| **UNITED                STATES**                      |
|-------------------------------------------------------|
| **SECURITIES                AND EXCHANGE COMMISSION** |
| **Washington,                D.C. 20549**             |
| **FORM                10-K**                          |

| (MARK                ONE)                                                            |
|--------------------------------------------------------------------------------------|
| (x)                                                                                  | Annual                Report Pursuant to Section 13 or 15(d) of the Securities Exchange                Act of                1934 (Fee Required)** **For                the fiscal year ended April 1, 2006 |
| or                                                                                   |
| (                )                                                                   | Transition                Report Pursuant to Section 13 or 15(d) of the Securities and Exchange                Act                of 1934 For the transition period from _______ to                ________ |
|  **Commission                File No. 0-12718**                                 |
|                                                                                 |
| **SUPERTEX,                INC.**                                                    |
| (Exact                name of Registrant as specified in its                charter) |

| **                                                                        California**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | **                                                              94-2328535** |
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| (State                or other jurisdiction of incorporation or organization)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                        (I.R.S. Employer Identification No.)                                                                                                                     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| **1235                Bordeaux Drive, Sunnyvale, California 94089**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| (Address                of principal executive offices)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| Registrant's                Telephone Number, Including Area Code: **(408)                222-8888**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| Securities                registered pursuant to Section 12(b) of the Act: **None**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| Securities                registered pursuant to Section 12(g) of the Act:**Common Stock**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| Indicate                by check mark if the registrant is a well-known seasoned issuer,                as                defined in Rule 405 of the Securities Act. Yes o                No                x                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| Indicate                by check mark if the registrant is not required to file reports pursuant                to Section 13 of Section 15(d) of the Act. Yes o                No                x                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| Indicate                by check mark whether the Registrant (1) has filed all reports required                to                be filed by Section 13 or 15(d) of the Securities Exchange Act of                1934                during the preceding 12 months (or for such shorter period that the                Registrant was required to file such reports), and (2) has been subject                to                such filing requirements for the past 90 days.** **Yes                x                No                o** **** **** **                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| Indicate                by check mark if disclosure of delinquent filers pursuant to Item                405 of                Regulation S-K (Sec. 229.405 of this chapter) is not contained herein,                and                will not be contained, to the best of registrant’s knowledge, in                definitive proxy or information statements incorporated by reference                in                Part III of this Form 10-K or any amendment to this Form 10-K.                o                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| Indicate                by check mark whether the registrant is an accelerated filer (as                defined                in Rule 12b-2 of the Act). Check one.Large                accelerated filer o                Accelerated filer x                Non-accelerated filer o                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| As                  of October 1, 2005, the last business day of the registrant’s most                  recently completed second fiscal quarter, there were 13,263,826                  shares of                  the registrant’s common stock outstanding, and the aggregate market value                  of such shares held by non-affiliates of the registrant was $301,414,225                  based on the closing price reported on the NASDAQ National Market                  on                  October 1, 2005. Shares of common stock held by officers, directors                  and                  other persons who may be deemed “affiliates” of the Registrant have been                  excluded from this computation. This determination of affiliate                  status is                  not necessarily a conclusive determination for other purposes.                  The total                  number of shares outstanding of the Registrant's common stock as                  of June                  12, 2006, was 13,676,295. |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| **Documents                Incorporated by Reference:**                Part III incorporates by reference portions of the Company's definitive                proxy statement for the Annual Meeting of Shareholders to be held                on                August 18, 2006 (the "Proxy Statement").                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| *Exhibit                Index is on Page 63*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| *Total                number of pages is 68*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |

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**SUPERTEX,      INC.**

**ANNUAL      REPORT - FORM 10K**

|                      |                                                                                                                                                                                                                    |  Page No. |
|---------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------|
|                      |                                                                                                                                                                                                                    |           |
|                      |  PART                I                                                                                                                                                                                             |           |
|                      |                                                                                                                                                                                                                    |           |
|  Item 1.        |  Business..............................................................................................................................................................................................            |   1  |
|  Item 1A.       |  Risk              Factors........................................................................................................................................................................................ |  10       |
|  Item 1B.  |  Unresolved Staff              Comments............................................................................................................................................................                |  12       |
|  Item 2.        |  Properties............................................................................................................................................................................................            |  12       |
|  Item 3.        |  Legal              Proceedings.............................................................................................................................................................................       |  13       |
|  Item 4.        |  Submission of Matters to a Vote of              Security              Holders.................................................................................................................                    |  13       |
|                      |                                                                                                                                                                                                                    |           |

|                Item                5. |                 Market                for Registrant's Common Equity Related Shareholder Matters and Issuer                Repurchases of Equity Securities.....                                         |  14 |
|--------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------|
| Item 6.                               |  Selected Financial              Data.....................................................................................................................................................................    |  16 |
| Item 7.                               |  Management's Discussion and Analysis              of              Financial Condition and Results of              Operations..............................................                                   |  17 |
| Item 7A.                                   |  Quantitative and Qualitative              Disclosures about Market              Risk....................................................................................................                     |  32 |
| Item 8.                               |  Financial Statements and Supplementary              Data............................................................................................................................                         |  33 |
| Item 9.                               |  Changes in and Disagreements with              Accountants on Accounting and Financial              Disclosure.............................................                                                  |  33 |
| Item 9A.                              |  Controls and              Procedures..................................................................................................................................................................       |  33 |
| Item 9B.                              |  Other              Information.............................................................................................................................................................................. |  34 |

|  Item 10. |  Directors and Executive Officers of              the              Registrant......................................................................................................................    |  35 |
|---------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------|
|  Item 11. |  Executive              Compensation.................................................................................................................................................................. |  35 |
|  Item 12. |  Security Ownership of Certain              Beneficial Owners and Management and Related Stockholder              Matters............................                                                  |  35 |
|  Item 13. |  Certain Relationships and Related              Transactions.........................................................................................................................                  |  35 |
|  Item 14. |  Principal Accountant Fees and              Services......................................................................................................................................        |  36 |

|  Item 15.  |  Exhibits............................................................................................................................................................................................... |  36 |
|----------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------|
|                 |                                                                                                                                                                                                          |     |
|                 |                                                                                                                                                                                                          |     |
|  Signatures     | ...........................................................................................................................................................                                                   |  38 |

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**PART      I**

**Item      1. Business**

*This        Annual Report on Form 10-K includes forward-looking statements. These        forward-looking statements are not historical facts, and are based on current        expectations, estimates, and projections about our industry, our beliefs,        our        assumptions, and our goals and objectives. Words such as "anticipates,"        "expects," "intends," "plans," "believes," "seeks," and "estimates, " and        variations of these words and similar expressions, are intended to identify        forward-looking statements. Examples of the kinds of forward-looking statements        in this report include statements regarding the following: (1) we expect        to step        up our research and development efforts and have a new record for us of more        than forty new product introductions during fiscal 2007; (2) our expectation        that our wafer fabrication facility (fab) will fulfill our wafer manufacturing        capacity needs including from our projected increase in business in fiscal        2007;        (3) our belief that our current backlog will be shipped in fiscal 2007; (4)        our        belief that our patents may have value and may be useful for cross-licensing;        (5) our belief that our position as a leading supplier in our targeted markets        can only be maintained through continuous investments in R&D; (6) our        anticipation that we will not pay dividends in the near term;, (7) our plan        to        continue R&D spending as a percentage of net sales at its current level of        around 17%; (8)*
*our        product strategies, including to focus on a stronger standard product line        as        opposed to a mix of standard and custom products and to further our strategic        marketing activities as evidence by our creation of the office of Vice President        of Marketing; (9) our belief that our continued growth depends in part on        our        ability to attract and retain highly skilled employees; (10) that available        funds and cash generated from operations will be sufficient to meet our working        capital and capital expenditure requirements through the end of fiscal 2007;        (11) that we expect to spend approximately $5,541,000 for capital acquisitions        in fiscal year 2007; (12) that the fair value of our investment portfolio        would        not be significantly impacted by changes in interest rates due to the short        maturities of our investments; (13)*
*we        expect SG&A expenses to increase in absolute dollars as the Company expands        its sales and marketing presence worldwide, and SG&A expenses may fluctuate        as a percentage of net sales; (14) our expectation that the recognition of        additional compensation expense [from FAS 123R] will impact our gross margin        unfavorably; (15) our belief that the medical ultrasound machine market will        continue to grow globally in fiscal 2007 and beyond, that we will be a key        component supplier with our increasing sales of high voltage analog switches        and        multiplexers, high voltage pulser ICs, high-speed MOSFET drivers, and discrete        high voltage FETs, and that with our new products and design wins we may        have        mitigated the seasonality problem; (16) our view that in the Telecom market        increased sales of DC-to-DC converters, long haul ring generators, line        protection devices, hotswap ICs, and high voltage amplifier arrays for the        optical-to-optical telecom market will offset a decline in sales of our older        legacy products; (17) our expectation that revenues will increase in the        Imaging        market due to our increasing sales of EL drivers resulting in part from our        new        generation of inductor-based inverters and our recently introduced inductorless        (no inductor) inverters for space-constrained applications, which will        allow us greater market penetration in the watch and MP3 player markets where        space is limited; (18) our view that the current Other market category, which        includes LED driver IC’s for lighting, and backlighting in LCD TVs, should        see material product revenue in fiscal 2007; and (19) our expectation that        we        will release new products for and will consider our LED driver IC family        of        products to be a fourth market during fiscal 2007. These statements are only        predictions, are not guarantees, of future performance, and are subject to        risks, uncertainties, and other factors, some of which are beyond our control        and are difficult to predict, and could cause actual results to differ        materially from those expressed or forecasted in the forward-looking statements.        These risks and uncertainties include those described in Item 1A “Risk Factors”and elsewhere in this report, as well as the risks (1) that our patents may        not        have material value and that there may not be a market to cross-license them,        (2) that there may be alternative ways for us to maintain our competitive        position than through investments in R&D, that these alternatives may cost        us less money or be more effective than investments in R&D, that our        investments in R&D may not result in new products, and that even if our        investments in R&D result in new products, these products may not enable us        to maintain our competitive position, (3) that we will not obtain continued        growth despite hiring highly skilled employees, (4) that we will not generate        enough cash from operations to meet our cash and working capital requirements        through the end of fiscal 2007, (5) that we need to spend more on capital        acquisitions than anticipated, or that we overestimate or underestimate our        need        for capital acquisition, (6) that changes in short-term interest rates are        significant enough to affect our investment portfolio,(7) that our customers        and        potential customers will not design our devices into their products or their        products containing our devices will not have the demand we anticipate, or        competitors will design products in our niche and drive down our prices and        gross margins, and (9) that our newly introduced products will not be widely        adopted so that they do not generate substantial revenue. Except as required        by        law, we undertake no obligation to update any forward-looking statement,        whether        as a result of new information, future events, or        otherwise.*

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**Products      and Markets**

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| **Markets,                Products and Strategies** |
|-----------------------------------------------------|
| **Markets**                                         | **Market                Sub-Segment** | **Products** | **                       Strategies** |
| **Imaging**                                         | Flat                panel displays | HV                Drivers for new Display Technologies: FED & EL |                        Partnering, proprietary and custom |
| Backlighting                                        | EL                Drivers |         Custom                and proprietary, Leadership |
| Printers                                            | HV                Drivers for Non-impact |         Custom                and proprietary, Leadership |
| **Medical**                                         | Ultrasound                Imaging | 3rd                Gen. MUX., HV Pulsers, Beam Former, FET Drivers |                        Custom and proprietary, Leadership |
| **Telecom**                                         | Telecommunication | HV                Ring Generators, Optical MEMS Drivers, HV Switches, HV line protection                devices |                        Custom and proprietary, Leadership |
| Data                communication Hotswap           | Power                Mgmt/Supervisory, Power Sequencers |         Second                source and proprietary |
| **Other**                                           | LED                Lightings | RGB                Backlighting for LCD TVs and MonitorsDrivers                for Traffic Signals, Commercial Signages and Displays, Automotive                LightingGeneral                Illumination |                        Small, reliable, cost-effective                solutions |

