Exhibit 99.1

Diodes Incorporated Reports First Quarter 2011 Financial Results

Continues Market Share Gains and Achieves Better than Seasonal Results

Plano, Texas – May 9, 2011 – Diodes Incorporated (Nasdaq: DIOD), a leading global manufacturer and supplier of high-quality application specific standard products within the broad discrete, logic and analog semiconductor markets, today reported its financial results for the first quarter ended March 31, 2011.

First Quarter Highlights

•		Revenue was $161.6 million, an increase of 18 percent over the $136.8 million in the first quarter of 2010, and a decrease of 1 percent from the $163.8 million in the fourth quarter of 2010;
•		Gross profit was $57.4 million, an increase of 20 percent over the $47.8 million in the first quarter of 2010, and a decrease of 8 percent from the $62.6 million in the fourth quarter 2010;
•		Gross profit margin was 35.5 percent, compared to 34.9 percent in the first quarter 2010 and 38.3 percent in the fourth quarter 2010;
•		GAAP net income was $19.7 million, or $0.42 per diluted share, compared to first quarter of 2010 GAAP net income of $15.0 million, or $0.33 per diluted share, and fourth quarter of 2010 GAAP net income of $24.0 million, or $0.52 per diluted share;
•		Non-GAAP adjusted net income was $21.8 million, or $0.47 per diluted share, compared to first quarter 2010 adjusted net income of $15.7 million, or $0.35 per diluted share, and fourth quarter 2010 adjusted net income of $25.3 million, or $0.55 per diluted share;
•		Excluding $2.1 million of share-based compensation expense, both GAAP and non-GAAP adjusted net income would have increased by $0.04 per diluted share; and
•		Achieved $15.7 million cash flow from operations, $7.8 million net cash flow and $3.3 million free cash flow.

Commenting on the results, Dr. Keh-Shew Lu, President and Chief Executive Officer of Diodes Incorporated, stated, “Our revenue for the quarter was stronger than typical first quarter seasonal patterns, resulting from market share gains in tablets, notebooks, smartphones and LED TVs. We had a strong quarter in Europe and Asia, while North America revenue declined sequentially. The quarter was impacted by reduced unit output from our Shanghai packaging facilities resulting from lower equipment utilization caused by China labor shortages mentioned last quarter and a larger than normal number of workers not returning from the Chinese New Year holiday. We shipped from finished goods inventory and reduced our contract assembly commitments, which allowed us to achieve sequential revenue growth in our core business. Gross margin for the quarter reflects reduced fixed cost coverage caused by the lower unit output. We continue hiring manufacturing operators to ensure maximum equipment utilization by matching fully-trained manpower with the available equipment. Overall, I am pleased with our results as we continue to execute on our profitable growth model, new product initiatives and design win traction, which will contribute to our growth in the coming quarter and year.”

First Quarter 2011

Revenue for the first quarter of 2011 was $161.6 million, an increase of 18 percent over the $136.8 million in the first quarter of 2010, and a decrease of 1 percent over $163.8 million in the fourth quarter of 2010. Revenue in the quarter was stronger than typical seasonal patterns, resulting from market share gains in tablets, notebooks, smartphones and LED TV’s.

Gross profit for the first quarter of 2011 was $57.4 million, or 35.5 percent of revenue, compared to $47.8 million, or 34.9 percent, in the first quarter of 2010 and $62.6 million, or 38.3 percent of revenue, in the fourth quarter of 2010. The sequential decline in gross profit margin was primarily due to manpower shortages at the Company’s packaging facilities, which resulted in lower equipment utilization and reduced fixed cost coverage.

First quarter of 2011 GAAP net income was $19.7 million, or $0.42 per diluted share, compared to GAAP net income of $15.0 million, or $0.33 per diluted share, in the first quarter of 2010 and GAAP net income of $24.0 million, or $0.52 per diluted share, in the fourth quarter of 2010.

Non-GAAP adjusted net income for the first quarter of 2011 was $21.8 million, or $0.47 per diluted share, which excluded, net of tax, $1.3 million of non-cash interest expense related to the amortization of debt discount on the Convertible Senior Notes and $0.8 million of non-cash acquisition related intangible asset amortization costs, compared to adjusted net income of $15.7 million, or $0.35 per diluted share, in the first quarter of 2010 and adjusted net income of $25.3 million, or $0.55 per diluted share, in the fourth quarter of 2010. The following is a summary reconciliation of GAAP net income to non-GAAP adjusted net income and per share data, net of tax (in thousands, except per share data):

		Three Months Ended
		March 31, 2011
GAAP net income		$	19,684
GAAP diluted earnings per share		$	0.42
Adjustments to reconcile net income to adjusted net income:
Amortization of acquisition related intangible assets			817
Amortization of debt discount			1,290
Non-GAAP adjusted net income		$	21,791
Non-GAAP adjusted diluted earnings per share		$	0.47

See tables below for further details of the reconciliation.

