- Earnings call transcript Q3 2022

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Operator

Good afternoon, and welcome to Diodes Incorporated Third Quarter 2022 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, Monday, November 7, 2022. I would now like to turn the call over to Leanne Sievers of Shelton Group Investor Relations. ahead. go please Leanne,

Leanne Sievers

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

CEO, Taiwan Whitmire; Yu; Brett Vice and Groups, Relations, Senior President and Investor Chairman, Joining Vice Financial Sales Senior are Gurmeet Worldwide Director Emily today Lu; Chief of from President us Dhaliwal. Gary and Marketing, Dr. of President Keh-Shew Officer, Business Diodes Yang; of

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

revision XXXX its XX-Q until the As quarter results fiscal such, XXXX. these company for Form to are its September subject unaudited XX, ending files and

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

the future by projections conditions required of law. update assumes or to any as addition, the no future Diodes today, the except applicable not as change, may projections In to XXXX. estimates market in to may these company’s X, extent represent performance as November management’s obligation

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

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

Keh-Shew Lu

gross am quarter Welcome, share quarter joining adjusted pleased Leanne. consecutive Thank everyone, today. I our to fifth for of us margin you, record you and the earning. very earnings and seventh reporting today, and thank per consecutive record be of

revenue also record quarter execution power in that result our the automotive the the markets driven the China outage COVID team, totaled for our XX% contributing achievement lockdown industrial greater strong performance of part and together above in for were to by these outstanding as third was success four the of and our percentage Diodes’ well share automotive product time consecutive ongoing XX% represented of the pension above which business XXXX quarters. XX% initiative as of the and is target model product gain revenue, end of related in by and end regions the of context our considering certain of first reflecting especially Our markets. points revenue customer

of margin to [Indiscernible] over earnings that empowerment. and greater operator growth consistently economic per able still over its and share XXX% experienced, back two looking business years, and achievements When Diode and the chain the results, XX%. proved execute the has most gone has have our ability multiple profitability. past XXX the basis points past revenue Gross through expanded increased consistent consecutive increased margin industry Diode diversified to environments adjusted challenging quarters, expanded several one quarter Over supply deliver during of was

the our on our fourth in and let financial guidance to gross quarter financial more quarter to now XXXX XXXX way With our profit. $X results in detail. turn third to and in over that, are me billion of X.X billion We call target revenue Brett our discuss

Brett Whitmire

everyone. Thanks, afternoon, Dr. Lu. good And

income non-GAAP a This was to $X.X and or Income million currency will million a XX.X% at of As of XX.X% of revenue. acquisition second $X.X we’d on the excludes comments from costs. basis my million record review you $XX.X an $XXX.X unrealized XXXX $X.X of the for million of of previous on quarter were the quarter, Gross interest of expense of of line the increase press compares X.X% XX.X% of loss, basis compared comparisons. XXXX and which each XXX.X for Revenue XXXX. revenue, the our XX.X% as X.X% third quarter for expenses, amortization a intangible or related to $X second operating foreign quarter also change $XXX.X X.X a or million, XX quarter $XXX.X the approximately expenses asset in of quarter. was million of a million million million the XXXX. of million to XXX,XXX of the $XXX.X part interest in financial before income. other quarter million, results well and more million profit of representing for for today, related expense sequential acquisition GAAP record in million items $XXX.X focus detailed and revenue and $XXX I third my Total of the and to year-over-year as increasing the refer investments, on million the operating non-GAAP consisting of third from interest and were release review other loss XX.X% amounted the revenue or XXXX revenue, $XXX.X record quarter in or million expenses taxes was million a third X.X prior in for X.X quarter non-controlling points our

income to Turning taxes.

