terms. call, certain company's in reconciliations this discussions and are net items, stockholders company's refer details. which company's GAAP call we as press common during during measures GAAP GAAP press to income. conference Included will this provide the additional of and financial income press net to the of release management to attributable statements release and release throughout Also non-GAAP the and Additionally, in definitions information conference and non-GAAP statements include management

days Investor listen Dr. turn Diodes' recording site to at Lu. section via the in to this CEO, President the go Keh-Shew unable Lu, you of XX will the Diodes' at time, ahead. please now, over call to Dr. call a of available Relations I be for will those For and And entire www.diodes.com. Web webcast

Keh-Shew Lu

thank Thank Welcome, us for joining you, Leanne. everyone, and you today.

First was and quarter automotive industrial the the at by growth record of revenue reaching primarily in by in revenue complemented driven consumer, high-end Europe markets, levels. strong the guidance,

and growing a profit by increasing the growing year-over-year, content reaching pipeline same twice non-GAAP X% implementing content continue we expanded from of In as in growth also reflecting reached our contributing almost period. of in of XX% Since the we XX% design a dollars applications. across customer base, benefit the X.Xx the to was compound fact, revenue gross highlighted strategy expansion to efforts. increase in share automotive our rate and the annual quarter over time of our this rate earnings per customer business, successful automotive quarter our The achieved wins, XXXX, end-market and multiple revenue our in record, growth have

our of than The revenue Additionally, cash a first profit XX% revenue. in the in of and EBITDA at XX% rate or model business coming flow our a expense million reached the positions operating increasing to target and to revenue. operating in quarters, quarter deliver of Diodes faster $XX.X a increase as record model approach leverage continues

call financial over detail. discuss in to we to the second result end anticipate our momentum records now markets, strength expect more our that, for extend both me With quarter to first guidance second the of new which and in quarter, with our revenue we to and let Looking gross and quarterly continued the geographies will results target across profit. growth achievement the our quarter Rick turn

Rick White

increase The $XX.X Gross increased good profit of in quarter increased for non-GAAP intangible in products expenses revenue well non-GAAP XXXX in margin expenses $XXX.X of and and or related Revenue was first the due the quarter markets. million million with asset million million, XXXX increase credit million $XX.X was a Pericom primarily from point of fourth for operating in GAAP million of million quarter the achieving revenue the XX.X% first to first improved million and quarter quarter and a expenses of $X.X to on contribution Lu, gross end in million the or XXXX revenue $XX.X expenses KFAB quarter in XXX first the an million to to GAAP or acquisition-related $XX.X from the as industrial in first $XX.X revenue of XXXX $XX.X and of mix, or quarter basis, excludes or of were basis. capacity XXXX. a an $X.X Europe operating on or $XX.X or or mainly of year-over-year in were XX.X% $XXX.X XX.X% XX.X% record non-GAAP quarter XX.X% the revenue XXXX fourth or operating quarter related This utilization. the million and Revenue compared restructuring. $XX.X for product XX.X% $XXX,XXX revenue first X.X% afternoon, XX.X% of XX.X% Dr. of amortization officer of GAAP expenses, revenue a the as fourth million automotive in XX.X% XXXX, XX% $XX.X revenue, from record compares the revenue retirement which favorable of was million expenses revenue of and and to quarter increase Thanks, of XXXX of due $XXX.X and the everyone. million profit XXXX. basis strength the to

$XX.X business for an in revenue. These selling, which specifically approximately revenue. million general of of before in $XX XXXX of the compared Combined, for was losses XXXX. excluding to compares $XX.X of This $XX.X $X.X it of quarter were fourth revenue the for first million $XX.X a million partially fourth million revenue SG&A million XXXX the to quarter reimbursement $X a $XX.X of currency of or or and $X.X retirement $XXX,XXX or quarter approximately to Total or XX.X%. or $X.X was On development revenue of and approximately other or in to quarter quarter, by XXXX and million million basis, or year's X.X% XX.X% million R&D included at revenue for insurance to quarter amounted due last in quarter of the quarter non-GAAP million in expense. offset $XX.X expenses the XX.X% revenue first was $X foreign to $XX.X the first million revenue in expenses, X.X% first million XXXX. revenue. in the Looking XX.X% expenses million of approximately XXXX. compared non-controlling On XX% Income quarter $XX.X of first the KFAB in the of administrative officer for and $XX.X million, first other revenue fourth quarter, or plus quarter the of in million interest first approximately including the shutdown. for XXXX SG&A a compares or or XX.X% fourth to million X.X% This was was $XX.X XX.X% Investment first a quarter research basis, the loss, quarter and XXXX. million of interruption and income non-GAAP interest $XX.X XXXX XX.X% $XX.X first million and taxes quarter the in million the or SG&A amounted the