Included in first quarter 2011 GAAP and non-GAAP adjusted net income was approximately $2.1 million, net of tax, non-cash share-based compensation expense. Excluding this expense, both GAAP and non-GAAP adjusted diluted EPS would have increased by an additional $0.04 per diluted share.

EBITDA, which represents earnings before net interest expense, income tax provision, depreciation and amortization, for the first quarter of 2011 was $41.1 million, compared to $32.9 million for the first quarter of 2010 and $46.3 million for the fourth quarter of 2010. For a reconciliation of GAAP net income to EBITDA, see table below.

As of March 31, 2011, Diodes had approximately $279 million in cash and cash equivalents and approximately $130 million of Convertible Senior Notes outstanding.

Business Outlook

Dr. Lu concluded, “For the second quarter of 2011, we expect to achieve growth over the first quarter and further expand our market share as a result of our continued focus on design wins, new products and customer expansion. We expect revenue for the second quarter of 2011 to range between $170 million and $178 million, an increase of 5 to 10 percent sequentially. We expect gross margin to be comparable to the first quarter. Operating expenses are expected to be down slightly from the first quarter levels on a

percent of revenue basis. We expect our income tax rate to range between 17 and 23 percent. Shares used to calculate GAAP EPS for the second quarter are anticipated to be approximately 47.5 million.”

Conference Call

Diodes will host a conference call on Monday, May 9, 2011 at 4:00 p.m. Central Time (5:00 p.m. Eastern Time) to discuss its first quarter 2010 financial results. Investors and analysts may join the conference call by dialing 1-866-202-3109 and providing the confirmation code 18938498. International callers may join the teleconference by dialing 1-617-213-8844. A telephone replay of the call will be made available approximately two hours after the call and will remain available until May 12, 2011 at midnight Central Time. The replay number is 1-888-286-8010 with a pass code of 10528443. International callers should dial 1-617-801-6888 and enter the same pass code at the prompt. Additionally, this conference call will be broadcast live over the Internet and can be accessed by all interested parties on the Investors section of Diodes’ website at http://www.diodes.com. To listen to the live call, please go to the Investors section of Diodes’ website and click on the conference call link at least fifteen minutes prior to the start of the call to register, download and install any necessary audio software. For those unable to participate during the live broadcast, a replay will be available shortly after the call on Diodes’ website for approximately 60 days.

About Diodes Incorporated

Diodes Incorporated (Nasdaq: DIOD), a Standard and Poor’s SmallCap 600 and Russell 3000 Index company, is a leading global manufacturer and supplier of high-quality application specific standard products within the broad discrete, logic, and analog semiconductor markets. Diodes serves the consumer electronics, computing, communications, industrial, and automotive markets. Diodes’ products include diodes, rectifiers, transistors, MOSFETs, protection devices, functional specific arrays, single gate logic, amplifiers and comparators, Hall-effect and temperature sensors; power management devices, including LED drivers, DC-DC switching and linear voltage regulators, and voltage references along with special function devices, such as USB power switches, load switches, voltage supervisors, and motor controllers. The Company’s corporate headquarters, logistics center, and Americas’ sales office are located in Plano, Texas. Design, marketing, and engineering centers are located in Plano; San Jose, California; Taipei, Taiwan; Manchester, England; and Neuhaus, Germany. The Company’s wafer fabrication facilities are located in Kansas City, Missouri and Manchester, with two manufacturing facilities located in Shanghai, China, another in Neuhaus, and a joint venture facility located in Chengdu, China. Additional engineering, sales, warehouse, and logistics offices are located in Taipei; Hong Kong; Manchester; and Munich, Germany; with support offices located throughout the world. For further information, including SEC filings, visit the Company’s website at http://www.diodes.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such statements include statements regarding our expectation that: we continue hiring manufacturing operators to ensure maximum equipment utilization by matching fully-trained manpower with the available equipment; overall, I am pleased with our results as we continue to execute on our profitable growth model, new product initiatives and design win traction, which will contribute to our growth in the coming quarter and year; for the second quarter of 2011, we expect to achieve growth over the first quarter and further expand our market share as a result of our continued focus on design wins, new products and customer expansion; we expect revenue for the second quarter of 2011 to range between $170 million and $178 million, an increase of 5 to 10 percent sequentially; we expect gross margin to be comparable to the first quarter; operating expenses are expected to be down slightly from the first quarter levels on a percent of revenue basis; we expect our income tax rate to range between 17 and 23 percent; and shares used to calculate GAAP EPS for the second quarter are anticipated to be approximately 47.5 million. Potential risks and uncertainties include, but are not limited to, such factors as: we may not be able to maintain our current growth strategy or continue to maintain our current performance, costs and loadings in our manufacturing facilities; risks of domestic and foreign operations, including excessive operation costs, labor shortages and our joint venture prospects; unfavorable currency exchange rates; our future guidance may be incorrect; the global economic weakness may be more severe or last longer