*Imaging      Group*

| (1)   | A                family of products for driving EL panels to back-light liquid crystal                displays (LCD) in hand-held instruments, such as watches, monochrome                screens and keypads for cell phones, PDAs, pagers, HPCs, MP3, and                meters.  Supertex is one of the key providers of EL drivers for cell                phones, PDAs, and watches and it has a significant share of this                market.                The Company also offers custom processing service for charge-coupled                devices (CCD) and CMOS imaging                devices. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)   | Interface                products for driving flat panel displays. This product family is                sold to                flat panel manufacturers using electroluminescent (EL), plasma, carbon                nano-tube field emission, vacuum fluorescent, cholesteric LCD,                electrophoretic and light emitting diode (LED) technologies; |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3)   | Driver                ICs for driving non-impact printers and plotters, primarily using                inkjet                technologies. The printer product family is used in ink-jet and                electrostatic types of printers and plotters which are mostly high-end                products with full color capability, high resolution and high-speed                outputs. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

*Medical      Electronics Group*

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*Telecommunications      (Telecom)/Data Communication (Datacom) Group*

*Other*

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**Research      and Development**

**Manufacturing**

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**Environmental      Laws**

**Marketing      and Sales**

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**Seasonality**

**Backlog**

**Competition**

**Patents      and Licenses**

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**Employees**

**Executive      Officers of the Company**

| **Name**                           | **Position                with the Company**                                  | **Age** | **Officer                Since** |
|------------------------------------|-------------------------------------------------------------------------------|---------|----------------------------------|
| Henry                C. Pao        | President,                Chief Executive Officer and Chief Financial Officer | 68      | 1976                             |
| Benedict                C. K. Choy | Senior                Vice President, Technology Development                  | 60      | 1976                             |
| William                P. Ingram   | Vice                President, Wafer Fab Operations                           | 58      | 1999                             |
| Franklin                Gonzalez   | Vice                President, Process Technology                             | 55      | 1999                             |
| Michael                Lee         | Vice                President, I.C. Design                                    | 51      | 1999                             |
| Dilip                Kapur         | Vice                President, Standard Products                              | 57      | 2000                             |
| William                Petersen    | Vice                President, Worldwide Sales                                | 53      | 2001                             |
| Ahmed                Masood        | Vice                President, Marketing                                      | 45      | 2006                             |
| Michael                Tsang       | Vice                President, Standard Products                              | 47      | 2006                             |

***Henry      C. Pao***

***Benedict      C. K. Choy***

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***William      P. Ingram***

***Franklin      Gonzalez***

***Michael      Lee***

***Dilip      Kapur***

***William      Petersen***

***Ahmed      Masood***
** **

***Michael      Tsang***

**Available      Information**

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**Item      1A. Risk Factors**

**Factors      Which May Affect Operating Results**

| ·   | We                have focused our product offerings primarily on niche markets which                leverage our capabilities and in which we believe we have dominance                because we are the technology enabler for our customers. We attempt                to                choose markets which are sizable enough to be worth pursuing but                which are                not large enough to attract fierce competition. These markets could                grow                sufficiently to attract increased competition or else competitors                could                enter due to happenstance or downturns elsewhere. In addition, our                niche                market might be more susceptible to shrinkage than more diverse markets,                due to their concentration on a few product                offerings. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | We                work with our customers to develop products which they will design                into                their systems. Even if we do achieve a design win, the customer’s system                may never go into production or the production may be smaller than                we had                anticipated. Although we attempt to develop products which will be                useful                for multiple customers, we may misjudge the market and develop a                product                which maybe useful for only very few                customers. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | We                are dependent upon one fab which we own and operate. Were this fab                to                become unable to meet our needs for causes such as, obsolescence                due to                process technology changes, our ability to produce our products would                be                adversely affected. In addition, we could encounter difficulties                in                operating our fab, such as contaminants in the air or defects in                equipment, which could affect yields and production. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | We                have several competitors that are substantially larger and could                bring to                bear substantially more resources in our niche markets. We have been                able                to maintain profitable margins in part because of our dominance of                most of                our niche markets. Increased competition could cause our margins                to                decrease. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Our                gross margins may fluctuate depending on many factors, including,                but not                limited to, our product mix, competitive pricing dynamics, product                yields,                various manufacturing cost, plant utility, provisions for excess                and                obsolete inventory, and absorption of manufacturing                overhead. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Henry                Pao, a director of and the President and CEO of the Company, along                with                Mr. Pao’s father and brother, collectively own greater than                22% of                our outstanding stock. They have no agreement among themselves to                act                together with respect to the Company or their stockholdings. However,                were                they to act in concert, they would be our largest beneficial shareholder                and would have an ability to elect one or more directors, to direct                management, and to delay or prevent a change in control. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| ·   | Our                operations may be interrupted and our business would be harmed in                the                event of an earthquake, terrorist act, and other disasters. Our principal                executive offices, our fab facility, and major suppliers are located                in                areas that have been subject to severe earthquakes. In the event                of an                earthquake, we and/or our major suppliers may be temporarily unable                to                continue operations and may suffer significant property damage. Any                such                interruption in our ability or that of our major suppliers to continue                operations at our facilities could delay the development and shipment                of                our products. Like other U.S. companies, our business and operating                results are subject to uncertainties arising out of the economic                consequences of current and potential military actions or additional                terrorist activities and associated political instability, and the                impact                of heightened security concerns on domestic and international travel                and                commerce. Such uncertainties could also lead to delays or cancellations                of                customer orders, a general decrease in corporate spending or our                inability                to effectively market and sell our products. Any of these results                could                substantially harm our business and results of operations, causing                a                decrease in our revenues. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | We                sell a substantial amount of our products internationally. International                sales represents 63%, 44% and 43% of net sales, for fiscal years                2006,                2005 and 2004, respectively. We expect our international sales to                continue                to account for a significant portion of our total sales. We also                package                and test most of our products abroad. Problems with foreign economies,                political turmoil, wars, epidemics, fluctuations in currency exchange                rate, increased freight costs, interruptions in air transportation,                and                generally longer receivable collection period. These adverse conditions                could disrupt our business and increase our operating                expenses. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | A                significant portion of our sales is from a small number of customers                and the loss of the one of these customers or failure to collect                a                receivable from them could adversely affect our operations and financial                position. In fiscal 2006, two of our customers, Multi-Fineline, a                contract                manufacturer and YEL, a distributor of our products accounted for                13% and                12% of our net sales, respectively.  We estimate that approximately                90% of the combined sales to Multi-Fineline and YEL were subsequently                sold                to one end-user customer, a major communication equipment company.                 We do not have a long-term distributorship agreement with any of                our                distributors. Normal terms and conditions of sale apply, which include                a                60-day notice of cancellation and charges for work-in-process for                cancellations less than 60 days from shipment. While we have maintained                a                good relationship with our significant customers and distributors,                deterioration in that relationship could materially and adversely                affect                our business and financial results. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | We                are dependent upon continued innovation by our engineers. The competition                for engineers with relevant experience is extremely intense in the                Silicon                Valley, where most of our engineers are located. We must compete                in terms                of salary, benefits, and working conditions with many start-ups which                can                offer more equity. We established an IC Design Center in Hong Kong                in                fiscal 2001 where competition for qualified engineers is not as intense                as                that in Silicon Valley. However, a majority of our process technology                and                product innovation activities remains in our Sunnyvale and San Jose                offices. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | We                operate a fab in San Jose, California at which we use various chemicals                and solvents which are regulated by various environmental agencies.                We                cooperate and work with these agencies to comply with these regulations.                Should we nonetheless inadvertently contaminate the soil or ground                water,                or should the previous operator of the fab have done so, we may be                responsible for significant costs to remediate the situation. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | We                are dependent upon the continued service of several of our key management                and technical personnel. The loss of the services of one or more                of our                engineers, executive officers and other key personnel or our inability                to                recruit replacements for, or to attract, retain and motivate these                individuals would be harmful to our business. We do not have long-term                employment contracts with our                employees. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| ·   | Our                success depends upon our ability to protect our intellectual property,                including patents, trade secrets, and know-how, and to continue our                technological innovation. We cannot assure that the steps we have                taken to                protect our intellectual property will be adequate to prevent                misappropriation or that others will not develop competitive technologies                or products. The failure to obtain necessary licenses or other rights                could cause us to lose market share and harm our                business. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | The                Sarbanes-Oxley Act of 2002 required us to change or supplement some                of our                corporate governance and securities disclosure and compliance practices.                The SEC and NASDAQ have revised, and continue to revise their regulations                and listing standards. These developments have increased, and may                continue                to increase, our legal compliance and financial reporting costs.                These                developments also may make it more difficult and more expensive for                us to                obtain director and officer liability insurance, and we may be required                to                accept reduced coverage or incur substantially higher costs to obtain                coverage. This, in turn, could make it more difficult for us to attract                and retain qualified members of our board of directors, or qualified                executive officers. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | We                are subject to taxation by domestic and foreign taxing authorities.                Our                business is subject to the application of multiple, and sometimes,                conflicting tax laws and regulations. The application of tax laws                is                subject to legal and factual interpretation, judgment and uncertainty,                and                tax laws themselves are subject to change. Consequently, taxing                authorities from various jurisdictions may impose tax assessments                or                judgments against us that could result in a significant change to                earnings                related to prior periods, and or an increase in our effective income                tax                rate. We are under review by the IRS for our fiscal 2002 tax return. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Changes                in stock option accounting rules scheduled to go into effect at the                start                of our fiscal 2007 will increase our compensation expense which will                result in lower reported operating results prepared in accordance                with                generally accepted accounting principles. In addition, this pronouncement                (SFAS 123R) may negatively impact our future stock price which could                limit                our ability to utilize broad based employee stock plans to reward                employees and could result in a competitive disadvantage to us in                the                employee marketplace. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Item      1B. Unresolved Staff Comments**

**Item      2. Properties**

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**Item      3. Legal Proceedings**

*** ***

**Item      4. Submission of Matters to a Vote of Security Holders**

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**PART      II**

**Item      5. Market for Registrant's Common Equity and Related Shareholder Matters and      Issuer Repurchases of Equity Securities**

***Market      Information***

|                          |   | **Fiscal                Years Ended**  |
|-------------------------------|--------|---------------------------------------------|
|                          |   | **April                1, 2006**       | **April                2, 2005** |
|                          |   |                                        | **High** |   |   | **Low** |   |   | **High** |   |   | **Low** |   |
| First                Quarter  |   | $                                           | 18.76 |   | $ | 14.26 |   | $ | 16.99 |   | $ | 13.96 |   |
| Second                Quarter |   |                                        | 31.05 |   |   | 17.30 |   |   | 20.15 |   |   | 14.00 |   |
| Third                Quarter  |   |                                        | 45.81 |   |   | 28.06 |   |   | 24.04 |   |   | 19.78 |   |
| Fourth                Quarter |   |                                        | 46.37 |   |   | 29.02 |   |   | 21.31 |   |   | 17.76 |   |