or X.X% was XX.X% quarter net EPS GAAP was XX.X%. from related $X.XX net adjusted net net market used income $XX.X income of XXXX costs, diluted diluted non-cash quarter acquisition income diluted $X.XX share GAAP Our a share the asset third of $XX.X investment per diluted was share, per Non-GAAP diluted or on to investments. of per approximately million for share compute effective million compared quarter per diluted improvement increased from million million third a X.X and in of third and per $XX.X third tax in in sale XXXX. quarter intangible per $X.XX for million which the XXXX. quarter last marked record rate million million or the million costs of related gain million or in in from or X.X $XX.X XX to income GAAP quarter record the tax quarter XX.X% was count of share $XX.X share per for in third diluted year-over-year second to improvement third represents quarter quarter Share acquisition XXXX. a the shares. GAAP $X.XX million the XXXX X.X X.X earnings share a adjustments, This a $X.XX $X excluded

third the $X.XX for based non-cash EPS and the expense tax Excluding non-GAAP third EBITDA $X.X GAAP for diluted for share per a increased compensation have both share of adjusted third third by per earnings million in would of or from over quarter quarter. compared share in was of increased quarter year. net revenue quarter or quarter. of XX.X% million improvements XX% million, $XXX.X EBITDA the XX.X% our million revenue to $XXX.X XXXX the $XXX.X continued prior year-over-year On the record highlighting past basis a

Cash quarter $XX.X a additional We a to details. earnings capital net cash of EBITDA, have was million. flow net operations release, positive which $XXX.X adjusted provides for $XX.X income GAAP Free our cash to net XXXX. included which income third from was million was in flow million, included the GAAP Net reconciliation $XX.X non-GAAP income for expenditures. million flow and generated

$XXX the including to cash, quarter and term term million term million. cash the third Working $XXX totaled $XXX at restricted capital balance sheet Turning and investments debt total million. short equivalents, approximately cash long plus was of short end was

the fab $XX.X X% to $XX.X is assembly in decrease million for the first or on and capacity were a X% last million million expansions. model target terms X.X% in approximately quarter million. due year-to-date to inventory a goods million million in raw third XXX In to as Total days higher $X.X $X.X nine year. test within and inventory inventory an increased approximately of for to compared and work materials still quarter. wafer quarter dollars at our the for the the But in flat basis prior of we of The XXX cash CapEx to $X.X XX process. $XXX inventory of a total which increase last increase quarter. from goods, finished quarter third of consisted be Capital Total full expect to $XXX.X XX, target expenditures in million were revenue. than end approximately days months were our Finished was inventory the model quarter, our

Now turning to our outlook.

minus of we million for is related to to be GAAP of expenses, expect to For XX.X% gross plus approximately or X% expenses, which revenue typical minus be the margin fourth be revenue of quarter amortization plus Non-GAAP $XXX GAAP are operating plus X%. expected XX.X% line minus intangible expected approximately in seasonality. with X%. or operating or adjusted XXXX assets acquisition are

million fourth We anticipated and X.X for included tax non-GAAP over expect calculate be interest to income estimates Not rate shares previous Emily plus X% expense after to that to I Yang. tax acquisitions. be approximately net used in or the approximately to our said, for to turn $X million. will minus million, expected are amortization of XX.X With is the be XX% call is EPS quarter now these

Emily Yang

quarter Thank revenue That’s of you revenue the automotive sequentially third America reflecting in Europe. North the afternoon. good contributed X.X% markets. achievement end industrial to in record and Brett revenue increased also and In our record

and a normal with strong XX slightly and weeks. terms of POS record our is all our range weeks inventory increased remain quarter-over-quarter Overall within backlog defined Additionally, distributor demand regions. in XX across revenue of to

global at the quarter. third in sales Looking

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

our XX% a our XX% consumer market revenue. Diodes’s and In represented of XX%, terms XX%, of markets, revenue, communication of XX% reached industrial end product product end record automotive computing

revenue, industrial XX% X% and for the point and third XX% automotive target above our of combined above total Our end product consecutive is markets XXXX quarter. which

Now, review quarterly detail. which market year-over-year is greater nine XX% quarters. Beginning set sequentially other the XX% record to revenue end in automotive, me and let with consecutive a increased

share market In as as our consists infotainment consistent ongoing Our of telematics which has by growth efforts driving driven ADAS connected systems. gains. creation demand well and been

rear We applications. entertainment USB smart analog our ADAD, applications. in our card and Also cockpit USB winning are see USB and for X.X EP, DisplayPort from switches also C and and continue increased video infotainment type switches seat to drivers signal smart interest the the sizing and

drivers LED power we comfort, style our CMOs drivers LED designs With along systems. demand well. booster diode and converters, converter, and lighting, DC/PC bipolar transistors safety, interior and LDLs, and switches for diodes, and as increasing Diodes exterior LED Our exterior switching strong controllers, electrification experienced controllers secured lighting our and mobility for with DC/DC