than we currently anticipated; and other information detailed from time to time in the Company’s filings with the United States Securities and Exchange Commission.

Recent news releases, annual reports and SEC filings are available at the Company’s website: http://www.diodes.com. Written requests may be sent directly to the Company, or they may be e-mailed to: diodes-fin@diodes.com.

# # #

Company Contact:
Diodes Incorporated
Laura Mehrl
Director of Investor Relations
P: 972-987-3959
E: laura_mehrl@diodes.com

Investor Relations Contact:
Shelton Group
Leanne Sievers
EVP, Investor Relations
P: 949-224-3874
E: lsievers@sheltongroup.com

DIODES INCORPORATED AND SUBSIDIARIES

		Three Months Ended
		March 31,
		2011				2010
NET SALES		$	161,555			$	136,847
COST OF GOODS SOLD			104,162				89,064
Gross profit			57,393				47,783
OPERATING EXPENSES
Selling, general and administrative			21,410				21,419
Research and development			6,518				6,376
Amortization of acquisition related intangible assets			1,135				1,128
Total operating expenses			29,063				28,923
Income from operations			28,330				18,860
OTHER INCOME (EXPENSES)
Interest income			221				1,312
Interest expense			(934	)			(1,982	)
Amortization of debt discount			(1,984	)			(1,834	)
Other			(534	)			2,648
Total other income (expenses)			(3,231	)			144
Income before income taxes and noncontrolling interest			25,099				19,004
INCOME TAX PROVISION			4,835				3,324
NET INCOME			20,264				15,680
Less: NET INCOME attributable to noncontrolling interest			(580	)			(722	)
NET INCOME attributable to common stockholders		$	19,684			$	14,958
EARNINGS PER SHARE attributable to common stockholders
Basic		$	0.44			$	0.34
Diluted		$	0.42			$	0.33
Number of shares used in computation
Basic			44,820				43,767
Diluted			46,680				45,323

Note: Throughout this release, we refer to “net income attributable to common stockholders” as “net income.”

DIODES INCORPORATED AND SUBSIDIARIES

For the three months ended March 31, 2011:

						Other
		Operating				Income				Income Tax
		Expenses				(Expense)				Provision				Net Income
GAAP														$	19,684
Earnings per share (GAAP)
Diluted														$	0.42
Adjustments to reconcile net income to adjusted net income:
Amortization of acquisition related intangible assets			1,135				—				(318	)			817
Amortization of debt discount			—				1,984				(694	)			1,290
Adjusted (Non-GAAP)														$	21,791
Diluted shares used in computing earnings per share															46,680
Adjusted earnings per share (Non-GAAP)
Diluted														$	0.47

Note: Included in GAAP and non-GAAP adjusted net income was approximately $2.1 million, net of tax, non-cash share-based compensation expense. Excluding this expense, both GAAP and non-GAAP adjusted diluted EPS would have increased by an additional $0.04 per share.

For the three months ended March 31, 2010:

						Other
		Operating				Income				Income Tax
		Expenses				(Expense)				Benefit				Net Income
GAAP														$	14,958
Earnings per share (GAAP)
Diluted														$	0.33
Adjustments to reconcile net income to adjusted net income:
Amortization of acquisition related intangible assets			1,128				—				(316	)			812
Amortization of debt discount			—				1,834				(715	)			1,119
Gain on sale of assets			—				(1,837	)			661				(1,176	)
Adjusted (Non-GAAP)														$	15,713
Diluted shares used in computing earnings per share															45,323
Adjusted earnings per share (Non-GAAP)
Diluted														$	0.35

Note: Included in GAAP and non-GAAP adjusted net income was approximately $2.1 million, net of tax, non-cash share-based compensation expense. Excluding this expense, both GAAP and non-GAAP adjusted diluted EPS would have increased by an additional $0.05 per share.