***Securities      authorized for issuance under equity compensation      plans:***

*Employee      Stock Purchase Plan - *

*Stock      Option Plans -*

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|    **Plan                Category**                        | **Number                of Securities to be Issued upon Exercise of Outstanding Options,****Warrants,                and Rights****(a)** | **Weighted-Average                Exercise Price of Outstanding Options, Warrants,****and Rights****(b)** | **Number                of Securities Remaining Available for Future Issuance under Equity                Compensation Plans (Excluding Securities Reflected in****Column (a))****(c)** |
|---------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Equity                compensation plans approved by security holders     | 1,117,219                                                                                                                                | $                           22.78                  | 1,303,797                (1)                                                                                                                                                            |
| Equity                compensation plans not approved by security holders | 0                                                                                                                                        | N/A                                                                                                       | 0                                                                                                                                                                                       |

*(1)      *

*Includes      252,128 shares reserved as of April 1, 2006 for future purchases by employees      through payroll deductions under the Company’s Employee Stock Purchase Plan      described above.*

***Purchases      of Equity Securities by the Issuer and Affiliated      Purchasers***

| **Period**                         |   | **Total                Number of Shares****Purchased****(1)** |   | **Average                Price****Paid                Per Share**                                                    |   | **Total                Number of Shares Purchased as Part of Publicly Announced****Plans                or Programs****(2)** |   | **Maximum                Number of Shares that May Yet be Purchased Under the****Plans                or Programs** |
|------------------------------------|--------|---------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------------|
|                               |   |                                                          |   |                                                                                                                 |   |                                                                                                                         |   |                                                                                                                |
| 05/01/05                - 05/28/05 |   | 53,400                                                        |   | $                 15.60         |   | --                                                                                                                           |   | 798,600                                                                                                             |
| 05/29/05                - 07/02/05 |   | 14,500                                                        |   | 17.04                                                                                                                |   | --                                                                                                                           |   | 784,100                                                                                                             |
| **Total**                          |   | **67,900**                                                    |   | **$                               15.91** |   | **--**                                                                                                                       |   |                                                                                                                |

*(1)*

*Our      current share repurchase program, under which we repurchased these 67,900      shares, has been in place since 1999. We are not certain but do not believe      we      publicly announced this program, although our financial statements have      reflected purchases from time to time under this program as have prior annual      reports on Form 10-K. These 67,900 shares were purchased in open market      transactions.*

*(2)*

*We      adopted a share repurchase program in 1992 authorizing the repurchase of      1,000,000 shares. Our board of directors terminated this program in 1999 after      938,000 shares had been repurchased and adopted a new share repurchase program      at the same time, authorizing the repurchase of 900,000 shares plus the 62,000      shares authorized for repurchase under the 1992 program whose repurchase had      not      been affected. As described in footnote (1), we are not certain but do not      believe that we publicly announced our 1999 repurchase plan. The 1999 repurchase      program has no expiration date, other than, unless extended, when an aggregate      of 962,000 shares have been repurchased. Neither this program nor any other      repurchase program or plan has expired the fiscal year ended April 1, 2006,      nor      has the Company decided to terminate any repurchase plan or program prior to      its      expiration. There are no existing repurchase plans or programs under which      the      Company does not intend to make further repurchases.*

----

**Item      6. Selected Financial Data**

|                                                                              |   |   | **   April                1,** |         |   | **April                2,** |   |   | **April                3,** |   |   | **March                29,** |   |   | **March                30,** |   |
|-----------------------------------------------------------------------------------|--------|--------|-----------------------------------------------|--------------|--------|-----------------------------|--------|--------|-----------------------------|--------|--------|------------------------------|--------|--------|------------------------------|--------|
|                                                                              |   |   | **2006 **                                |    |   | **2005**                    |   |   | **2004**                    |   |   | **2003**                     |   |   | **2002**                     |   |
| **Balance                Sheet Data:***(in                thousands)*        |   |   |                                          |         |   |                        |   |   |                        |   |   |                         |   |   |                         |   |
| Working                capital                                                    |   | $      | 124,443                                       |         | $      | 96,896                      |   | $      | 87,005                      |   | $      | 78,051                       |   | $      | 67,333                       |   |
| Total                assets                                                       |   |   | 156,133                                       |         |   | 126,377                     |   |   | 112,797                     |   |   | 108,671                      |   |   | 103,380                      |   |
| Shareholders’                equity                                         |   |   | 133,424                                       |         |   | 107,095                     |   |   | 97,774                      |   |   | 92,525                       |   |   | 88,096                       |   |
| Cash                and cash equivalents andshort-term                investments |   |   | 110,646                                       |         |   | 88,417                      |   |   | 76,124                      |   |   | 64,876                       |   |   | 52,492                       |   |
| Total                current assets                                               |   |   | 147,152                                       |         |   | 116,178                     |   |   | 102,028                     |   |   | 94,197                       |   |   | 82,617                       |   |
| Total                current liabilities                                          |   |   | 22,709                                        |         |   | 19,282                      |   |   | 15,023                      |   |   | 16,146                       |   |   | 15,284                       |   |

----

|                                                                                                  |   |  **Fiscal                Year Ended** |
|-------------------------------------------------------------------------------------------------------|--------|--------------------------------------------|
|                                                                                                  |   |                                       | **                         April 1,** |   |   | **April                2,** |   |   | **April                3,** |   |   | **March                29,** |   |   | **March                30,** |   |
|                                                                                                  |   |                                       | **2006  ** |   |   | **2005** |   |   | **2004** |   |   | **2003** |   |   | **2002** |   |
| **Statement                of Income Data:***(in                thousands, except per share amounts)* |   |                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                Sales                                                                              |   | $                                          | 80,098 |   | $ | 56,558 |   | $ | 51,394 |   | $ | 54,915 |   | $ | 56,195 |   |
| Costs                and Expenses                                                                     |   |                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Costs                of sales                                                                         |   |                                       | 35,458 |   |   | 27,545 |   |   | 30,938 |   |   | 34,103 |   |   | 33,700 |   |
| Research                and development                                                               |   |                                       | 11,540 |   |   | 9,780 |   |   | 9,570 |   |   | 9,338 |   |   | 11,279 |   |
| Selling,                general and administrative                                                    |   |                                       | 13,568 |   |   | 11,583 |   |   | 9,760 |   |   | 8,722 |   |   | 7,939 |   |
| Income                from operations                                                                 |   |                                       | 19,532 |   |   | 7,650 |   |   | 1,126 |   |   | 2,752 |   |   | 3,277 |   |
| Interest                and Other income                                                              |   |                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest                income                                                                        |   |                                       | 2,959 |   |   | 1,603 |   |   | 1,164 |   |   | 916 |   |   | 1,538 |   |
| Other                income, net                                                                      |   |                                       | 714 |   |   | 306 |   |   | 840 |   |   | 530 |   |   | 1,037 |   |
| Income                before provision for income taxes                                               |   |                                       | 23,205 |   |   | 9,559 |   |   | 3,130 |   |   | 4,198 |   |   | 5,852 |   |
| Provision                for income taxes                                                             |   |                                       | 7,328 |   |   | 3,100 |   |   | 970 |   |   | 1,343 |   |   | 1,990 |   |
| Net                income                                                                             |   | $                                          | 15,877 |   | $ | 6,459 |   | $ | 2,160 |   | $ | 2,855 |   | $ | 3,862 |   |
| Net                income per share:                                                                  |   |                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic                                                                                                 |   | $                                          | 1.19 |   | $ | 0.50 |   | $ | 0.17 |   | $ | 0.23 |   | $ | 0.31 |   |
| Diluted                                                                                               |   | $                                          | 1.15 |   | $ | 0.49 |   | $ | 0.17 |   | $ | 0.22 |   | $ | 0.30 |   |
| Shares                used in per share computation:                                                  |   |                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic                                                                                                 |   |                                       | 13,313 |   |   | 12,985 |   |   | 12,758 |   |   | 12,598 |   |   | 12,443 |   |
| Diluted                                                                                               |   |                                       | 13,770 |   |   | 13,239 |   |   | 13,051 |   |   | 12,757 |   |   | 12,748 |   |

**Item      7. Management's Discussion and Analysis of Financial Condition and Results      of      Operations**

**Overview**

----

|                                                    | **Fiscal                Year Ended** |
|---------------------------------------------------------|--------------------------------------|
|                                                    | **April                1, 2006**     | **April                2, 2005** | **April                3, 2004** |
| Net                sales                                | 100.0%                               | 100.0% | 100.0% |
| Cost                of sales                            | 44.3                                 | 48.7 | 60.2 |
| Research                and development                 | 14.4                                 | 17.3 | 18.6 |
| Selling,                general and administrative      | 16.9                                 | 20.5 | 19.0 |
| Income                from operations                   | 24.4                                 | 13.5 | 2.2 |
| Interest                and Other income                |                                 |   |   |
| Interest                income                          | 3.7                                  | 2.8 | 2.3 |
| Other                income, net                        | 0.9                                  | 0.6 | 1.6 |
| Income                before provision for income taxes | 29.0                                 | 16.9 | 6.1 |
| Provision                for income taxes               | 9.2                                  | 5.5 | 1.9 |
|  Net                income                         | 19.8%                                | 11.4% | 4.2% |

**Critical      Accounting Policies and Estimates**

*Revenue      Recognition*

----

*Sales      Returns and Other Allowances*

*Allowance      for Doubtful Accounts*

*Inventory      Valuation*

----

*Accounting      for Investments and Consolidation*

*Impairment      of Long-Lived Assets*

----

*Accounting      for Income Taxes*

**Recent      Developments**

----

**Results      of Operations**

***Fiscal      2006 vs. Fiscal 2005***

***Net      Sales***

*(in      thousands)*

|                               |   | **Fiscal                Years Ended** |   | **Year-Over-**                   |   |
|------------------------------------|--------|---------------------------------------|--------|----------------------------------|--------|
| **Markets**                        |   | **April                1, 2006**      |   | **April                2, 2005** |   | **Year                Change** |   |
| Imaging                            |   | $                                     | 34,366 |                             |   | 43 | % |   |   $ | 16,069 |   |   | 28 | % |   | 114 | % |
| Medical                Electronics |   |                                  | 27,468 |                             |   | 34 | % |   |   | 21,813 |   |   | 39 | % |   | 26 | % |
| Telecom                            |   |                                  | 13,920 |                             |   | 18 | % |   |   | 12,802 |   |   | 23 | % |   | 9 | % |
| Other                              |   |                                  | 4,344  |                             |   | 5 | % |   |   | 5,874 |   |   | 10 | % |   | -26 | % |
| Net                Sales           |   | $                                     | 80,098 |                             |   | 100 | % |   |   $ | 56,558 |   |   | 100 | % |   | 42 | % |

----

|                                    |   | **Fiscal                Years Ended** |   | **Year-Over-**                   |   |
|-----------------------------------------|--------|---------------------------------------|--------|----------------------------------|--------|
| *(Dollars                in thousands)* |   | **April                1, 2006**      |   | **April                2, 2005** |   | **Year                Change** |   |
| Asia                (excl. Japan)       |   | $                                     | 34,252 |                             |   | 43 | % |   |   $ | 11,211 |   |   | 20 | % |   | 206 | % |
| United                States            |   |                                  | 29,802 |                             |   | 37 | % |   |   | 31,796 |   |   | 56 | % |   | -6 | % |
| Japan                                   |   |                                  | 7,284  |                             |   | 9 | % |   |   | 6,673 |   |   | 12 | % |   | 9 | % |
| Europe                                  |   |                                  | 6,387  |                             |   | 8 | % |   |   | 5,133 |   |   | 9 | % |   | 24 | % |
| Other                                   |   |                                  | 2,373  |                             |   | 3 | % |   |   | 1,745 |   |   | 3 | % |   | 36 | % |
| Total                Net Sales          |   | $                                     | 80,098 |                             |   | 100 | % |   |   $ | 56,558 |   |   | 100 | % |   | 42 | % |

