Semiconductor parts maker Diodes Inc. on Wednesday said revenue for the fourth quarter will be stronger than expected, bolstered by strong demand from Asian customers.
Diodes said it now expects revenue of $128 million to $131 million. Previously, the company had predicted revenue of $126 million to $130 million.
The company said its gross margin forecast is unchanged, 31 percent to 33 percent, and operating expenses will be comparable to the last quarter on a percentage of revenue basis.
Diodes also said it expects a tax benefit of $2.5 million to $3.5 million in the quarter, which ends in December.
Shares of Diodes sank 57 cents, or 2.8 percent, to $19.54 in midday trading.