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Resurgent IT market drives International Rectifier's revenues

Posted: 04 Aug 2004 ?? ?Print Version ?Bookmark and Share

Keywords:servers? routers? switches? pc? switching regulator circuits?

International Rectifier reported revenues of $298.6 million for the quarter ended June 30, up 8 percent from $275.4 million in the previous quarter and up 31 percent from the $228.4 million for the June quarter of last year.

Current earnings of $36.6 million (or $0.52 per share) were more than double that of a year ago, IR said.

The company reported a strong build-up of orders throughout the year, peaking in June. IT and the appliance industry led the way.

"IT - servers, routers and switches as well as PCs - grew 20 percent from the previous quarter, and 70 percent year-on-year," Alex Lidow, IR's CEO told analysts.

"Our backlog is the highest in the company's history. It has grown steadily every quarter for the past seven quarters climbing to over $400 million, up 65 percent from $245 million in the prior year," he added.

IR secured over $170-million in design wins - a company record - during the June quarter. IT servers and switching stations were the biggest customers for IR's power FETs and switching regulator circuits, particularly low-profile, high-current switches, point-of-load converters and 20-, 30-, and 40A synchronous buck regulators.

IR's multiphase regulators were also designed into a number of portable PCs.

The company also reported 22 new power management designs for Intel's latest Dothan platform and 23 P4 mobile-based designs. In desktops, IR secured three additional designs based on Intel's new Grantsdale platform. In high- performance servers using Intel's Nocona processor and Lindenhurst chip set, IR won 26 new designs, and an additional 15 designs in other processor platforms.

In all, IR said it grabbed positions at seven of the top PC and server companies along with two of the top communications networking companies.

Region-by-region, revenue growth was led by Asia Pacific, up 14 percent over the March quarter and 60 percent from the June quarter last year. In energy-efficient appliances, IR won new designs for Sanyo, Miele, Hitachi and Carrier programs. "In addition to IT, the Asians are big consumers of electronics-based appliances," Lidow said. "Energy efficiency goes a long way there," he said.

In consumer electronics, Samsung, LG and Matsushita utilized IR power components for their plasma, LCD and DLP digital televisions.

In automotive, IR claimed design wins at Bosch, Delphi, Motorola Automotive, Siemens VDO, Continental and TRW. Other automotive customers include BMW, Volkswagen, Audi, Ford and DaimlerChrysler. IR controllers and FETs support integrated starter alternators, electric power steering, engine preheat systems and direct fuel-injection systems.

In satellites and the military, new customers include Lockheed-Martin, General Dynamics, Honeywell, NASA and Northrop-Grumman.

- Stephan Ohr

EE Times

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