***Gross      Margin***

----

|                                                                                                                                                        | **Fiscal                Years Ended**                                                          |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------|
| *(Dollars                in thousands)*                                                                                                                     | **April                1, 2006**                                                               | **April                2, 2005** |
| Gross                Margin Percentage                                                                                                                      | 56%                                                                                            | 51% |
| *Included                in Gross Margin Percentage Above*Gross                Margin Benefit from Sale of Previously Written Down                Inventory | $                            1,136 | $                               990 |
| Percentage                of Net Sales                                                                                                                      | 1.4%                                                                                           | 1.8% |

***Research      and Development***

|                                           | **Fiscal                Years Ended**                                               | **Year-Over-**                                                                                 |
|------------------------------------------------|-------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------|
| *(Dollars                in thousands)*        | **April                1, 2006**                                                    | **April                2, 2005**                                                               | **Year                Change** |
| R                & D Expenses              | $                          11,540 | $                            9,780 | 18% |
| * *Percentage                of Net Sales | 14%                                                                                 | 17%                                                                                            |   |

***Selling,      General and Administrative (SG&A)***

|                                    | **Fiscal                Years Ended**                                               | **Year-Over-**                                                                      |
|-----------------------------------------|-------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------|
| *(Dollars                in thousands)* | **April                1, 2006**                                                    | **April                2, 2005**                                                    | **Year                Change** |
| SG&A                Expenses        | $                          13,568 | $                          11,583 | 17% |
| Percentage                of Net Sales  | 17%                                                                                 | 20%                                                                                 |   |

----

***Interest      Income and Other Income, Net***

|                                                 | **Fiscal                Years Ended**                                                          | **Year-Over-**                                                                                 |
|------------------------------------------------------|------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------|
| *(Dollars                in thousands)*              | **April                1, 2006**                                                               | **April                2, 2005**                                                               | **Year                Change** |
| Interest                Income and Other Income, Net | $                            3,673 | $                            1,909 | 93% |
| Percentage                of Net Sales               | 5%                                                                                             | 3%                                                                                             |   |

***Interest      Income***

***Other      Income, Net***

***Provision      for Income***
***Taxes***

***Fiscal      2005 vs. Fiscal 2004***

***Net      Sales***

----

*(in      thousands)*

| **                                                         Fiscal Years Ended** | **     Year-Over-** |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------|
| Markets                                                                                                                                                                                                                                                                                      |                                         | **April                2, 2005** |   | **April                3, 2004** | **Year                Change** |
| Medical                Electronics                                                                                                                                                                                                                                                           |                                         |   | $                  21,813 |   |   | 39 | % |   |   | $   18,024 |   |   | 35 | % | 21% |
| Imaging                                                                                                                                                                                                                                                                                      |                                         |   | 16,069 |   |   | 28 | % |   |   | 17,540 |   |   | 34 | % | -8% |
| Telecom                                                                                                                                                                                                                                                                                      |                                         |   | 12,802 |   |   | 23 | % |   |   | 11,541 |   |   | 23 | % | 11% |
| Other                                                                                                                                                                                                                                                                                        |                                         |   | 5,874 |   |   | 10 | % |   |   | 4,289 |   |   | 8 | % | 37% |
| Net                Sales                                                                                                                                                                                                                                                                     |                                         |   | $                  56,558 |   |   | 100 | % |   |   | $   51,394 |   |   | 100 | % | 10% |

|                                    |   | **Fiscal                Years Ended** |                                      | **Year-Over-**                   |   |
|-----------------------------------------|--------|---------------------------------------|-------------------------------------------|----------------------------------|--------|
| *(Dollars                in thousands)* |   | **April                2, 2005**      |                                      | **April                3, 2004** |   | **Year                Change** |   |
| United                States            |   |                                  | $                   31,796 |                             |   | 56 | % |   |   | $                   29,072 |   |   | 57 | % |   | 9 | % |
| Europe                                  |   |                                  | 5,133                                     |                             |   | 9 | % |   |   | 5,773 |   |   | 11 | % |   | -11 | % |
| Japan                                   |   |                                  | 6,673                                     |                             |   | 12 | % |   |   | 5,474 |   |   | 11 | % |   | 22 | % |
| Asia                (excl. Japan)       |   |                                  | 11,211                                    |                             |   | 20 | % |   |   | 9,481 |   |   | 18 | % |   | 18 | % |
| Other                                   |   |                                  | 1,745                                     |                             |   | 3 | % |   |   | 1,594 |   |   | 3 | % |   | 9 | % |
| Total                Net Sales          |   |                                  | $                   56,558 |                             |   | 100 | % |   |   | $                   51,394 |   |   | 100 | % |   | 10 | % |

----

***Gross      Margin***

|                                                                                                                                                        | **Fiscal                Years Ended**                                                                    |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------|
| *(Dollars                in thousands)*                                                                                                                     | **April                2, 2005**                                                                         | **April                3, 2004** |
| Gross                Margin Percentage                                                                                                                      | 51%                                                                                                      | 40% |
| *Included                in Gross Margin Percentage Above*Gross                Margin Benefit from Sale of Previously Written Down                Inventory | $                              990 | $                              820 |
| Percentage                of Net Sales                                                                                                                      | 2%                                                                                                       | 2% |

***Research      and Development***

|                                           | **Fiscal                Years Ended**                                                          | **Year-Over-**                                                                           |
|------------------------------------------------|------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------|
| *(Dollars                in thousands)*        | **April                2, 2005**                                                               | **April                3, 2004**                                                         | **Year                Change** |
| R                & D Expenses              | $                            9,780 | $                           9,570 | 2% |
| * *Percentage                of Net Sales | 17%                                                                                            | 19%                                                                                      |   |

***Selling,      General and Administrative***
**      (SG&A)**

|                                    | **Fiscal                Years Ended**                                               | **Year-Over-**                                                                                 |
|-----------------------------------------|-------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------|
| *(Dollars                in thousands)* | **April                2, 2005**                                                    | **April                3, 2004**                                                               | **Year                Change** |
| SG&A                Expenses        | $                          11,583 | $                            9,760 | 19% |
| Percentage                of Net Sales  | 20%                                                                                 | 19%                                                                                            |   |

----

***Interest      Income and Other Income, Net***

|                                                 | **Fiscal                Years Ended**                                                          | **Year-Over-**                                                                                 |
|------------------------------------------------------|------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------|
| *(Dollars                in thousands)*              | **April                2, 2005**                                                               | **April                3, 2004**                                                               | **Year                Change** |
| Interest                Income and Other Income, Net | $                            1,909 | $                            2,004 | -5% |
| Percentage                of Net Sales               | 3%                                                                                             | 4%                                                                                             |   |

***Interest      Income***

***Other      Income, Net***

***Provision      for Income Taxes***

**Financial      Condition**

**Overview**

----

**Liquidity      and Capital Resources**

***Fiscal      2006***

*,*
* *

***Fiscal      2005***

----

**Off-Balance      Sheet Arrangements**

----

**Contractual      Obligations**

*(in      thousands):*

|                                              |   | **Payment                Due by Year** |
|---------------------------------------------------|--------|----------------------------------------|
| **Contractual                Obligations**        |   |                                   | **Total** |   |   | **Less                than 1 Year** |   |   | **2-3                Years** |   |   | **4-5                Years** |   |   | **After                5 Years** |   |
| Operating                lease obligations (1)    |   | $                                      | 4,734 |   | $ | 1,026 |   | $ | 1,743 |   | $ | 1,885 |   | $ | 80 |   |
| Purchase                obligations (2)           |   |                                   | 8,720 |   |   | 8,681 |   |   | 39 |   |   | -- |   |   | -- |   |
| Total                Contractual Cash Obligations |   | **$**                                  | **13,454** |   | **$** | **9,707** |   | **$** | **1,782** |   | **$** | **1,885** |   | **$** | **80** |   |

*(1)      We lease facilities under non-cancelable lease agreements expiring at various      times through April 2011. Rental expense, net of sublease for fiscal 2006      amounted to $1,032,000.*

*(2)      To obtain favorable pricing and resource commitment, we commit to volume      purchase to suppliers of our manufacturing materials.*

**Common      Stock Repurchases**

|                                        | **Fiscal                Years Ended**                                                          |
|---------------------------------------------|------------------------------------------------------------------------------------------------|
|                                        | **April                1, 2006**                                                               | **April                2, 2005** |
| Number                of shares repurchased | 67,900                                                                                         | 26,400 |
| Cost                of shares repurchased   | $                     1,080,000                                       | $                        414,000 |
| Average                price per share      | $                            15.91 | $                            15.68 |

**Recent      Accounting Pronouncements**

*Share-Based      Payment”*
*Accounting      for Stock Issued to Employees”*

*Accounting      Changes and Error Corrections”*
*Accounting      Changes”*
*Reporting      Accounting Changes in Interim Financial Statements”*

----

*The      Meaning of Other-Than-Temporary Impairment and Its Application to Certain      Investments”*

**Item      7A. Quantitative and Qualitative Disclosures About Market      Risk**

**Interest      Rate Risk**

|                                          |                                                                                |                                                                                |   | **Weighted                Average Interest Rate for the Fiscal Year                Ended** |
|-----------------------------------------------|-------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------|
| *(Dollars                in thousands)*       | **April                1, 2006**                                                    | **April                2, 2005**                                                    |   | **April                1, 2006**                                                           | **April                2, 2005** |
| Available-for-sale                securities: |                                                                                |                                                                                |   |                                                                                       |   |
| Tax-exempt                securities          | $                          76,200 | $                          44,050 |   | 3.5%                                                                                       | 2.1% |

**Foreign      Currency Exchange Risks**

----

**Item      8. Financial Statements and Supplementary Data**

*(in      thousands, except per share amounts)*

|                                                      |   | **Quarters                Ended** |
|-----------------------------------------------------------|--------|-----------------------------------|
|                                                      |   |                              | **                   Apr 1,** |   |   | **Dec                31,** |   |   | **Oct                1,** |   |   | **Jul                2,** |   |   | **Apr                2,** |   |   | **Jan                1,** |   |   | **Oct                2,** |   |   | **Jul                3,** |   |
|                                                      |   |                              | **2006** |   |   | **2005** |   |   | **2005** |   |   | **2005** |   |   | **2005** |   |   | **2005** |   |   | **2004** |   |   | **2004** |   |
| *(Unaudited)*                                             |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| **Statement                of Income Data:**              |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                sales                                  |   | $                                 | 23,964 |   | $ | 19,915 |   | $ | 20,226 |   | $ | 15,993 |   | $ | 11,843 |   | $ | 14,925 |   | $ | 15,548 |   | $ | 14,242 |   |
| Costs                of sales                        |   |                              | 10,647 |   |   | 9,161 |   |   | 8,844 |   |   | 6,806 |   |   | 6,002 |   |   | 7,043 |   |   | 7,431 |   |   | 7,069 |   |
| Gross                profit                               |   |                              | 13,317 |   |   | 10,754 |   |   | 11,382 |   |   | 9,187 |   |   | 5,841 |   |   | 7,882 |   |   | 8,117 |   |   | 7,173 |   |
| Income                from operations                |   |                              | 6,258 |   |   | 4,498 |   |   | 5,536 |   |   | 3,240 |   |   | 120 |   |   | 2,747 |   |   | 2,482 |   |   | 2,301 |   |
| Income                  before provision for income taxes |   |                              | 7,424 |   |   | 5,397 |   |   | 6,238 |   |   | 4,146 |   |   | 565 |   |   | 3,439 |   |   | 2,859 |   |   | 2,696 |   |
| Net                income                            |   | $                                 | 5,122 |   | $ | 3,689 |   | $ | 4,247 |   | $ | 2,819 |   | $ | 433 |   | $ | 2,250 |   | $ | 1,916 |   | $ | 1,860 |   |
| Net                income per share                       |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic                                                |   | $                                 | 0.38 |   | $ | 0.27 |   | $ | 0.32 |   | $ | 0.22 |   | $ | 0.03 |   | $ | 0.17 |   | $ | 0.15 |   | $ | 0.14 |   |
| Diluted                                              |   | $                                 | 0.37 |   | $ | 0.26 |   | $ | 0.31 |   | $ | 0.21 |   | $ | 0.03 |   | $ | 0.17 |   | $ | 0.15 |   | $ | 0.14 |   |

**Item      9. Changes in and Disagreements with Accountants on Accounting and Financial      Disclosure**

**Item      **
**9A.      Controls and Procedures**

*Evaluation      of Disclosure Controls and Procedures*

*Disclosure      Controls and Procedures*
*.      *

*Limitations      on the Effectiveness of Disclosure Controls*
*.      *

*Evaluation      of Disclosure Controls and Procedures. *

----

*Management’s      Annual Report on Internal Control Over Financial Reporting: *

*Internal      Control-Integrated Framework. *

*      Attestation Report of the Registered Public Accounting Firm.*

*Changes      in Internal Control over Financial Reporting. *

* *
subsystems,      and data, improved documentation of testing financial application changes,      further segregated duties in critical functional areas, and strengthened control      procedures and practices over financial reporting processes.

