International Rectifier announced financial results for the fourth quarter fiscal year 2009, ended June 28, 2009. Revenue for the fourth quarter fiscal year 2009 was $159.6 million. Excluding Intellectual Property and Transition Services segment revenue, fourth quarter fiscal year 2009 revenue from ongoing customer segments was $154.1 million, up 16.2% compared with $132.6 million in the prior quarter, and down 18.6% compared with $189.4 million reported in the fourth quarter fiscal year 2008.

The company reported fourth quarter fiscal year 2009 net income of $29.1 million compared with a net loss of $82.6 million in the prior quarter, and a net loss of $50.4 million in the fourth quarter fiscal year 2008. The results for the fourth quarter fiscal year 2009 include a $96.1 million gain on the divestiture of the Power Control Systems (PCS) business, related to the settlement agreement with Vishay, a $45 million charge related to an agreement in principle to settle the pending securities class action litigation, a $9.6 million tax benefit, a $9.5 million expense recovery from an insurance reimbursement and a $2.0 million investment impairment charge.