ADJUSTED NET INCOME

This measure consists of generally accepted accounting principles (“GAAP”) net income, which is then adjusted solely for the purpose of adjusting for amortization of acquisition related intangible assets, amortization of debt discount, and gain on sale of assets, as discussed below. Excluding gain on sale of assets provides investors with a better depiction of the Company’s operating results and provides a more informed baseline for modeling future earnings expectations. Excluding the amortization of acquisition related intangible assets and amortization of debt discount allows for comparison of the Company’s current and historic operating performance. The Company excludes the above listed items to evaluate the Company’s operating performance, to develop budgets, to determine incentive compensation awards and to manage cash expenditures. Presentation of the above non-GAAP measures allows investors to review the Company’s results of operations from the same viewpoint as the Company’s management and Board of Directors. The Company has historically provided similar non-GAAP financial measures to provide investors an enhanced understanding of its operations, facilitate investors’ analyses and comparisons of its current and past results of operations and provide insight into the prospects of its future performance. The Company also believes the non-GAAP measures are useful to investors because they provide additional information that research analysts use to evaluate semiconductor companies. These non-GAAP measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for or superior to GAAP results and may differ from measures used by other companies. The Company recommends a review of net income on both a GAAP basis and non-GAAP basis be performed to get a comprehensive view of the Company’s results. The Company provides a reconciliation of GAAP net income to non-GAAP adjusted net income.

Amortization of acquisition related intangible assets – The Company excluded the amortization of its acquisition related intangible assets including developed technologies and customer relationships. The fair value of the acquisition related intangible assets, which was allocated to the assets through purchase accounting, is amortized using straight-line methods which approximate the proportion of future cash flows estimated to be generated each period over the estimated useful lives of the applicable assets. The Company believes the exclusion of the amortization expense of acquisition related assets is appropriate as a significant portion of the purchase price for its acquisitions was allocated to the intangible assets that have short lives and exclusion of the amortization expense allows comparisons of operating results that are consistent over time for both the Company’s newly acquired and long-held businesses. In addition, the Company excluded the amortization expense as there is significant variability and unpredictability across other companies with respect to this expense.

Amortization of debt discount – The Company excluded the amortization of debt discount on its 2.25% Convertible Senior Notes (“Notes”). This amortization was excluded from management’s assessment of the Company’s core operating performance. Although the amortization of debt discount is recurring in nature, the expected life of the Notes is five years as that is the earliest date in which the Notes can be put back to the Company at par value. The amortization period ends October 1, 2011, at which time the Company will no longer be recording an amortization of debt discount. In addition, the Company has repurchased some of its Notes, which can make the principal amount outstanding and related amortization vary from period to period, and as such the Company believes the exclusion of the amortization facilitates comparisons with the results of other periods that may reflect different principal amounts outstanding and related amortization.

Gain on sale of assets – The Company excluded the gain recorded for the sale assets. During the first quarter of 2010, the Company sold assets located in Germany and this gain was excluded from management’s assessment of the Company’s core operating performance. The Company believes the exclusion of the gain on sale of assets provides investors an enhanced view of a gain the Company may incur from time to time and facilitates comparisons with results of other periods that may not reflect such gains.

ADJUSTED EARNINGS PER SHARE

This non-GAAP financial measure is the portion of the Company’s GAAP net income assigned to each share of stock, excluding amortization of acquisition related intangible assets, amortization of debt discount and gain on sale of assets, as described above. Excluding gain on sale of assets provides investors with a better depiction of the Company’s operating results and provides a more informed baseline for modeling future earnings expectations, as described in further detail above. Excluding the amortization of acquisition related intangible assets and amortization of debt discount allows for comparison of the Company’s current and historic operating performance, as described in further detail above. This non-GAAP measure should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for or superior to GAAP results and may differ from measures used by other companies. The Company recommends a review of diluted earnings per share on both a GAAP basis and non-GAAP basis be performed to obtain a comprehensive view of the Company’s results. Information on how these share calculations are made is included in the reconciliation table provided.