**Item      **
**9B.      Other Information.**

----

**PART      III**

**Item      10. Directors and Executive Officers of the Registrant**

**Item      11. Executive Compensation**

**Item      12. Security Ownership of Certain Beneficial Owners and Management and Related      Stockholder Matters**

**Item      13. Certain Relationships and Related Transactions**

----

**Item      14. Principal Accountant Fees and Services**

**PART      IV**

**Item      15. Exhibits **

| 2. | Consolidated                Financial Statements: |
|----|---------------------------------------------------|

----

----

**SIGNATURES**

**                    SUPERTEX,      INC.**

**POWER      OF ATTORNEY**

**Signature**
**Title**
**Date**

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**REPORT      OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

*Management’s      Annual Report on Internal Control Over Financial Reporting*
*Internal      Control - Integrated Framework*
*Internal      Control - Integrated Framework*

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**SUPERTEX,      INC.**

**CONSOLIDATED      BALANCE SHEETS**

*(in      thousands)*

|                                                                                                                                                                                                                                                                   |   |   | **April                1, 2006** |   |   | **April                2, 2005** |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|----------------------------------|--------|--------|----------------------------------|--------|
| ASSETS                                                                                                                                                                                                                                                                 |   |   |                             |   |   |                             |   |
| Current                Assets:                                                                                                                                                                                                                                         |   |   |                             |   |   |                             |   |
| Cash                and cash equivalents…………………………………………………............                                                                              |   | $      | 27,654                           |   | $      | 38,634                           |   |
| Short-term                investments…………………………………………………..................                                                                           |   |   | 82,992                           |   |   | 49,783                           |   |
| Trade                accounts receivable………………………………………………….............                                                                             |   |   | 14,824                           |   |   | 7,898                            |   |
| Inventories………………………………………………………………...................                                                                 |   |   | 12,543                           |   |   | 12,624                           |   |
| Prepaid                expenses and other current assets……………………………….............                                                                                                              |   |   | 1,358                            |   |   | 917                              |   |
| Deferred                income taxes…………………………………………………….................                                                                      |   |   | 7,781                            |   |   | 6,322                            |   |
| Total                current assets……………………………………………………................                                                                        |   |   | 147,152                          |   |   | 116,178                          |   |
| Property,                plant and equipment, net………………………………………………..............                                                                          |   |   | 8,048                            |   |   | 7,992                            |   |
| Other                assets……………………………………………………………………….................                              |   |   | 141                              |   |   | 96                               |   |
| Deferred                income taxes…………………………………………………………….................                                                 |   |   | 792                              |   |   | 2,111                            |   |
|                            Total                assets………………………………….............................................................. |   | $      | 156,133                          |   | $      | 126,377                          |   |
|                                                                                                                                                                                                                                                                   |   |   |                             |   |   |                             |   |
|                                                                                                                                                                                                                                                                   |   |   |                             |   |   |                             |   |
| LIABILITIES                AND SHAREHOLDERS’ EQUITY                                                                                                                                                                                                              |   |   |                             |   |   |                             |   |
| Current                Liabilities:                                                                                                                                                                                                                                    |   |   |                             |   |   |                             |   |
| Trade                accounts payable…………………………………………………….............                                                                         |   | $      | 3,725                            |   | $      | 3,280                            |   |
| Accrued                salaries and employee benefits………………………………….............                                                                                                          |   |   | 11,227                           |   |   | 8,720                            |   |
| Other                accrued liabilities…………………………………………………..................                                                                        |   |   | 1,498                            |   |   | 634                              |   |
| Deferred                revenue………………………………………………………….................                                                             |   |   | 3,566                            |   |   | 3,610                            |   |
| Income                taxes payable………………………………………………………..............                                                                   |   |   | 2,693                            |   |   | 3,038                            |   |
| Total                current liabilities…………………………………………………................                                                                          |   |   | 22,709                           |   |   | 19,282                           |   |
|                                                                                                                                                                                                                                                                   |   |   |                             |   |   |                             |   |
| Commitments                and contingencies (Note 10)                                                                                                                                                                                                                 |   |   |                             |   |   |                             |   |
|                                                                                                                                                                                                                                                                   |   |   |                             |   |   |                             |   |
| Shareholders’                equity:                                                                                                                                                                                                                             |   |   |                             |   |   |                             |   |
| Preferred                stock, no par value -- *10,000                shares authorized, none outstanding*………......................................................................................................                                 |   |   | --                               |   |   | --                               |   |
| Common                stock, no par value -- *30,000                shares authorized;***                  issued and outstanding 13,608 shares(2006) and 13,086 shares                (2005)...**                                                           |   |   | 46,692                           |   |   | 35,343                           |   |
|                                                                                                                                                                                                                                                                   |   |
| Retained                earnings…………………………………………………………................                                                             |   |   | 86,732                           |   |   | 71,752                           |   |
| Total                shareholders' equity…………………………………………….............                                                                                          |   |   | 133,424                          |   |   | 107,095                          |   |
| Total                liabilities and shareholders’                equity……………………............................................                                                                                     |   | $      | 156,133                          |   | $      | 126,377                          |   |

*Notes      to Consolidated Financial Statements*
**.**

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**SUPERTEX,      INC.**

**CONSOLIDATED      STATEMENTS OF INCOME **

*(in      thousands, except per share amounts)*

|                                                                                                                               |   | **Fiscal                Years Ended** |
|------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------|
|                                                                                                                               |   |                                  | ** April                1, 2006** |   |   | **April                2, 2005** |   |   | **April                3, 2004** |   |
| Net                sales……………………………………........ |   | $                                     | 80,098 |   | $ | 56,558 |   | $ | 51,394 |   |
| Cost                and expenses:                                                                                                  |   |                                  |   |   |   |   |   |   |   |   |
| Cost                of sales…………………………….....                     |   |                                  | 35,458 |   |   | 27,545 |   |   | 30,938 |   |
| Research                and development……………....                                                     |   |                                  | 11,540 |   |   | 9,780 |   |   | 9,570 |   |
| Selling,                general and administrative……...                                                                |   |                                  | 13,568 |   |   | 11,583 |   |   | 9,760 |   |
| Total                costs and expenses………..….                                                             |   |                                  | 60,566 |   |   | 48,908 |   |   | 50,268 |   |
| Income                from operations…………………..........                                   |   |                                  | 19,532 |   |   | 7,650 |   |   | 1,126 |   |
| Interest                and Other income:                                                                                          |   |                                  |   |   |   |   |   |   |   |   |
| Interest                income……………………….........                             |   |                                  | 2,959 |   |   | 1,603 |   |   | 1,164 |   |
| Other                income, net…………………….........                                  |   |                                  | 714 |   |   | 306 |   |   | 840 |   |
| Income                before provision for income taxes.......                                                                     |   |                                  | 23,205 |   |   | 9,559 |   |   | 3,130 |   |
| Provision                for income taxes……………….........                                       |   |                                  | 7,328 |   |   | 3,100 |   |   | 970 |   |
| Net                income………………………........                                   |   | $                                     | 15,877 |   | $ | 6,459 |   | $ | 2,160 |   |
|                                                                                                                               |   |                                  |   |   |   |   |   |   |   |   |
| Net                income per share                                                                                                |   |                                  |   |   |   |   |   |   |   |   |
| Basic…………………………………...........                        |   | $                                     | 1.19 |   | $ | 0.50 |   | $ | 0.17 |   |
| Diluted………………………………...........                             |   | $                                     | 1.15 |   | $ | 0.49 |   | $ | 0.17 |   |
| Shares                used in per share computation                                                                                |   |                                  |   |   |   |   |   |   |   |   |
| Basic…………………………………...........                        |   |                                  | 13,313 |   |   | 12,985 |   |   | 12,758 |   |
| Diluted………………………………...........                             |   |                                  | 13,770 |   |   | 13,239 |   |   | 13,051 |   |

*Notes      to Consolidated Financial Statements.*

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**SUPERTEX,      INC.**

**CONSOLIDATED      STATEMENTS OF SHAREHOLDERS' EQUITY **

*(in      thousands*
***)***

|                                                                                                                                                  |   |   | **Number                of Common Shares**  |   |   | **Stock                Amount** |   |   | **Retained                Earnings** |   |   | **Shareholders’                Equity** |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------------------------------------------------|--------|--------|---------------------------------|--------|--------|--------------------------------------|--------|--------|-----------------------------------------------|--------|
|                                                                                                                                                  |   |   |                                             |   |   |                            |   |   |                                 |   |   |                                          |   |
| Balance,                March 29, 2003………………………………….............        |   |   | 12,658                                           |   | $      | 29,045                          |   | $      | 63,480                               |   | $      | 92,525                                        |   |
| Stock                options exercised………………………………......                      |   |   | 221                                              |   |   | 2,678                           |   |   | --                                   |   |   | 2,678                                         |   |
| Shares                received in lieu of cash for exercise of options..                                                                              |   |   | (40                                              | )      |   | (733                            | )      |   | --                                   |   |   | (733                                          | )      |
| Issuance                of shares under ESPP……………………….....                                      |   |   | 50                                               |   |   | 614                             |   |   | --                                   |   |   | 614                                           |   |
| Tax                benefit from stock options………………………......                                    |   |   | --                                               |   |   | 530                             |   |   | --                                   |   |   | 530                                           |   |
| Net                income…………………………………………............ |   |   | --                                               |   |   | --                              |   |   | 2,160                                |   |   | --                                            |   |
| Total                comprehensive income………………………….....                                  |   |   | --                                               |   |   | --                              |   |   | --                                   |   |   | 2,160                                         |   |
| Balance,                April 3, 2004…………………………………….............. |   |   | 12,889                                           |   |   | 32,134                          |   |   | 65,640                               |   |   | 97,774                                        |   |
| Stock                options exercised………………………………......                      |   |   | 183                                              |   |   | 2,330                           |   |   | --                                   |   |   | 2,330                                         |   |
| Shares                received in lieu of cash for exercise of options..                                                                              |   |   | (8                                               | )      |   | (181                            | )      |   | --                                   |   |   | (181                                          | )      |
| Issuance                of shares under ESPP……………………….....                                      |   |   | 48                                               |   |   | 623                             |   |   | --                                   |   |   | 623                                           |   |
| Stock                repurchased…………………………………….......             |   |   | (26                                              | )      |   | (67                             | )      |   | (347                                 | )      |   | (414                                          | )      |
| Tax                benefit from stock options………………………......                                    |   |   | --                                               |   |   | 504                             |   |   | --                                   |   |   | 504                                           |   |
| Net                income…………………………………………............ |   |   | --                                               |   |   | --                              |   |   | 6,459                                |   |   | --                                            |   |
| Total                comprehensive income………………………….....                                  |   |   | --                                               |   |   | --                              |   |   | --                                   |   |   | 6,459                                         |   |
| Balance,                April 2, 2005…………………………………….............. |   |   | 13,086                                           |   |   | 35,343                          |   |   | 71,752                               |   |   | 107,095                                       |   |
| Stock                options exercised………………………………......                      |   |   | 553                                              |   |   | 8,289                           |   |   | --                                   |   |   | 8,289                                         |   |
| Shares                received in lieu of cash for exercise of options..                                                                              |   |   | (21                                              | )      |   | (666                            | )      |   | --                                   |   |   | (666                                          | )      |
| Issuance                of shares under ESPP……………………….....                                      |   |   | 58                                               |   |   | 699                             |   |   | --                                   |   |   | 699                                           |   |
| Stock                repurchased…………………………………….......             |   |   | (68                                              | )      |   | (183                            | )      |   | (897                                 | )      |   | (1,080                                        | )      |
| Tax                benefit from stock options………………………......                                    |   |   | --                                               |   |   | 3,210                           |   |   | --                                   |   |   | 3,210                                         |   |
| Net                income…………………………………………............ |   |   | --                                               |   |   | --                              |   |   | 15,877                               |   |   | --                                            |   |
| Total                comprehensive income………………………….....                                  |   |   | --                                               |   |   | --                              |   |   | --                                   |   |   | 15,877                                        |   |
| Balance,                April 1, 2006…………………………………….............. |   |   | 13,608                                           |   | $      | 46,692                          |   | $      | 86,732                               |   | $      | 133,424                                       |   |