our quarter, into were the gateway designed chargers. wireless During for IC

for our automotive power switch voltage MOSFET applications. car While USB chargers were source low load designed and

system, designs were power detection unit, occupancy In bipolar our increasing Zener and as sensors addition, as we amplifiers onboard our vehicles, central systems. for In the for hybrid covers converters, in well control EV designed chargers, the pump, conventional IO operational extenders, system. modules, diodes electric automotive transistors airbags, position a DC/DC secure which battery so into electrification management and power design powertrain wings

enough for TVS protection, controllers, starter fan experienced DC battery strong applications. motor our devices and generators Additionally, EV

products added of other in representing sixth seven grew year-over-year and transmission train saw the we record our growth. as XX% solid protection and market to also quarter portfolio. revenue end a consecutive demand We grade reached and automatic new In approximately sequentially, automotive power industrial X% applications

product that applications designed drivers Our being PCI used XX gigabit X.X were over SBR as an and security civilians HDMI second Ethernet X per multiple power well. is second read adapters Express per X.X, area switches gigabit into for and packet and also which

applications. also solid diodes, distribution applications gate from DC power power air enjoy demand from system, pump conditioner product application. IC, healthy our diode drivers, converters, regulators various storage, an oil supply, saw demand LED like for DC/DC continue to MOSFET power and fan, We families products [Indiscernible] energy Also linear in to Zener Buck drive our TVS E-meter and the

We and and blood storage continue also lighting to system. market was industrial monitoring Servers soft, see Cloud demand continue focus We for market, to In the and applications. specific crumble on computing strong application the SSD glucose PC although multichip circuit

so market mentioned segment quarter, quickly contributor been last consistent I our high slowing our our testament to growth. strong ability team’s and adjust As execution, to from also is market demand has to support a our a

in the secure for to cloud family, wins in our USB single design as continue SSD application, we of wings bus, the well enterprise products. quarter, terms new designs In during switches for shifters SM as

also being diodes Zener cloud computing platforms. customized used in product Our

and customers well-positioned offering, and quarter, including DisplayPort generators, with cloud see and released newly also to a of now our outputs. PCI [Indiscernible] Xand PCI clock clock data Express And computing support during drivers to for X.X the continue crystal, adoption in and buffers. applications. timing remain read able to We our support Also complete embedded PCI mobile we center oscillators, gaming X, Express Express XX

application. such and continue Lastly, mobile to in market, phone current quick drivers for our we gigabit HDMI from adoption switching read of various increase SPR peripherals to continue traction communication digital in drive applications in continue low projectors also desktop products are including gigabits applications. the C centers products our the per X WiFi second being and to power And chargers. and camera Diode diodes per in sign still USB finally Earth applications power and CSP continue limit orbit switches application In our second into the HDMI gain gain and the signal solid and port USB market, as display momentum Zener XX switches see source A uptake XG XG docking stations. both as to consumer

storytelling our amplifier While DC/DC appliance and market home monitor also converters solid devices. have from interactive buck and for audio demand

several LV like continues LED and our slowing earphones We keyboards. current market C and adjust results, seventh design end gaming and our also In consecutive segments. gain of power Diode health, power high quarter ability achievement to our devices applications drivers CSP of and support USB our controllers consoles watches, sport and wearables continue with consistently to prove delivery wireless from record traction power won to switches, limit from demand USB and summary, to quickly market execute portable smart our in speakers and MOSFET for

to has success expansion revenue the automotive mix, our both which Additionally, customer contribution contributed gross the open future and $X as that in floor industrial our and well-positioned greatly now our of we’re our of margin billion billion targets the growth believe well XXXX to as revenue, profit. content We continue Operator? to market ongoing expansion With a improvement. in gains driving consistent we initiatives towards and share X.X in questions. also has increased

Operator

question go Please will session. from We [Operator Instructions] will our now of and question Matt And begin Ramsay answer the come Cowen. first ahead.

