International Rectifier Corp. on Monday reported a fiscal second-quarter profit well above Wall Street expectations, citing higher sales and improved margins for its power management chips.

After the markets closed, the El Segundo semiconductor maker earned net income of $43.9 million (62 cents a share), compared with $28.3 million (39 cents) a year earlier. Revenue rose 34 percent to nearly $282 million.

Analysts surveyed by Thomson Reuters on average expected per-share profit of 48 cents on revenue nearly $282 million.

The gross margin was 43 percent, compared with 30 percent a year earlier. The company attributed that improvement to lower manufacturing costs. The company’s chips are used in computers, energy-efficient appliances, lighting, automobiles, satellites and aircraft.

“We have executed on our strategy and delivered one of the most profitable quarters for the company in many years,” Chief Executive Oleg Khaykin said in a statement. “Strong demand in the appliance, industrial and automotive markets has offset weakness in the consumer and computing markets.”

Khaykin said the company currently expects quarterly revenue to range from $285 million to $295 million. The Wall Street consensus is for less than $276 million.

Shares, which earlier closed up 2.4 percent, to $32.03 on the Nasdaq, rose nearly 3 percent in after-hours trading.