Navitas Semiconductor Corporation reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 8.61 million compared to USD 5.45 million a year ago. Net income was USD 33.84 million compared to net loss of USD 18.65 million a year ago. Basic earnings per share from continuing operations was USD 0.27 compared to basic loss per share from continuing operations of USD 0.89 a year ago. Diluted earnings per share from continuing operations was USD 0.26 compared to diluted loss per share from continuing operations of USD 0.89 a year ago.
For the six months, sales was USD 15.35 million compared to USD 10.77 million a year ago. Net income was USD 113.63 million compared to net loss of USD 26 million a year ago. Basic earnings per share from continuing operations was USD 0.93 compared to basic loss per share from continuing operations of USD 1.28 a year ago. Diluted earnings per share from continuing operations was USD 0.87 compared to diluted loss per share from continuing operations of USD 1.28 a year ago.