Trading Update
(Thomson Reuters ONE) -
IQE plc
Continued strong growth in revenues and profitability
Cardiff, UK. 14 July 2011: IQE plc (AIM: IQE, "IQE" or the "Group"), the leading
global supplier of advanced semiconductor wafer products and wafer services to
the semiconductor industry, provides an interim trading update for the six
months to 30 June 2011.
The Group expects to report first-half revenues of at least £38 million and
EBITDA of at least £6 million, despite the adverse impact of foreign currency
exchange. Compared with the first half of 2010, this represents underlying
growth in US dollar revenues of over 20%, which includes approximately £1m from
the Galaxy business acquired in September 2010.
The strong organic revenue growth has been driven by both the wireless and opto
electronics markets. Wireless sales have been driven by sales of Gallium
Arsenide ("GaAs") products into wireless devices and strongly supplemented by
the rapid growth of Gallium Nitride ("GaN") sales into the radar and wireless
infrastructure markets.
Organic revenue growth in the optoelectronics market has been driven across a
range of end markets including IQE's world leading Vertical Cavity Surface
Emitting Laser ("VCSEL") technology for consumer and industrial applications,
optical communications, and solar power.
The Group continues to make good progress with its electronics division, which
is focussed on combining compound semiconductors with silicon to create the next
generation in advanced semiconductor materials for a broad range of ultra high
speed and high performance applications.
The outlook for the second half remains upbeat. The Board expects continuing
robust growth in the Group's core wireless and optoelectronics businesses, as
demand for both industrial and consumer end user devices containing IQE products
remain strong. This confidence is strengthened by the continued progress being
made in new product developments and qualifications.
Dr Drew Nelson, IQE's Chief Executive, said:
"The continued growth in demand for our wireless products and accelerated growth
for our optoelectronic wafers have enabled us to maintain our rapid growth.
"The prospects for the Group are very exciting and, with our highly geared
business model, provide the Board with considerable confidence in a continued
improvement in financial performance for the second half."
IQE expects to report its interim results on 7 September 2011.
Contacts:
IQE plc +44 (0) 29 2083 9400
Drew Nelson
Phil Rasmussen
Chris Meadows
Espirito Santo Investment Bank + 44 (0) 20 7456 9191
Richard Crawley
James Bromhead
College Hill +44 (0) 20 7457 2020
Adrian Duffield
Kay Larsen
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other applicable laws; and
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originality of the information contained therein.
Source: IQE plc via Thomson Reuters ONE
[HUG#1530818]
Unternehmensinformation / Kurzprofil:
Datum: 14.07.2011 - 08:00 Uhr
Sprache: Deutsch
News-ID 56387
Anzahl Zeichen: 3753
contact information:
Town:
Cardiff,
Kategorie:
Business News
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