taxes. income to Turning

XXXX for act. first to a of of rate XXXX, income diluted diluted for GAAP of The million tax included in first $X.XX $X.XX or XXXX million fourth the quarter first net shares. approximately XX.X quarter loss the income income XXXX per and share tax effective Our net XXXX the in the share or $X.XX share quarter count used first XX.X%. quarter $X.X EPS or compared was per impact $XX.X diluted GAAP compute $XX.X share which was million the the of GAAP for million quarter to the was per net reform

related This $XX.X million $X net share, million the adjusted $X.XX quarter $X First or fourth million income $X.X or net diluted $X.XX XXXX. and of quarter acquisition first compares $XX.X excluded or and asset costs of was per noncash income intangible of officer non-GAAP tax in million non-GAAP of XXXX which $X.XX share diluted million in quarter net XXXX retirement per expenses. adjusted the per to diluted share amortization

Included non-GAAP XXXX, noncash our was in in income, non-GAAP earnings release income tax included quarter the a adjusted have of net details. additional net We provides of first income income share-based net $X which expense. net approximately million of and GAAP compensation net GAAP reconciliation adjusted to

approximately million, capital income first of diluted down negative $XX.X per was fourth of including the $XX.X non-GAAP adjusted the have of amortization, $X.XX was XXXX. Free $XX.X which flow cash $X.XX expense, first expense, in quarter in of and Net quarter EBITDA, $XX additional XXXX XXXX in XXXX. record compensation million operations in cash in included of $XX.X million the and to tax, generated the flow $XX.X $XX interest would of quarter XXXX. or pay flow expenditures. million the long-term share-based $X.XX revenue first or depreciation net share was quarter million which earnings revenue an GAAP both Cash Excluding first from increased revenue million for quarter million first fourth diluted and XXXX for of was XX.X% quarter the debt. compared million or first in EPS of the quarter and XX.X% represents quarter, a $XX.X the XX.X% a before XXXX, by EPS the diluted

million $X cash reflects to short-term increase fourth goods million. approximately and The the by to finished the end in was a million million. At a the Capital place the of $XX.X first This in in in and last was support $XXX.X a million capital a XX approximately Turning quarter days finished XXX from quarter, quarter cash accounts current million AR quarter. portion, The basis in plus debt, approximately expectations XXX in was investments CapEx and a in the the the including for first Inventory quarter, to XXXX. quarter inventory million $XXX.X increased second revenue. XX second last $XX.X for million quarter on process quarter, expected in was $XX increase decrease growth increase million, the days in the capacity approximately quarter. to with second continued expenditures from raw inventory goods, of quarter. strong compared Working quarter revenue were our the half or $X.X XX.X% $XXX.X of materials. receivable At and million. end were the the put $XXX.X totaled of to inventory were end in sheet. second approximately of cash $XX work-in the the model At a XXXX long-term first XXXX. of to million half compared growth balance in days increase increase above is $XXX.X fourth the equivalents

We was the first Depreciation to CapEx target the X% model and expense of amortization expect for million. to X% for return to XXXX our full-year of revenue. quarter $XX.X

Now turning to our outlook.

second to XX.X% sequentially. continued with million increasing quarter a growth $XXX the strong or and expect $XXX of revenue XXXX, X.X% For range million, we to up

be are of We GAAP intangible X%. approximately minus expected to acquisition margin operating XX% adjusted assets, for or X%. operating XX.X% plus Non-GAAP expect GAAP are plus be or amortization expenses, minus of expenses which to revenue, gross related

to We $X.X million. expect be approximately interest expense

diluted and rate are over Emily million. to approximately turn Our calculate second said, is now expected shares $XX.X plus income minus X%, With be used for to Yang. quarter to will I anticipated tax XX% or be call that EPS to the the