Matt Ramsay

And channel? a congrats we’ve don’t little weaker the about Thanks industrial ask side. the I us in your to and consumer good what results what your industrial softening, help end particular, for next you indicate the in industrial I Thank that seeing season your in into on feel understand and but you about signs in just that peers quarters from and to earnings awesome taking my Can visibility you’re seeing results. market how couple of question. the you’re seen you. seem and come bit markets. on computing some wanted has there mean, all through this are

Brett Whitmire

overall. still overall a you view, point not strong. we of little that For and and overall. do here pretty in But or the backlog backlog devices the significant everything bit still good lot of adjusting a specific see the industrial We if specific take have picture a And seeing applications it’s place forecasts strength some seems still from overall, there. that definitely change we, visibility

Matt Ramsay

written a as your fall to ask in supply I any material I shouldn’t want little restrictions guys just now, products, but over they’re I a and And know pretty under of about bit. you your manufacturing have geopolitics the as China footprint potential I whatnot. China thinking guess, and of you. future are a ancillary anticipating about Or, been some across any we’ve are chain, disruptions Thank risks, because more there’s and in you crackdown seen the you how disruptions? guess, potential

Keh-Shew Lu

China actually, doing well the May When last been lockdown we I, different of down. during have year. this area have

And it. so handle how know to we

And so see far, can you operation. our

support CNT and and the some see, we the COVID-XX month even shutdown still Shanghai have, in quarter, Shanghai and for to shutdown. move we one lockdown two operation for able have Second months of but to again, okay, quarter, the problem, third the the area, almost we to they of

different able area. shutdown, or And to we know some moves even center So locations, handle operational or operation Shanghai operation. call these to we from to other close we are around move the reverse to how our loop

really put So I this not concern too area. much in

Operator

question next Fargo Our comes ahead. Securities. from Mobley Wells of Please Gary go

Gary Mobley

question. Dr. over that your using bit be China, response. everybody. Hello, to I of a operate some we’re at Shanghai related closed how Thanks for those business a my able hearing over want U.S. that lock in country. the understand employee and of your click double parts on to to in Chengdu that an be a amidst bunch COVID facilities in environment to backdrop downs. what that of you’re here taking I least backlash to from seems in working the loop seems of there Lu

So curious let’s know there. just start to that. well, how And, with managing you’re, I’m

Emily Yang

a comment maybe first, Well, me let make right. Gary,

So next something still hard in overall, when to right? I The market going the the what’s think expertise China and is experience our dynamic, in in with pretty situation to is I happen solution able to Lu’s think the happen Dr. predict. we’ll manufacturing matter the side next, to that us to strategy how what’s definitely to going best be and our the adjust confidence no gives support and our customer. during operate crisis, point

we’re much I what’s is So next. we don’t whatever think going happen. that’s to to ready happen pretty know think I going But

Gary Mobley

Emily.

fungible truly automotive notable follow long. That’s me. be ask, overall manufacturing or as couple still automotive market still markets strong? then well, grade times, by or manufacturing change to need for I lead of that Any whatnot? wanted qualification is possible where remain markets whether how they’re it for where like And a that up Thank questions. Is order Just in truly can end and your reallocate capacity you. end you you whereby customer

Emily Yang

the there the two understanding demand So is focusing on been we’ve really and I lead All no significant along years, during customers’ even of me about answer true adjustments. time. question last Overall think the the time. let first changes making

I really adjust then one our quickly from think market others. and our of the about capacity the ability is support part second and your to question to

our the think, a testament result is I of good QX ability.

the we and markets, So automotive base. slow customer demand or the industrial actually the adjusted from low the to and NPC did consumers quickly like smartphone

So all qualified. our factory is automotive

And to quickly so the capability that adjust. us gives

the think we second as So but talked the same quarter, QX, the about also I not thing well. only

that confidence you the the So I to flexibility hope quickly support. guys will give and have capability we that do adjust the our

Operator

next Williams of Our David ahead. question from Please Benchmark. comes go

David Williams

congratulations of content, afternoon, especially there. solid the seeing had a drive thinking lot clearly just growth, kind in And maybe initiative that on really automotive and here, the the to of traction. you share good Hey, results the you’re just macro. Emily, really this first, this about you’ve gains

Just the really And demand later in? maybe kind and because of you’re design you’ve wins? are of had you seeing we the just being over automotive but of anything should about new terms is solid quarter, side? like Or anything that slowing the wondering, growth in on really that just the in last saying Was there thinking it be there pulled this maybe seems quarters. this several particularly,

Emily Yang

Yes.