*Notes      to Consolidated Financial Statements*

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**SUPERTEX,      INC.**

**CONSOLIDATED      STATEMENTS OF CASH FLOWS**

*(in      thousands)*

|                                                                                                                                                                                                                 |   | **Fiscal                Years                Ended** |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------|
| CASH                FLOWS FROM OPERATING ACTIVITIES                                                                                                                                                                  |   |                                                 | **April                1, 2006** |   |   | **April                2, 2005** |   |   | **April                3, 2004** |   |
|                                                                                                                                                                                                                 |   |                                                 |   |   |   |   |   |   |   |   |
| Net                income………………………………………………..………………................  |   | $                                                    | 15,877 |   | $ | 6,459 |   | $ | 2,160 |   |
| Non-cash                adjustments to net income:                                                                                                                                                                   |   |                                                 |   |   |   |   |   |   |   |   |
| Depreciation                and amortization…………………………………..………...........                                            |   |                                                 | 2,854 |   |   | 3,293 |   |   | 4,363 |   |
| Provision                for doubtful accounts and sales returns………………….…….....                                                                                |   |                                                 | 1,035 |   |   | 1,335 |   |   | 1,599 |   |
| Provision                for excess and obsolete inventories………………………….........                                                                          |   |                                                 | 2,293 |   |   | 1,777 |   |   | 1,044 |   |
| Loss                on disposal of assets………………………………………………..........                                    |   |                                                 | -- |   |   | 48 |   |   | -- |   |
| Deferred                income taxes…………….……………………………………..............                             |   |                                                 | (140 | ) |   | (2,500 | ) |   | 370 |   |
| Tax                benefit from exercise of stock                options………………………….…...........                                                    |   |                                                 | 3,210 |   |   | 504 |   |   | 530 |   |
| Changes                in operating assets and liabilities:                                                                                                                                                          |   |                                                 |   |   |   |   |   |   |   |   |
| Short-term                investments, categorized as trading ………….………….........                                                                                     |   |                                                 | (1,059 | ) |   | (726 | ) |   | (1,062 | ) |
| Trade                accounts receivable……………………………………………...........                                           |   |                                                 | (7,961 | ) |   | (1,566 | ) |   | 868 |   |
| Inventories…………………………………………………………….............                            |   |                                                 | (2,212 | ) |   | (1,795 | ) |   | 932 |   |
| Prepaid                expenses and other assets……………………………………........                                                           |   |                                                 | (486 | ) |   | (277 | ) |   | (64 | ) |
| Trade                accounts payable and accrued expenses………………………......                                                                                      |   |                                                 | 3,816 |   |   | 2,350 |   |   | (557 | ) |
| Deferred                revenue………………………………………….………….............                            |   |                                                 | (44 | ) |   | 356 |   |   | 1,253 |   |
| Income                taxes payable…………………………………………………...........                                  |   |                                                 | (345 | ) |   | 1,553 |   |   | (1,819 | ) |
| Total                adjustments to net income…………………………………….……….......                                        |   |                                                 | 961 |   |   | 4,352 |   |   | 7,457 |   |
|                       Net cash provided by operating activities…………………………………                             |   |                                                 | 16,838 |   |   | 10,811 |   |   | 9,617 |   |
| CASH                FLOWS FROM INVESTING ACTIVITIES                                                                                                                                                                  |   |                                                 |   |   |   |   |   |   |   |   |
| Purchases                of property, plant and equipment………………………………........                                                                |   |                                                 | (2,910 | ) |   | (1,602 | ) |   | (2,010 | ) |
| Proceeds                from disposal of property and equipment, net.……………………....                                                                                    |   |                                                 | -- |   |   | -- |   |   | 20 |   |
| Sales                of short-term investments, categorized as                available-for-sale…………...                                                                                      |   |                                                 | 760,474 |   |   | 396,258 |   |   | 10,400 |   |
| Purchases                of short-term investments, categorized as                available-for-sale……..                                                                                                 |   |                                                 | (792,624 | ) |   | (426,908 | ) |   | (23,800 | ) |
|                      Net cash used in investing activities……………..………………………….                      |   |                                                 | (35,060 | ) |   | (32,252 | ) |   | (15,390 | ) |
| CASH                FLOWS FROM FINANCING ACTIVITIES                                                                                                                                                                  |   |                                                 |   |   |   |   |   |   |   |   |
| Proceeds                from exercise of stock options and employee stock purchase                plan                                                                                                               |   |                                                 | 8,322 |   |   | 2,772 |   |   | 2,559 |   |
| Stock                repurchased…………………………………………………………............               |   |                                                 | (1,080 | ) |   | (414 | ) |   | -- |   |
|                     Net cash provided by financing activities…………………………………..                                       |   |                                                 | 7,242 |   |   | 2,358 |   |   | 2,559 |   |
| NET                DECREASE IN CASH AND CASH EQUIVALENTS………………….........                                                                                                   |   |                                                 | (10,980 | ) |   | (19,083 | ) |   | (3,214 | ) |
|                                                                                                                                                                                                                 |   |                                                 |   |   |   |   |   |   |   |   |
| CASH                AND CASH EQUIVALENTS:                                                                                                                                                                            |   |                                                 |   |   |   |   |   |   |   |   |
| Beginning                of period…………………………………………………………..........               |   |                                                 | 38,634 |   |   | 57,717 |   |   | 60,931 |   |
| End                of period…………………………………………………………………......... |   | $                                                    | 27,654 |   | $ | 38,634 |   | $ | 57,717 |   |
|                                                                                                                                                                                                                 |   |                                                 |   |   |   |   |   |   |   |   |
| Supplemental                cash flow disclosures:                                                                                                                                                                   |   |                                                 |   |   |   |   |   |   |   |   |
| Income                taxes paid, net of refunds……………………………………………….......                                |   | $                                                    | 4,866 |   | $ | 3,543 |   | $ | 1,889 |   |

*Notes      to Consolidated Financial Statements*
*.*

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**SUPERTEX,      INC.**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS**

*Nature      of Business*

*Principles      of Consolidation*

*Fiscal      Period*

*Use      of Estimates*

*Certain      Risks and Uncertainties*

*Cash      and Cash Equivalents*

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**SUPERTEX,      INC.**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS - **

*Short-term      Investments*

*“Accounting      for Certain Investments in Debt and Equity Securities.”*

*“Working      Capital-Current Assets and Current Liabilities,”*

*Accounts      Receivable*

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**SUPERTEX,      INC.**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS - **

*Concentration      of credit risk and foreign operations*

*Foreign      Currency Risk*

*Foreign      Currency Translation*

*Significant      Customers*

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**SUPERTEX,      INC.**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS - **

*Inventories*

*Property,      Plant and Equipment*

*Impairment      of Long-lived assets*

*Revenue      Recognition*

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**SUPERTEX,      INC.**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS - **

*Research      and Development Expense*

*Net      Income per Share*

|  *(in              thousands, except per share value)*             | **Fiscal                Years                Ended** |
|-------------------------------------------------------------------------|------------------------------------------------------|
|                                                                    | **April                1, 2006**                     |   | **April                2, 2005** |   | **April                3, 2004** |
| BASIC:                                                                  |                                                 |   |   |   |   |
| Weighted                average shares outstanding                      | 13,313                                               |   | 12,985 |   | 12,758 |
| Net                income                                          | $                15,877                              |   | $                6,459 |   | $                2,160 |
| Net                income per share                                     | $                1.19                                |   | $                0.50 |   | $                0.17 |
|                                                                    |                                                 |   |   |   |   |
| DILUTED:                                                                |                                                 |   |   |   |   |
| Weighted                average shares outstanding                 | 13,313                                               |   | 12,985 |   | 12,758 |
| Effect                of dilutive securities: stock options   | 457                                                  |   | 254 |   | 293 |
|                     Total                           | 13,770                                               |   | 13,239 |   | 13,051 |
| Net                income                                               | $                15,877                              |   | $                6,459 |   | $                2,160 |
| Net                income per share                                     | $                1.15                                |   | $                0.49 |   | $                0.17 |

*Stock-based      Compensation*

*Accounting      for Stock Issued to Employees*
*“Accounting      for Certain Transaction involving Stock Compensation”*
*“Accounting      for Stock-Based Compensation”*
*“Accounting      for Equity Instruments That Are Issued to Other Than Employees for Acquiring,      or      in Conjunction with Selling Goods or Services”*

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**SUPERTEX,      INC.**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS - **

** **
**                                 **
**Fiscal      Years Ended **

*** ***

| *(in                thousands, except per share amount)* | **April                1, 2006**                                                                                                   | **April                2, 2005** | **April                3, 2004** |
|----------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------|----------------------------------|----------------------------------|
| Net                income                                | As                reported                                                                                                         | $                15,877          | $                6,459           | $                2,160 |
| Add:                                                     | Stock-based                employee compensation expense included in reported net income, net                of                tax | --                               | --                               | -- |
|                                                     |                                                                                                                               |                             |                             |   |
| Deduct:                                                  | Stock-based                employee compensation expense determined under fair value based method,                net of tax       | (981)                            | (1,272)                          | (1,063) |
|                                                     |                                                                                                                               |                             |                             |   |
|                                                     | Pro                forma                                                                                                           | $                14,896          | $                5,187           | $                1,097 |
|                                                     |                                                                                                                               |                             |                             |   |
| Basic                earnings per share                  | As                reported                                                                                                         | $                1.19            | $                0.50            | $                0.17 |
|                                                     |                                                                                                                               |                             |                             |   |
|                                                     | Pro                forma                                                                                                           | $                1.12            | $                0.40            | $                0.09 |
| Diluted                earnings per share                | As                reported                                                                                                         | $                1.15            | $                0.49            | $                0.17 |
|                                                     |                                                                                                                               |                             |                             |   |
|                                                     | Pro                forma                                                                                                           | $                1.10            | $                0.40            | $                0.08 |

|                                                                                                                             **Employee                Stock Option                Plans                                                                                          ESPP** |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |   | **2006** |   |   | **2005** |   |   | **2004** |   |   | **2006** |   |   | **2005** |  |   | **2004** |   |
| Risk-free                interest rate                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   | 4.37 | % |   | 2.80 | % |   | 2.27 | % |   | 4.25 | % |   | 1.67 | % |   | 1.02 | % |
| Expected                term of options from vest date (years)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   | 1.69 |   |   | 1.52 |   |   | 1.37 |   |   | 0.50 |   |   | 0.50 |   |   | 0.50 |   |
| Expected                volatility                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |   | 48.75 | % |   | 51.61 | % |   | 53.65 | % |   | 51.69 | % |   | 51.03 | % |   | 41.71 | % |
| Expected                dividends                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   | -- |   |   | -- |  |   | -- |   |   | -- |   |   | -- |   |   | -- |   |
| Weighted-average                fair value                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   | $                   30.71 |   |   | $                    17.94 |   |   | $                   17.53 |   |   | $                    14.26 |   |   | $                   15.13 |   |   | $                   14.44 |   |

