International Rectifier Corp. said Tuesday that it swung to a profit in its fiscal fourth quarter, helped by proceeds from the sale of one of its business units.

After the markets closed, the El Segundo semiconductor maker reported net income of $29.1 million (41 cents per share) for the quarter ended June 28, compared with a net loss of $50.4 million (-69 cents), a year ago. Revenue fell 22 percent to less than $160 million.

The results included a $96.1 million gain from sale of the company’s power control systems business, although the gain was offset by $45 million charge related to settlement of a securities class action litigation.

The company forecast first quarter revenue of $165 million to $175 million. Analysts surveyed by Thomson Reuters on average expect less than $154 million in revenue.

“The strong momentum we experienced in the June quarter continues in the September quarter,” Executive Officer Oleg Khaykin said in a statement.

Prior to the announcement, closed up 8 cents, or less than 1 percent, to $17.04 on the New York Stock Exchange.