Diodes Inc.’s Quarterly Profit Drops by 97%

Diodes Inc., a Chatsworth semiconductor company, said its third-quarter profit plunged 97% on a 5% decline in revenues compared with the same period last year.

Net income for the three months that ended Sept. 30 was $7,179 compared with $270,959 last year, while revenues fell to $3.74 million from $3.9 million last year.

Thomas Hurley, Diodes chairman and chief executive, attributed the results to the economic slump and a soft market for its products.

For the nine months that ended Sept. 30, Diodes earned $245,260 contrasted with a year-earlier loss of $63,173.

Revenues slipped to $10.88 million from $10.96 million last year.