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**SUPERTEX,      INC.**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS - **

*Income      Taxes*

*“Accounting      for Income Taxes,”*

*Advertising      Costs*

*Fair      Value of Financial Instrument*

*Comprehensive      Income*

*Recent      Accounting Pronouncements*

*Share-Based      Payment”*
*Accounting      for Stock Issued to Employees”*

*Accounting      Changes and Error Corrections”*
*Accounting      Changes”*
*Reporting      Accounting Changes in Interim Financial Statements”*

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**SUPERTEX,      INC.**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS - **

*The      Meaning of Other-Than-Temporary Impairment and Its Application to Certain      Investments”*

*(in      thousands):*

|                                         |   | **April                1, 2006** |   | **April                2, 2005** |
|----------------------------------------------|--------|----------------------------------|--------|----------------------------------|
| Available-for-sale                securities |   | $                76,200          |   | $                44,050          |
| Trading                securities            |   | 6,792                            |   | 5,733                            |
|                                         |   | $                82,992          |   | $                49,783          |

|                                          |   | **April                1, 2006** |   | **April                2, 2005** |
|-----------------------------------------------|--------|----------------------------------|--------|----------------------------------|
| Available-for-sale                securities: |   |                             |   |                             |
| Due                after ten years            |   | $                76,200          |   | $                44,050          |
|                                          |   |                             |   |                             |
| Trading                securities:            |   |                             |   |                             |
| Due                in one year or less        |   | 6,792                            |   | 5,733                            |
|                                          |   | $                82,992          |   | $                49,783          |

*(in      thousands)*

|                                                                   | **April                1, 2006** |   | **April                2, 2005** |
|------------------------------------------------------------------------|----------------------------------|--------|----------------------------------|
| Accounts                receivable                                     | $                15,496          |   | $                8,602           |
| Less:                Allowance for doubtful accounts and sales returns | (672)                            |   | (704)                            |
| Total                Trade accounts receivable                         | $                14,824          |   | $                7,898           |

----

**SUPERTEX,      INC.**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS - **

|                                               | **April                1, 2006** |   | **April                2, 2005** |   | **April                3, 2004** |
|----------------------------------------------------|----------------------------------|--------|----------------------------------|--------|----------------------------------|
| Balance                at beginning of fiscal year | $                704             |   | $                386             |   | $                615             |
| Charged                to costs and expenses       | 1,035                            |   | 1,335                            |   | 1,599                            |
| Write-off                of accounts               | (1,067)                          |   | (1,017)                          |   | (1,828)                          |
| Balance                at end of fiscal year       | $                672             |   | $                704             |   | $                386             |

*(in      thousands):*

|                             | **April                1, 2006** |   | **April                2, 2005** |
|----------------------------------|----------------------------------|--------|----------------------------------|
| Raw                materials     | $                1,214           |   | $                1,220           |
| Work-in-process                  | 7,644                            |   | 7,371                            |
| Finished                goods    | 3,685                            |   | 4,033                            |
| Total                Inventories | $12,543                          |   | $12,624                          |

*(in      thousands)*

|                                     | **April                1, 2006** |   | **April                2, 2005** |
|------------------------------------------|----------------------------------|--------|----------------------------------|
| Shipments                to distributors | $                3,454           |   | $                3,306           |
| Technology                license        | 112                              |   | 262                              |
| Others                                   | --                               |   | 42                               |
| Total                Deferred revenue    | $                3,566           |   | $                3,610           |

----

**SUPERTEX,      INC.**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS - **

*(in      thousands):*

|                                                          |   |   | **                               April 1, 2006** |   |   | **April                2, 2005** |   |
|---------------------------------------------------------------|--------|--------|-----------------------------------------------------------------------------------------------------------------------------|--------|--------|----------------------------------|--------|
| Land                                                          |   | $      | 825                                                                                                                         |   | $      | 825                              |   |
| Machinery                and equipment                        |   |   | 36,290                                                                                                                      |   |   | 33,691                           |   |
| Leasehold                improvements                         |   |   | 2,429                                                                                                                       |   |   | 2,252                            |   |
| Building                                                      |   |   | 2,504                                                                                                                       |   |   | 2,468                            |   |
| Furniture                and fixtures                         |   |   | 333                                                                                                                         |   |   | 330                              |   |
|                                                          |   |   | 42,381                                                                                                                      |   |   | 39,566                           |   |
| Less                accumulated depreciation and amortization |   |   | (34,333                                                                                                                     | )      |   | (31,574                          | )      |
| Property,                plant and equipment, net             |   | $      | 8,048                                                                                                                       |   | $      | 7,992                            |   |

*(in      thousands):*

|                                            |   |  **Fiscal                Years Ended** |
|-------------------------------------------------|--------|---------------------------------------------|
|                                            |   |                                        | **                                  April 1, 2006** |   |   | **April                2, 2005** |   |   | **April                3, 2004** |   |
| Current                                         |   |                                        |  |   |   |  |   |   |   |   |
| Federal                                         |   | $                                           | 6,733 |   | $ | 4,487 |   | $ | 886 |   |
| State                                           |   |                                        | 162 |   |   | 167 |   |   | 4 |   |
| Non-US                                          |   |                                        | 59 |   |   | 878 |   |   | 450 |   |
|                                            |   |                                        | 6,954 |   |   | 5,532 |   |   | 1,340 |   |
| Deferred                                        |   |                                        |   |   |   |   |   |   |   |   |
| Federal                                         |   |                                        | (310 | ) |   | (2,381 | ) |   | (727 | ) |
| State                                           |   |                                        | 634 |   |   | (51 | ) |   | 357 |   |
| Non-US                                          |   |                                        | 50 |   |   | -- |   |   | -- |   |
|                                            |   |                                        | 374 |   |   | (2,432 | ) |   | (370 | ) |
|                                            |   |                                        |   |   |   |   |   |   |   |   |
| Total                Provision for income taxes |   | $                                           | 7,328 |   | $ | 3,100 |   | $ | 970 |   |

|                                                        |   | **Fiscal                Years Ended**  |
|-------------------------------------------------------------|--------|---------------------------------------------|
|                                                        |   |                                        | **     April                1, 2006** |   |   | **April                2, 2005** |   |   | **April                3, 2004** |   |
| Tax                provision at US statutory rates          |   |                                        | 35 | % |   | 35 | % |   | 35 | % |
| State                tax provision, net of Federal benefits |   |                                        | 4 |   |   | 3 |   |   | 5 |   |
| Tax                credits                                  |   |                                        | (3 | ) |   | (6 | ) |   | (12 | ) |
| Foreign                earnings tax differential            |   |                                        | -- |   |   | 2 |   |   | (7 | ) |
| Tax                exempt investment income                 |   |                                        | (3 | ) |   | (2 | ) |   | -- |   |
| Other                                                       |   |                                        | (1 | ) |   | -- |   |   | 10 |   |
|                                                        |   |                                        | 32 | % |   | 32 | % |   | 31 | % |

----

**SUPERTEX,      INC.**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS - **

*(in      thousands):*

|                                                              | **Fiscal                Years Ended** |
|-------------------------------------------------------------------|---------------------------------------|
| Deferred                tax assets:                               | **April                1, 2006**      |   | **April                2, 2005** |   | **April                3, 2004** |
| Accrued                employee benefits                          | $                784                  |   | $                733 |   | $                554 |
| Inventory                reserves                                 | 1,890                                 |   | 1,604 |   | 1,131 |
| Accrued                liabilities                                | 2,785                                 |   | 2,287 |   | 1,905 |
| Deferred                revenue on shipments to distributors      | 1,358                                 |   | 1,421 |   | 1,253 |
| Allowances                for doubtful accounts and sales returns | 226                                   |   | 277 |   | 146 |
| Depreciation                and amortization                      | 792                                   |   | 1,234 |   | 28 |
| Tax                credits                                        | 738                                   |   | 877 |   | 916 |
| Total                Deferred tax assets                          | $                8,573                |   | $                8,433 |   | $                5,933 |

*(in      thousands):*

|                         | **Fiscal                Years Ended** |
|------------------------------|---------------------------------------|
|                         | **April                1, 2006**      |   | **April                2, 2005** |   | **April                3, 2004** |
| United                States | $                22,514               |   | $                7,489 |   | $                1,472 |
| Foreign                      | 691                                   |   | 2,070 |   | 1,658 |
|                         | $                23,205               |   | $                9,559 |   | $                3,130 |

----

**SUPERTEX,      INC.**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS - **

*Profit      Sharing Plan --*

*Savings      and Retirement Plan --*

*Supplemental      Employee Retirement Plan -- *

*Employee      Stock Purchase Plan -- *

* *

*Stock      Option Plans --*

----

**SUPERTEX,      INC.**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS - **

**                                                                               Options Outstanding**

|                                                    |   |   | **Available                For****Grant** |   |   | **Shares** |   |   | **Price                Per Share** |   |   | **Weighted                Average****Exercise                Price** |   |
|---------------------------------------------------------|--------|--------|-------------------------------------------|--------|--------|------------|--------|--------|------------------------------------|--------|--------|----------------------------------------------------------------------|--------|
| Balance,                March 29, 2003                  |   |   | --                                        |   |   | 1,309,380  |   | $      | 10.31                - $46.34      |   | $      | 17.21                                                                |   |
|                      Exercised |   |   | --                                        |   |   | (217,650   | )      |   | 10.31                - 19.56       |   |   | 12.05                                                                |   |
|                      Canceled  |   |   | 129,500                                   |   |   | (129,500   | )      |   | 11.00                - 46.34       |   |   | 26.67                                                                |   |
|                      Expired   |   |   | (129,500                                  | )      |   | --         |   |   |                               |   |   |                                                                 |   |
| Balance,                April 3, 2004                   |   |   | --                                        |   |   | 962,230    |   |   | 10.31                - 46.34       |   |   | 17.10                                                                |   |
|                      Exercised |   |   | --                                        |   |   | (150,020   | )      |   | 10.31                - 19.56       |   |   | 12.13                                                                |   |
|                      Canceled  |   |   | 14,560                                    |   |   | (14,560    | )      |   | 12.53                - 46.34       |   |   | 21.30                                                                |   |
|                      Expired   |   |   | (14,560                                   | )      |   | --         |   |   |                               |   |   |                                                                 |   |
| Balance,                April 2, 2005                   |   |   | --                                        |   |   | 797,650    |   |   | 10.31                - 46.34       |   |   | 17.96                                                                |   |
|                      Exercised |   |   | --                                        |   |   | (423,360   | )      |   | 10.31                - 28.31       |   |   | 14.37                                                                |   |
|                      Canceled  |   |   | 39,400                                    |   |   | (39,400    | )      |   | 10.75                - 46.34       |   |   | 15.34                                                                |   |
|                      Expired   |   |   | (39,400                                   | )      |   | --         |   |   |                               |   |   |                                                                 |   |
| Balance,                April 1, 2006                   |   |   | --                                        |   |   | 334,890    |   | $      | 10.75                - $46.34      |   | $      | 22.80                                                                |   |