So the look David result absolutely if we you’re right. so at

record even and automotive. that’s growth. For year-over-year for definitely XX% which achieved is that’s compare XX%, a we quarter-over-quarter, QX If growth, we actually XX%

just attention, quarter. point the also but third for want I the So not to

So openly XX%. we’d compound growth XXXX, rate of a to from actually talking be annual have XXXX about we

but over a just quarter is a consistently this not years. or many So quarter, few one

see the What from view. automotive actually we structure back. design a years of focus topology So and change established we significant point is

a different of is So talking excitement lot I’ve into about extended been seeing areas. we new protocols start the

Pericom adaption Gigabit So example We product Express, beginning adoption. family. one is start being the this is of adapted. Ethernet seeing good PCI And

the So growth that gives us about a future. lot confidence the of in

design look at also We our pipeline.

significantly. continues to So it grow

support our growth quarter-over-quarter ongoing So year-over-year. that’s a and to reason

Keh-Shew Lu

to policy possible, We a need contains part. grade products automotive implement be new call two that we all David. Yes the qualified, if

the two automotive if these So, part visit, takes we therefore years other for design we product up parts most the consumer It on than possible, much product or of and ramp win we almost and parts, be for rendered. to two our focus the have new market new the slower allowed when signals. they

revenue. is getting look you if our of at have total so of segment quarter-over-quarter the we XX% another you are of revenue. to to And as implement that’s key And And a can consistently, coming now year-over-year, revenue we segment. been automotive from measurement percent see our automotive percent is the increase we

very term. is long driving. So the not This this a is short term

that see the the all a to I be will won’t a continue. so it of other bit, as that can growth little And percent go we but might direction you be, be revenue

David Williams

for maybe things demand or that around Okay. of one you about broader be there. surprise quarter few should should was shifting last some anything in are think question. terms maybe Fantastic. caution? stronger the any either than we you maybe me where there just maybe Lu in would shifting, have Thanks for we then see Dr. or could the a that from quarters the you or But anticipated? color And Anything that next

Emily Yang

very Yes, so sides would from the demand say, very, feel strong. definitely, I automotive

markets, surprises strong of that’s really I again the in a Chengdu, So to an gave other second opportunity through think demand with some but we well. it manage as balance positive slow our crisis power demonstrated the And us the the capability of really news. constraint

Keh-Shew Lu

our much can clearer see quarter not say, quarter, market. make guidance. can three the quarter we business you much what can quarter much we the we And guidance, if the in in you later, surprise, ask see may fourth fourth third me clearer. now And the be third and in will therefore but when in quarter see again, we And meet we can for see still you indeed, if any clearer, two,

Operator

comes Our Please of go Tristan from Baird. ahead. next question Gerra

Tristan Gerra

or good afternoon, good Hi, morning.

well of of would orders place those season, a to of would been of contracts rest the to the And orders about sitting pockets this these has for for non-cancelable second customers? you year So to normalization been of or advertised half expect how across? weakness of how first cancelable expect pricing made are year, through your the we’re also, this with half Given seek there’s going is which the other year you non of lot in commentary the this in peers, environment? automotive some sustainable earnings next markets, be the in end

Emily Yang

Hi, Yes. still trend Tristan. pricing Overall is unstable.

So we don’t don’t change in year. half the non-cancelable for expect to first And short the making not implement the then quarters half that change. second significant policy, also coming any We the significant overall that term. few from returning not NCNR, we of changed we significantly expect back. be or Again,

Tristan Gerra

And then as question. a up follow

So and were China’s down power items the QX terms we also in there know of look constraints. specific weak, some the but

how as to QX? from in what other even quantify much non-recurring of be QX continues happened additional in that happened there’s how the China and versus we lock that a in no we downs potential of get portion weakness weak quarters, assuming So from in QX recover

Emily Yang

Tristan, market think the is I Well, overall, dynamic. extremely still

what of QX to the is all the different recovery, the by us information, going I everything thing the actually did with but to we at end and look think for we it’s come record factors POS resell QX, backlog difficult we guidance. together the is predict exactly the and one or we up put happen

to predict really is best put to our the would already. recovery we based when in guidance for knowledge, us China. we It’s best our everything estimated, I into happen did a bit on say, going difficult So

