Diodes Incorporated

mode. At the conclusion of today's conference call, instructions will be given for the question and answer session. If anyone needs assistance at that time during the conference call, please press the star key followed by zero on your touchtone phone. As a reminder, this conference call is being recorded today, Tuesday, February 11, 2025. I would now like to turn the call over to Leanne Seavers of Shelton Group Investor Relations. Leanne, please go ahead.

Good afternoon and welcome to Diode's fourth quarter in fiscal 2024 financial results conference call. I'm Leanne Sievers, president of Shelton Group, Diode's investor relations firm. Joining us today are Diode's president, Gary Yu, chief financial officer, Brett Whitmire, senior vice president of worldwide sales and marketing, Emily Yang, and director of investor relations, Gurmeet Dhaliwal. I'd like to remind our listeners that the results announced today are preliminary as they are subject to the company finalizing its closing procedures in customary quarterly review by the company's independent registered public accounting firm. As such, these results are unaudited and subject to revision until the company files its Form 10-K for its fiscal year ended December 31, 2024. In addition, management's prepared remarks contain forward-looking statements, which are subject to risks and uncertainties, and management may make additional forward-looking statements in response to your questions. Therefore, the company claims the protection of the safe harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act of 1995. Actual results may differ from those discussed today, and therefore we refer you to a more detailed discussion of the risks and uncertainties in the company's filings with the Securities and Exchange Commission, including Form 10-K and 10-Q. In addition, any projections as to the company's future performance represent management's estimates as of today, February 11, 2025. DAS assumes no obligation to update these projections in the future as market conditions may or may not change, except to the extent required by applicable law. Additionally, the company's press release and management statements during this conference call will include discussions of certain measures and financial information in GAAP and non-GAAP terms. Included in the company's press release are definitions and reconciliations of GAAP to non-GAAP items, which provide additional details. Also, throughout the company's press release and management statements during the conference call, We refer to net income attributable to common stockholders as gap net income. For those of you unable to listen to the entire call at this time, a recording will be available via webcast for 90 days in the investor relations section of DIOD's website at www.diodes.com. And now I'll turn the call over to DIOD's president, Gary Yu. Gary, please go ahead.

Welcome, everyone, and thank you for joining us on today's conference call. Our above seasonal revenue results in the fourth quarter reflect the improving momentum we have seen over the past few quarters, as the market in Asia gradually improved, especially in China and the Southeast Asia region. We achieved 5% growth over the fourth quarter of 2023, which makes a return to year-over-year growth following the multi-year market slowdown. Even though the overall global demand environment remains challenging, especially in Europe and North America. We're able to maintain our automotive and industrial mix percentage at 42% of total product revenue, which is a testament to the progress we have made on our new product and the content expansion initiatives. BIOS entered a new year having strong POS in Asia for 2024. Improves level of channel inventory and a solid balance sheet. combined with a committed focus on expanding growth in our target market, especially the automotive and industrial markets, and capitalizing on new opportunities in AI-related applications. Based on current data available, we expect 2025 to be a stronger year for DIOS than 2024. In addition to our past effort to lower manufacturing costs and further develop our process technology and capabilities, we're qualifying and running more product in our internal facilities to minimize near-term underloading costs until demand improves. Our focus remains on prioritizing investments in the automotive and industrial markets with our analog and power district products to further improve the quality and the mix of our portfolio. With our revenue contribution from auto and industrial remaining consistently above our target model, We are well positioned for growth and margin expansion as market recovery broadens across our end markets in 2025 and beyond. With that, let me now turn the call over to Brad to discuss our first quarter and fiscal 2024 financial results, as well as our first quarter 2025 guidance in more detail.