Emily Yang

good Rick, Thank and afternoon. you,

up POS sequentially Lu As and Rick X.X% with was year-over-year. high flat QX remained Europe strong was America and Dr. record XX.X% results. down up POS distributor discussed, quarter X.X%. and and POP revenue North first was

New to on due Asia Chinese Channel holiday sequentially. shutdown down POS our customers. X.X% the Year inventory is impact increased of

regions, As evidenced design strong by solid activity with customer our results, design seasonal wins. remained above and across activity

revenue set product deeper ASIC, key opportunities continue footprint, product protection Pericom quarter, and across expanded lines. category the devices with customer an penetrate base connector significant sales integrity. including We our cross-selling record product line first with in and the signal interface, X We to

and CMOS continued also MOSFET to by switches, driven see momentum We in on recent design battery wins strong the products. LDOs, new management, EPMS,

design portfolio, will introductions win Going our product and product expanded momentum forward, revenue continued we expect growth. support new

in the global the sales at first Looking quarter.

XX% Europe, America, represented revenue; the XX%; and North of X%. Asia

of XX% XX%; our XX%; of XX%; consumer terms X% communications, and In end represented automotive, industrial, market, of revenue. the the revenue; computing,

year-over-year. As record was Dr. our Lu the XX% market a a in mentioned, quarter, automotive highlight growing quarterly and setting revenue

market, auto where opportunities performance, end-market commentary start expanded strong want its I the my area past has years been Diodes also focus for with a several we are which growth. key and for Given area seeing to a for

the Diodes with There hybrid and including as penetration in conventional, system. significant our Comfort, driving, application worldwide. During three winning is as and motor Infotainment automotive covering vehicles. design quarter, momentum style lighting are ADAS, traction, gaining of which customers consists continue we Powertrain, key DC by connected control, Telematics brushless areas where well safety, including and electric

driving ReDrivers the currently led only available as PCI the where offers market. connected timing in and are chargers, offering in Diodes application, signal area a USB of Specifically, some well by parts AECQ-Qualified the an as switches Diodes' switches,

large segment, well functions driving, daylight as specifically with numerous mainly the customers of So high- comfort, of as steerable further for range style with motor with of shipments, lighting headlight Powertrain for represents vehicles such to powered This as covering LED the style such lights, boost, target from and conventional and meter Diodes' Diodes close MOSFET products latest a designs Diodes' Also segment has In combustion hybrid the portion technology. rear applications as design safety, low those growth. revenues and Powertrain, the cluster, seat opportunity auto like and as well drivers well steering. engagements brushless safety, and running linear had supplies drivers, meet beam as we've DC strong needs internal and styling, Inc adjustments, vehicles. as windshield power in as and electric strong water engine fuel into Vehicle success instrument pumps comfort, bipolar transistors Buck, wiping, in and LED

secured have the design market. management of we battery fact, and for the multiple In to the meet electric wins opportunities need system vehicle fast-growing

towards which our past expansion the address significant of goal result we vehicle, automotive over driving to that of revenue over will of contents years, per semiconductor a contribute long-term now X the our of upside initiative, $XX we estimated XX% As revenue. can

has both lighting year-over-year. expanding and LED market, Turning offline Triac-Dimmable secure which as also switches contributed continue growth product Diodes next to such products our growth our to for LDO, ins to industrial also LED sequentially packet continued and design samples. well as from as

product products connectivity packet machines. for such family Our remain applications revenue from primary interest are -- and the driver the switch as our industrial and PCI virtual system, increased security mining gaining currency

rating recently Also increasing are devices new MOSFET new drivers portfolio motor up products, aimed and popular ranging gate gate volt volts, XXV industrial to motor our XXX volts last industrial from driving, for amps. year Additionally, the and XXX recently DC to Diodes X,XXX complementing at applications,. with driver two IGBT currents handling launched in launched volts with five XX and and additional our

