Dylan McGrath EE Times (02/02/2010 4:46 PM EST)

SAN FRANCISCO—International Rectifier Corp. Tuesday (Feb. 2) reported quarterly sales that surpassed Wall Street's expectations, with the company's top executive saying design win activity remains strong across all market segments.

IR (El Segundo, Calif.) reported sales of $210.2 million for the quarter ended Dec. 27, 2009, up 17 percent from the previous quarter and up 11 percent from the year-ago quarter.

Analysts had predicted, on average, that IR would report quarterly sales of just over $196 million, according to Yahoo Finance.

IR reported a net income for the quarter of $28.3 million, or 39 cents per diluted share, compared to net losses in both the previous and year-ago quarters. But the firm noted that the results for the quarter included $27.8 million of tax benefits associated with the release of tax reserves.

For the current quarter, IR said it expects revenue to rise to between $225 million and $235 million, a larger increase than analysts were expecting, according to Yahoo Finance.

"Our design win activity remains strong across all our market segments and we continue to see robust customer demand in the March quarter," said Oleg Khaykin, IR president and CEO, in a statement.

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