----

**SUPERTEX,      INC.**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS - **

**                                                    Options Outstanding**

|                                                                |   |   | **Available                For****Grant** |   |   | **Shares** |   |   | **Price                Per Share** |   |   | **Weighted                Average****Exercise                Price** |   |
|---------------------------------------------------------------------|--------|--------|-------------------------------------------|--------|--------|------------|--------|--------|------------------------------------|--------|--------|----------------------------------------------------------------------|--------|
| Balance,                March 29, 2003                              |   |   | 1,765,300                                 |   |   | 234,700    |   | $      | 11.30                - $21.31      |   | $      | 15.69                                                                |   |
| Granted                                                             |   |   | (324,800                                  | )      |   | 324,800    |   |   | 17.11                - 18.52       |   |   | 17.53                                                                |   |
| Exercised                                                           |   |   | --                                        |   |   | (3,451     | )      |   | 11.30                - 17.14       |   |   | 15.61                                                                |   |
| Canceled                                                            |   |   | 38,449                                    |   |   | (38,449    | )      |   | 15.83                - 21.31       |   |   | 18.07                                                                |   |
| Balance,                April 3, 2004                               |   |   | 1,478,949                                 |   |   | 517,600    |   |   | 11.30                - 21.31       |   |   | 16.67                                                                |   |
|                        Granted   |   |   | (205,600                                  | )      |   | 205,600    |   |   | 15.67                - 21.75       |   |   | 17.94                                                                |   |
|                        Exercised |   |   | --                                        |   |   | (33,110    | )      |   | 11.30                - 18.52       |   |   | 15.42                                                                |   |
|                        Canceled  |   |   | 48,560                                    |   |   | (48,560    | )      |   | 11.30                - 21.75       |   |   | 17.06                                                                |   |
| Balance,                April 2, 2005                               |   |   | 1,321,909                                 |   |   | 641,530    |   |   | 11.30                - 21.75       |   |   | 17.11                                                                |   |
|                        Granted   |   |   | (342,800                                  | )      |   | 342,800    |   |   | 17.39                - 42.24       |   |   | 30.71                                                                |   |
|                        Exercised |   |   | --                                        |   |   | (129,441   | )      |   | 11.30                - 21.75       |   |   | 17.04                                                                |   |
|                        Canceled  |   |   | 72,560                                    |   |   | (72,560    | )      |   | 11.30                - 42.24       |   |   | 20.43                                                                |   |
| Balance,                April 1, 2006                               |   |   | 1,051,669                                 |   |   | 782,329    |   | $      | 11.30                - $42.24      |   | $      | 22.77                                                                |   |

|                                                                                                                                                                                                                                     |   | **Options                Outstanding**      |   | **Options                Exercisable**                                 |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------|--------|------------------------------------------------------------------------|
|  **Range                of Exercise Prices**                                                                                                                                                                                        |   |  **Number                Outstanding** |   | **Weighted-Average                Remaining Contractual Life (Years)** |   |  **Weighted-Average                Exercise Price** |   |  **Number                Outstanding** |   |  **Weighted-Average                Exercise Price** |
| $10.75                - $15.83                                                                                                                                                                                                           |   | 274,525                                     |   | 2.34                                                                   |   | $13.00 |   | 155,825 |   | $13.28 |
|                                   17.06                - 18.52 |   | 371,304                                     |   | 4.99                                                                   |   | 17.32 |   | 71,344 |   | 17.36 |
|                                   19.37                - 29.00 |   | 151,240                                     |   | 3.94                                                                   |   | 23.44 |   | 71,680 |   | 22.42 |
|                                   33.67                - 46.34 |   | 320,150                                     |   | 5.49                                                                   |   | 37.19 |   | 82,750 |   | 46.34 |
| $10.75                - $46.34                                                                                                                                                                                                           |   | 1,117,219                                   |   | 4.34                                                                   |   | $22.78 |   | 381,599 |   | $22.93 |

----

**SUPERTEX,      INC.**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS - **

*      (in      thousands):*

| **Fiscal                  Years** |   |   | **Operating                  Lease** |   |   | **Sublease                  Income** |   |
|-----------------------------------|--------|--------|--------------------------------------|--------|--------|--------------------------------------|--------|
| 2007                              |   | $      | 1,026                                |   | $      | 352                                  |   |
| 2008                              |   |   | 856                                  |   |   | 155                                  |   |
| 2009                              |   |   | 887                                  |   |   | --                                   |   |
| 2010                              |   |   | 924                                  |   |   | --                                   |   |
| Thereafter                        |   |   | 1,041                                |   |   | --                                   |   |
|                              |   | $      | 4,734                                |   | $      | 507                                  |   |

----

**SUPERTEX,      INC.**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS - **

*** ***

----

**SUPERTEX,      INC.**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS - **

*(in      thousands)*

| **Description**                                  |   | **Balance                at Beginning of Period** |   | **Additions****(1)**   |   | **Deductions****(2)**  |   | **Balance                at End of Period** |
|--------------------------------------------------|--------|---------------------------------------------------|--------|------------------------|--------|------------------------|--------|---------------------------------------------|
| Twelve                months ended April 1, 2006 |   |                                              |   |                   |   |                   |   |                                        |
| Allowance                for sales returns       |   | $                463                              |   | $                1,128 |   | $                1,066 |   | $                525                        |
|                                             |   |                                              |   |                   |   |                   |   |                                        |
| Twelve                months ended April 2, 2005 |   |                                              |   |                   |   |                   |   |                                        |
| Allowance                for sales returns       |   | $                186                              |   | $                1,278 |   | $                1,001 |   | $                463                        |
|                                             |   |                                              |   |                   |   |                   |   |                                        |
| Twelve                months ended April 3, 2004 |   |                                              |   |                   |   |                   |   |                                        |
| Allowance                for sales returns       |   | $                365                              |   | $                1,652 |   | $                1,831 |   | $                186                        |

|   | *(1)* | *Allowances                for sales returns are charged as a reduction to revenue and are recorded                on the balance sheet as a reduction to accounts receivable.* |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

*                 *
*(2)*

*Represents      amounts written off against the allowance for sales returns*

**                                                                              Fiscal Years Ended**

|                                        | **April                1, 2006** | **April                2, 2005** | **April                3, 2004** |
|---------------------------------------------|----------------------------------|----------------------------------|----------------------------------|
| Number                of shares repurchased | 67,900                           | 26,400                           | --                               |
| Cost                of shares repurchased   | $                1,080,000       | $                414,000         | --                               |
| Average                price per share      | $                15.91           | $                15.68           | --                               |

----

**SUPERTEX,      INC.**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS - **

**                                                                 Fiscal Years Ended**

| *(in                thousands)*                                       |   |   | **April                1, 2006** |   |   | **April                2, 2005** |   |   | **April                3, 2004** |   |
|-----------------------------------------------------------------------|--------|--------|----------------------------------|--------|--------|----------------------------------|--------|--------|----------------------------------|--------|
| Net                Sales                                              |   |   |                             |   |   |                             |   |   |                             |   |
| Asia                (excluding Japan)                                 |   | $      | 34,252                           |   | $      | 11,211                           |   | $      | 9,481                            |   |
| United                States                                          |   |   | 29,802                           |   |   | 31,796                           |   |   | 29,072                           |   |
|                         Japan |   |   | 7,284                            |   |   | 6,673                            |   |   | 5,474                            |   |
| Europe                                                                |   |   | 6,387                            |   |   | 5,133                            |   |   | 5,773                            |   |
| Other                                                                 |   |   | 2,373                            |   |   | 1,745                            |   |   | 1,594                            |   |
| Total                Net Sales                                        |   | $      | 80,098                           |   | $      | 56,558                           |   | $      | 51,394                           |   |

*(in      thousands):*

|                                              |   |   | **                                 April 1, 2006** |   |   | **April                2, 2005** |   |
|---------------------------------------------------|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------|--------|--------|----------------------------------|--------|
| United                States                      |   | $      | 7,006                                                                                                                                   |   | $      | 7,234                            |   |
| Hong                Kong                          |   |   | 1,042                                                                                                                                   |   |   | 758                              |   |
| Property,                plant and equipment, net |   | $      | 8,048                                                                                                                                   |   | $      | 7,992                            |   |

----

**SUPERTEX,      INC.**

**EXHIBIT      INDEX**

----

|   | 32.1 | Certification                of Chief Executive Officer and Chief Financial Officer pursuant to                18                U.S.C. Section 1350, as adopted pursuant to Section 906 of the                Sarbanes-Oxley Act of 2002. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**EXHIBIT      21.1**

**SUBSIDIARIES      OF THE REGISTRANT**

| **Name**                        |   | **Jurisdiction                of****Incorporation** |   | **Year****Organized** |
|---------------------------------|--------|-----------------------------------------------------|--------|-----------------------|
| Supertex                Limited |   | Hong                Kong                            |   | 2001                  |

----

**EXHIBIT      23.1**

**CONSENT      OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

----

**EXHIBIT      31.1**

**CERTIFICATION      UNDER RULE 13a-14(a) and 15d-14(a)**

| (a)   | designed                such disclosure controls and procedures, or caused such disclosure                controls and procedures to be designed under my supervision, to ensure                that material information relating to the registrant, including its                consolidated subsidiaries, is made known to us by others within those                entities, particularly during the period in which this annual report                is                being prepared; |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | designed                such internal control over financial reporting, or caused such internal                control over financial reporting to be designed under my supervision,                to provide reasonable assurance regarding the reliability of financial                reporting and the preparation of financial statements for external                purposes in accordance with generally accepted accounting                principles; |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)   | evaluated                the effectiveness of the registrant's disclosure controls and procedures                and presented in this report my conclusion about the effectiveness                of the                disclosure controls and procedures, as of the end of the period covered                by                this annual report based on such evaluation;                and |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d)   | disclosed                in this report any change in the registrant’s internal control over                financial reporting that occurred during the registrant’s fourth fiscal                quarter that has materially affected, or is reasonably likely to                materially affect, the registrant’s internal control over financial                reporting; and |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (a)   | all                significant deficiencies and material weaknesses in the design or                operation of internal control over financial reporting which are                reasonably likely to adversely affect the registrant's ability to                record,                process, summarize, and report financial information; and |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | any                fraud, whether or not material, that involves management or other                employees who have a significant role in the registrant's internal                control over                financial reporting. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**                             **

**EXHIBIT      32.1**

**CERTIFICATION OF      CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER 18 U.S.C.§ 1350**

|   | (i) | the                Annual Report of the Company on Form 10-K for the period ending April                1, 2006 (the “Report”), fully complies with the requirements of Section                13(a) or 15(d), whichever is applicable, of the Securities Exchange                Act of                1934, and |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the                information contained in the Report fairly presents, in all material                respects, the financial condition and results of operations of the                Company. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| The              material contained in this Exhibit 32.1 is not deemed “filed” with the SEC              and is not to be incorporated by reference into any filing of the Company              under the Securities Act of 1933 or the Securities Exchange Act of              1934,              whether made before or after the date hereof and irrespective of any              general incorporation language contained in such filing. |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----