quick-charging, like consumer for devices and at gaming, year-over-year smart sequentially speakers. strong devices, audio to increased continued with which , IoT a looking wireless for area both smart Now growing be chargers, new applications market, momentum handheld USB portable us, and

to for routing that as with XX USB way, as provides the Type to speeds up a power X small C integrated are Type strong over data applications cameras well bar connectivity switch with computing for course, continued for and very such This In suitable also such cross of per the and low C We tablets as and display our IT applications a is, USB gigabits same in C in USB product package. USB our X.X, as Type enables regular for Type notebook. as controller C video gain Mux traction the Gen applications single-chip LED video. second,

and and PVS, family telecom the also multiple see FBR, MOSFET In sensors, continue activity power, market, are in expand footprint small-sized, from acquired crystal to that design including to products routers, wireless connectivity applications, designed high-performance, continued low product hall we USB in communications our with oscillator boxes, LDOs, strong smartphones, gateways, our crystal set-top We with chargers. switches, switches, devices timing, our and Pericom.

our with Lastly center and to ins design GenX, compact generators surfer products, GenX, data storage secured X, with [indiscernible] in increased and and continue in jitter products. no of the interface integrity, LDO applications, several gain low portfolio computing We've for -- oscillators, Pericom application. soft lodging, PCIe we expanded crystal opportunities our new

MOSFET we In notebook volt to for also Trench we several switch XX-volt Thunderbolt for markets. Diodes growth continue supply. as are the to Schottky X.X and new launched automotive XX PVS Additionally, XXX rectifiers summary, industrial power the achieve, delivery X bidirectional products including power particular, pleased computing for in and applications, with low USB well momentum we for X.X, USB and applications. launched products as in USB a

expansion in share We sales resulted product deeper the have have made market with that excellent footprint. our increased content and and progress initiatives

positioned in And that, market from to to continue well I’m strength Gerra second in Instructions] continued global will Operator? you. quarter. on expect the question are Thank to our [Operator capitalize come We opening with first floor the our and strong questions. the growth the With Tristan Baird.

open. is line Your

Tristan Gerra

X-inch afternoon. on line is Hi. QX, to gross QX margin, midpoint should What help Question ramp the and guidance the top margin is And gross in that the margin the to typically presumably as also the the this something at sequentially given strength slightly your Good possibly is which capacity? for be gross increases of related of quarter-on-quarter? down reason well.

Keh-Shew Lu

are reason. -- of right, one It's You that's the Tristan.

the by significant reason first in focus evidenced XXXX, is quarter. X% second other growth quarter, the we growth The guidance over

the already think to this be XQ, of company is adding of because in So, the the will increase therefore you capacity, number by growth the -- are we’ve -- can to that, capacity and And at impressed. we year. look CapEx I see support it

negative GP plus GP gross from depreciation depreciation CapEx audit You increased, way. look XQ were But will midpoint, at profit, little expansion, be focused but those due if in therefore, $X the dollar, so PV. treated million. million assembly be the $X at bit the but you we to capacity the actually might gross capacity, up look of down right, percentage went profit guidance depreciation to -- -- actually -- XQ, at is are actually interviews a [ph] and line the you X-inch will the And correct, that under under capacity by from so but above the the

Tristan Gerra

Great. useful. very That’s

on a should ramp? on when gave of then gross And just that you margin rebound to you expect us X-inch the basis background update could quick we also the give Next, us? capacity

Keh-Shew Lu

Okay.

is we XQ. focus of end think X-inch the ramping wafer to XX,XXX said, the month think about to I by per -- I already X,XXX up

now, at only it up a And QX, XQ XQ So, probably Then, then is and spent [indiscernible], have already at look will to wafer X,XXX, equipment per we XQ, XX,XXX is right X,XXX, -- per XXX wafer probably at CapEx end already inch think piece of month. that installed. to somewhere capacity XQ to then us month, up go capacity is gear, ramp the month. I X,XXX X,XXX the total already probably only. max, gradually then X,XXX in give around -- to X,XXX we we And wafer probably of XX,XXX another now,

Tristan Gerra

you. Great. Thank

Operator

Thank Harrison Shawn from with Longbow comes Research. you. next And question our

is open. Your line

Shawn Harrison

everyone. Hi,

Keh-Shew Lu

Hi, Shawn.