FREE CASH FLOW (FCF)

FCF of $3.3 million for the first quarter of 2011 is a non-GAAP financial measure, which is calculated by taking cash flow from operations less capital expenditures ($15.7 million less (-) $12.4 million). FCF represents the cash and cash equivalents that we are able to generate after taking into account cash outlays required to maintain or expand property, plant and equipment. FCF is important because it allows us to pursue opportunities to develop new products, make acquisitions and reduce debt.

DIODES INCORPORATED AND SUBSIDIARIES
CONSOLIDATED RECONCILIATION OF NET INCOME TO EBITDA

EBITDA represents earnings before net interest expense, income tax provision, depreciation and amortization. Management believes EBITDA is useful to investors because it is frequently used by securities analysts, investors and other interested parties, such as financial institutions in extending credit, in evaluating companies in our industry and provides further clarity on our profitability. In addition, management uses EBITDA, along with other GAAP measures, in evaluating our operating performance compared to that of other companies in our industry because the calculation of EBITDA generally eliminates the effects of financing, operating in different income tax jurisdictions, and accounting effects of capital spending, including the impact of our asset base, which can differ depending on the book value of assets and the accounting methods used to compute depreciation and amortization expense. EBITDA is not a recognized measurement under GAAP, and when analyzing our operating performance, investors should use EBITDA in addition to, and not as an alternative for, income from operations and net income, each as determined in accordance with GAAP. Because not all companies use identical calculations, our presentation of EBITDA may not be comparable to similarly titled measures used by other companies. Furthermore, EBITDA is not intended to be a measure of free cash flow for management’s discretionary use, as it does not consider certain cash requirements such as tax and debt service payments.

The following table provides a reconciliation of net income to EBITDA (in thousands, unaudited):

		Three Months Ended
		March 31,
		2011				2010
Net income (GAAP)		$	19,684			$	14,958
Plus:
Interest expense, net (1)			2,697				2,504
Income tax provision			4,835				3,324
Depreciation and amortization			13,923				12,069
EBITDA (Non-GAAP)		$	41,139			$	32,855

DIODES INCORPORATED AND SUBSIDIARIES

ASSETS
(in thousands)

		March 31,				December 31,
		2011				2010
		(Unaudited)
CURRENT ASSETS
Cash and cash equivalents		$	278,740			$	270,901
Accounts receivable, net			145,091				129,207
Inventories			123,086				120,689
Deferred income taxes, current			8,102				8,276
Prepaid expenses and other			13,994				11,679
Total current assets			569,013				540,752
PROPERTY, PLANT AND EQUIPMENT, net			207,336				200,745
DEFERRED INCOME TAXES, non current			1,380				1,574
OTHER ASSETS
Goodwill			69,636				68,949
Intangible assets, net			28,156				28,770
Other			6,277				5,760
Total assets		$	881,798			$	846,550

DIODES INCORPORATED AND SUBSIDIARIES
CONSOLIDATED CONDENSED BALANCE SHEETS

LIABILITIES AND EQUITY
(in thousands, except share data)

		March 31,				December 31,
		2011				2010
		(Unaudited)
CURRENT LIABILITIES
Accounts payable		$	74,069			$	70,057
Accrued liabilities			36,154				36,937
Income tax payable			13,917				15,412
Convertible senior notes			130,245				128,261
Other current liabilities			704				698
Total current liabilities			255,089				251,365
LONG-TERM DEBT, net of current portion			3,258				3,393
CAPITAL LEASE OBLIGATIONS, net of current portion			1,302				1,380
OTHER LONG-TERM LIABILITIES			31,093				37,520
Total liabilities			290,742				293,658
COMMITMENTS AND CONTINGENCIES
EQUITY
Diodes Incorporated stockholders’ equity
Preferred stock – par value $1.00 per share; 1,000,000 shares authorized; no shares issued or outstanding			—				—
Common stock – par value $0.66 2/3 per share; 70,000,000 shares authorized; 45,065,250 and 44,662,796 issued and outstanding at March 31, 2011 and December 31, 2010, respectively			30,044				29,775
Additional paid-in capital			237,435				231,842
Retained earnings			344,591				324,907
Accumulated other comprehensive loss			(33,042	)			(45,080	)
Total Diodes Incorporated stockholders’ equity			579,028				541,444
Noncontrolling interest			12,028				11,448
Total equity			591,056				552,892
Total liabilities and equity		$	881,798			$	846,550