-
Renesas Electronics Corporation has announced its consolidated financial results for the year ending December 31, 2024. The company reported a revenue of 1,348.5 billion yen, marking an 8.2% decrease from the previous year.
The decline in revenue was primarily attributed to a downturn in the Industrial, Infrastructure, and IoT sectors, driven by weakening demand. Despite this, the Automotive Business segment experienced growth, benefiting from yen depreciation and channel inventory expansion.
Gross profit for the year stood at 749.8 billion yen, a decrease from the prior year. This reduction was due to lower revenue, decreased factory utilization, and a less favorable product mix. Additionally, increased research and development expenses contributed to a decline in operating profit, which fell by 167.8 billion yen to 223.0 billion yen. Consequently, profit attributable to owners of the parent company decreased by 118.0 billion yen, totaling 219.1 billion yen for the year.
In the fourth quarter of 2024, Renesas reported revenue of 292.6 billion yen. The company achieved a non-GAAP gross margin of 54.9% and a non-GAAP operating margin of 25.8% during this period.
Looking ahead, Renesas has provided consolidated forecasts for the first quarter of 2025. The company anticipates non-GAAP revenue to range between 301.5 billion yen and 316.5 billion yen. The non-GAAP gross margin is projected at 54.0%, with a non-GAAP operating margin of 24.0%.
Renesas continues to navigate the challenges posed by fluctuating market demands, focusing on its core strengths in the semiconductor industry to drive future growth.
Original – Renesas Electronics
-
Coherent announced financial results for its fiscal second quarter ended December 31, 2024.
Revenue for the second quarter of fiscal 2025 was $1.43 billion, with GAAP gross margin of 35.5% and GAAP net income of $0.44 per diluted share. On a non-GAAP basis, gross margin was 38.2% with net income per diluted share of $0.95.
Jim Anderson, CEO, said, “We delivered strong growth in the December quarter on both a sequential and year-over-year basis, resulting in record revenue, driven by another quarter of strong AI-related Data Center demand as well as growth in our Telecom business. We also drove significant improvement in gross margin and operating margin. I would like to thank my Coherent teammates for their strong execution.”
Sherri Luther, CFO, said, “I am pleased by our profitability, cash generation and debt reduction in the second quarter. Revenue growth and margin expansion drove significant sequential and year-over-year increases in our GAAP and Non-GAAP EPS. We also paid down $132 million of our outstanding debt.”
Original – Coherent
-
Power Integrations announced that Balu Balakrishnan, the company’s CEO since 2002, will retire from that role once a successor is in place. The company’s board of directors has retained an executive search firm to assist in identifying its next CEO; both internal and external candidates will be considered. Mr. Balakrishnan, 70, intends to serve as executive chairman of the company’s board for as long as is needed to ensure a smooth transition to his successor, and is expected to remain on the board of directors thereafter.
Mr. Balakrishnan joined Power Integrations in 1989, shortly after its formation, from National Semiconductor, where he was a product-line manager. He is the inventor of many Power Integrations products including TOPSwitch™, the company’s first commercial product, followed by TinySwitch™, the first product to feature the company’s renowned EcoSmart™ technology for reducing standby-power waste. Mr. Balakrishnan served in a succession of executive roles before being named president and chief operating officer in 2001.
In 2002 he was named CEO and joined the company’s board of directors. He has been awarded more than 200 U.S. patents and has received numerous awards including the Discover Award for Technological Innovation in recognition of the environmental benefits of EcoSmart technology.
Commented Mr. Balakrishnan: “I am incredibly proud of what we have achieved at Power Integrations over the past 35 years. And while it is time for me to turn over leadership of the company to a new CEO, I remain as passionate as ever about the work we are doing, and I believe exciting times are ahead. We have a talented, dedicated workforce and a promising array of products and technologies with which to pursue growth opportunities in a broad range of end markets. I look forward to working with our new CEO to ensure a smooth transition.”
Bala Iyer, lead independent director of Power Integrations’ board, added: “The board and I congratulate Balu for all that he has achieved at Power Integrations, and we are delighted that he will continue to play an important role in the company’s future. Balu is not only one of the great inventors in the history of the power semiconductor industry, but also an outstanding leader who has built a durable franchise with strong intellectual property, a deep reservoir of engineering talent and a culture that nurtures innovation. I am confident that we will identify an outstanding individual to lead the company in its next phase of growth, building on the strong foundation that Balu has put in place.”
Original – Power Integrations