Shawn Harrison

on will to or do you results. by believe consumed inventory the about they expect second I or will you need Congrats do to inventory, quarter sequentially, channel The inventory, continue the will increase during be X% channel build in that build channel guess? of you distribution

Keh-Shew Lu

whole New and shutdown, POS be New the of very of Asia end per is them quarter, to expect week, typically our actually consume -- Year. consumed wafer is will the POS reason during customer reduced. is the it of okay? always the Most most No, okay? our so at we the sure. the Year Chinese in is some, already look And Chinese high. XQ consume, already due And is the for month But We will won't we

Europe, POS So if high. is U.S. we and look at actually record the

start the problem not build of the and Chinese But Year, won't I due the there they’re up whole the actually is So problem, and they Year shutdown a design using the in was whole Asia New right ramp. -- they in -- product. to Chinese New is already say the need you inventory customer Asia, to

It's really and the and the February, So much quite already that then well we is the role too. is POS to is quite is XQ the report start POS move in April March move. well,

Shawn Harrison

are pricing And when to you quarter? to, And you see there the be a of a environment the as do will seeing then net kind you in Could September Rick, be follow-up are now pricing are Okay. you a or ability cash follow-up flattish having position? higher? as you by separate year-over-year, goes any where think you slightly

Keh-Shew Lu

Okay.

the and [ph] answer from and or Rick very me pricing, X%. capacity quarter put price. mix. typically a want we typically the the our time do motto. But -- difficult, time, product we answer go to And say, but and customers hard cash that's we very X% is the to now Let the to then is than balance-ish. less declaration I pricing, tried The it's to good raise from We

But typically So you than raise typically one the to cost that's give we because and the product of performance, that, the you product go improved -- way price driving it. to instead customers through say, the of motto. not key old margin. the the GP can and the by do reduction, want price we just to business, our is therefore better replace reduction Rick? to now product down reduction product of new are a year doing less slow is each And our new in that's because the price, new [indiscernible] new our traditional product that's now, and

Rick White

issue So $XXX debt of million. had outstanding the million, $XXX the million and we’ve so is is we difference here that about of cash $XX

this to should get be by year, net doing Chengdu would to to be I’m going we’re the facility do whether question not end us able us would to time are we pushing, at like pay He that. for by next Dr. is be from by into a the equity make preclude injections the to do we’ve to $XX -- sure. But Lu that our year that. down there because to we and going of is million end to the sure that so of say position. So just some the time might able I that but

Shawn Harrison

Chengdu, could elaborate say you a you equity injections I’m bit? When sorry. into

Rick White

we’ve the ago. Yes, It so equity years we original in five standpoint. an one Chinese that things to money will commitment much agreed was back government, we a the invest from of to

Keh-Shew Lu

ago. -- Five us by is kind The and is thing they us we some both each keep of they them, so key money years we money And the for [indiscernible] how we year, back, expansion. give above much but we’ve commitment buy okay? will put in

Rick White

Yes.

do it has So to with expansion.

So this as capacity the fund and continuing we’ve expand we’re to previously, talked in slowly capacity expansion. about that helps Chengdu,

Shawn Harrison

Okay, perfect. Thank you.

Rick White

Okay.

Operator

Thank you. Sidoti. [Operator Our Roesch will next Instructions] question from Edgar come with

open. line is Your

Edgar Roesch

Congrats. Yes, hi. Nice quarter.

Keh-Shew Lu

Thank you, Edgar.

Edgar Roesch

capacity products I quarter? that CapEx, the on additions wanted any in or maybe that? demand had on in going of stay follow-up I would ahead of you the on think would thoughts second the with to you you can Do are XXXX. in pacing -- with you I the are allocation mean, get making sort have one expect any you you

Keh-Shew Lu

I to will say quite because for that capacity last have and still -- CapEx. the this we that XQ, put hate and to the putting market's do and But -- allocation, we’ve QX. enough it and the for Well, foresee product and we So the the it, will in the year, the part day [ph] is continue expansion, to situation, see type currently and installed since okay? we’re we tight the then request just on of -- still but And in some start to by going ramp we of coming that's support certain package. we’re year, started just but

Edgar Roesch

Okay.