Keh-Shew Lu

situation, you in mentioned seasonality. look we still If China like even it, move at you like

fourth this typically the a difficulty a significantly the So, somewhere X%. had market difficulty said pay typically, we our bit time we quarter a we And of with around And quarter, year, we the have down in guide, a wise said X%. be better first may then, we than even good X%.

multiples. the running we of yes, close unstable guide market able the to but is business, is our still and to very seasonality very So very dynamic, type

Emily Yang

Diode business. more I very the think to of small overall a business I consumer actually portion thing add local portion one the from the it’s is China want

Operator

[Operator And of next William come go Instructions] will Stein Please question Truist our from Securities. ahead.

William Stein

add And I results my for thanks Great, my good taking and the on very to question. outlook. want congratulations

this want big I of and many investors of is of to distill think sort sort to now. companies point I think the I contention what right between

scenarios is in really I going already we And is, and bad we’ve We’ve and And of look, I some investors And have up significantly. quarters of diode of across holding when end which a industrial you don’t just next. that as well. we hearing markets. think to the this for from then those And just couple are and it’s What sees pretty downturn right just is the end automotive they’re last automotive, to is markets move. we’re to about quarters? a Are the you. markets end markets couple to pretty of really wonder companies from consensus seeing, downturn, consumer model other industrial it’s have? time. one these rolling and strong? and these the that of out think Thank you just weaken not seen seen next do a in you play think We’re expecting to matter your their among industrial that some even. the it’s remain few anticipate sort automotive punishment, take in likely like are going the which Or

Emily Yang

than Well, first of forecast quarter we all, don’t really a and more guidance. provide

think I personal this. maybe what share I’ll view my over just

more I really What and communications a call seeing computing inventory I’m definitely the think seeing consumer is bigger I is rebalancing. adjustment.

the inventory, certain quarters, over and the it of reset it. they need buildup adjust to So

It’s it and seen, industrial a with the but haven’t is different. already. we’ve not like automotive we bit adjustments little just some scale seeing been So

see. So I would make to Lu what Dr. let that’s I few more comments,

Keh-Shew Lu

not and we the be were how okay. able to we total quarter strategy, [Indiscernible] the our of we solution. term to the And So actually, way. of therefore from that we and in as to in participate spent continued we even short for all Actually automotive are going is new handle after- use sale the strong editorial the market product continue content market way example, a extra, the the lot to If strength up quarter- that it communication down. this consumer much our is how going going important And this is market is automotive, be commission We market do similar And time put automotive softness. increasing, qualified. spent a

For center, up. the focus several more that be could area, server the in data area and on end PC, But PC slow we in pick down. start high you could or it focus then yes, be more focus PC example, center, if we computing, end it data more high the

Okay.

of the you keep the market. that preview balance of So

and So meet that’s very high end we how we market consumer, improve continue do how the communication, confident IoT our our end grow balance? softness, we the and are to way are able why dose is we Or how able XG, guidance, we we how growing, to up? because one on were do we

William Stein

that. be update appreciate and progressing any your of up, hoping ask and under plan the can this give ownership. Thank one helpful. product us I’m follow a us you on can more or future you an is selling offer might other I update I If manufacturing you. forget how you’re of that’s if if South fab already I would Portland facility, out

Keh-Shew Lu

demand. or this we just in Well, we year, acquire SP fab to have June and contract the if support have their we so

time. our if and own develop qualify to we Okay, and own opportunity takes take it product. our But process that

Okay.

take example, and up. it then for it takes probably while probably more in qualify a implement it to and then one So than the to product to process year, wrap year one

tough have them for I now a support But while. to -- for that tell might supported need for we to So time. yes, existing have should their fortunately, we our,

Emily Yang

well. Yes everything would so on track based our I plan. It’s on is progressing say

Operator

any would our for question session. concludes Keh-Shew I closing This over remarks. to conference Dr. to and Lu the like turn answer

Keh-Shew Lu

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

Operator

now conference now you attending and The presentation disconnect. today’s may Thank is you for concluded.

Diodes (DIOD) 8 Nov 222022 Q3 Earnings call transcript