Rick White

million on that’s higher to back for a about mentioned and you did had Ed, first our it's we capacity than as I to speech, the at will we during also that, say my the model basis I front on the we of look worth the to go a in yearly load CapEx think quarter X% $XX.X cash will that if X% And basis. model. year, this expansion. we’ve

to question, more your going be it's it to So front-loaded than answer back-loaded. is

Keh-Shew Lu

is our our still to expenditure so keep model, our -- model X% Yes, X%. at we which CapEx to want

because quarters, the in to in to is put third support okay? we’re So our year. Now, more the XX%. It CapEx XQ, by typically quarter late is quarter front-loaded this [indiscernible] than fourth first and in -- and too second

Rick White

That’s right.

Edgar Roesch

Okay. Thank then it in packaging finding as for you just broader wins big you’ve of Are differentiator in on Diodes? And you much the that automotive a is kind success that much the side. end-market your side, the level, has had historically as for and on to packaging that. a of product so leads as

Keh-Shew Lu

is discussed, XX% are of key the years. strategy our we’ve automotive. Well, last in the mix installed we’re in yes packaging CAGR since technology I XXXX, one we now to And the -- five that back for at

it working product, are is strategies from our our from doing, been view, [indiscernible] -- and So the from packaging, the we’ve successful. -- since

continue going next better think as X% to probably grow And target the effort automotive. move we’re going and in year. DC, then ourselves continue X% quickly I XX% similar than to in and we’re are to we achieve at So to

Emily Yang

important. little continue also This customer packaging, a technology we bit is to direction features find and applications. to with solution a I working very Yes, so just to beyond add very, think really in are and closely also the performance perfect the invest for that the their

Edgar Roesch

Okay. that Thank one did guidance, you’re a purchase or you. trigger that was adjustment? particular know, for the Thank fairly one. the in accounting Is typical acquisitions. and I notes, adjustment adjustment you. through my including I don't quick is something And Rick, that Pericom then other but looking QX

Rick White

we’ve No. quarters. That’s adjustment many an for every quarter made

Edgar Roesch

Okay. All Thank you. right.

Rick White

Yes.

Operator

And you. we’ve Gerra Thank Baird. a follow-up question from Tristan with

open. is line Your

Tristan Gerra

product range give lead and us times has ago? percentage exceeding how that portfolio the the with Could are a and weeks, also compare again. your lead of stretching, how that Hi, mention does you XX quarter far times of

Keh-Shew Lu

DTAM actually, the on Well, -- based product. really product really the

product other crystal the telecom and For than example, of most …

Emily Yang

Oscillators.

Keh-Shew Lu

start product most telecom is wafer less of the Diodes from wafer typically oscillators, the from The because And Diodes and Diodes product layers. XX-something with fab coming than foundry and product DTAM telecom fab. packaging of the product very are from [indiscernible] … telecom MOSFET probably [indiscernible] product. number low Mux [indiscernible] compared is

and on significant coming Diodes DTAM we wafer outside, and and telecom DTAM except different, has the wafer majority none little not because the between fab done product. bit. the internally, a the Packaging But do So significant it DTAM from makes is are are can therefore, we different product all there difference. the discrete foundry much of the really they shorten the

Emily Yang

Right.

time think really do I situation is very constrained, general see overall still of from change and significant in our So supply not lead we a point view.

Tristan Gerra

Thank much. Great. very you

Operator

showing to at I’m questions turn time. I'd remarks. now the Keh-Shew Thank this call for closing you. Dr. Lu back further no to And like

Keh-Shew Lu

Operator, Thank call. participation your disconnect. now you on you may for today's

Operator

you. for and conclude you participating This Thank does great a today’s conference. and disconnect. thank have day. may Ladies program, gentlemen, Everyone all in you the

Diodes (DIOD) 11 May 182018 Q1 Earnings call transcript