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Sales growth of 122.6% for the quarter sets new record
Guidance for full year revenue raised to growth of more than 80%
Significant profit improvement for H2 and full year confirmed
Increase in installed 300mm production capacity confirmed
Contract valued at more than $150 million for the calendar year 2006 signed
with AMD
BERNIN, France, Jan. 16 /PRNewswire-FirstCall/ -- Soitec (Euronext Paris),
the leading manufacturer of silicon-on-insulator (SOI) wafers and other
engineered substrates, today announced consolidated sales of 70.9 million
Euros for the third quarter of the financial year 2005-2006. In absolute
terms, this represents growth of 122.6% on a year-on-year basis and 11.9% on a
sequential basis. Group sales totalled 185.5 million Euros for the nine
months year to date representing growth of 88.8% on a year-on-year basis.
Sales 2005-2006 2004-2005 Growth
(Euros millions)
First quarter 51.2 32.6 +57.3%
Second quarter 63.4 33.8 +87.4%
Third quarter 70.9 31.9 +122.6%
YTD 9 months 185.5 98.3 +88.8%
Soitecs fiscal year runs from April 1 to March 31.
Major 300mm demand and sustained 200mm growth
Particularly strong demand for 300mm wafers, 61% of sales in the quarter
versus 32% a year ago and sustained 200mm volume growth underline third
quarter wafer sales of 67.6 million Euros. This represents growth of 123.6%
(111.4% at constant exchange rates) year on year and 11.9% sequentially.
With Smart Cut(TM) established as the clear SOI technology standard,
licensing revenue of 0.7 million Euros was recorded in the quarter making 2.3
million Euros for the 9 months year to date period equal to the total posted
for the entire prior fiscal year. The Groups Picogiga wafer division
continued and improved its good H1 performance with sales growth surging to
191.5% in the quarter equal to 2.6 million Euros. 9 months year to date
growth stands at 76.5% and the division is on track to double its sales for
the full year.
Group raises sales guidance, confirms strong improvement in results and
advances increase in installed 300mm capacity
Reflecting the success of the adoption of SOI in the semiconductor
industry backed up by contractual purchase commitments, the Group has
increased its guidance for full year revenues up to a minimum growth of 80%
over the prior year. The Group confidently anticipates favourable operating
leverage and a significant improvement in operating margin for the second half
of the year.
The 2005-2009 convertible bond has remained in the money in the quarter
and holders have continued to convert their holdings into ordinary shares. As
of 31 December 2005, just over 60% of the total bonds issued have been
converted. This is double the figure of 30% converted at the end of September
2005. The result is not only to reduce interest costs and improve net income
but also to increase ordinary shareholders funds and reduce net borrowings.
The group confirms that two additional 300mm lines will start up in Bernin
II during the fourth quarter of the current year and in order to meet the
future demand for 300mm SOI wafers, which continues to rise, the Group
anticipates that a total of eight production lines will be installed in the
course of the financial year 2006-2007.
The success of the adoption of SOI in the semiconductor industry
illustrated by the current move toward mass-market products such as games
consoles validates the Groups 300mm capacity expansion strategy, and
management believes that this additional capacity will result in further
improvement to both sales and operating results in the financial year 2006-
2007.
Recent development
Soitec and Advanced Micro Devices have signed an SOI wafer supply contract
worth a total of more than $150 million for the calendar year 2006. This most
recent contract is part of the multi-year agreement announced last year for
the long-term supply of 200mm and 300mm UNIBOND(TM) SOI wafers manufactured
using Soitecs proprietary Smart Cut(TM) process.
Reporting Calendar
Full year sales for 2005-2006 will be published on Tuesday 18th April 2006
after the close of the Paris Stock Exchange.
About The Soitec Group:
The Soitec Group is the worlds leading innovator and provider of the
engineered substrates that serve as the foundation for todays most advanced
electronic products and nanotechnologies. Headquartered in Bernin, France,
the company manufactures its comprehensive portfolio of engineered substrates,
including silicon-on-insulator (SOI) and strained SOI (sSOI), using Soitecs
proprietary Smart Cut(TM) technology-the de facto industry standard. With its
strong global presence, patented technology and industry-leading production
capacity, Soitec is helping to drive the performance and power advantages that
are key to the smaller, more power efficient, and increasingly mobile
electronic products favoured by consumers worldwide. Both shares and
convertible bonds are listed on Euronext Paris. For more information, visit
the companys website located at http://www.soitec.com
Soitec, Smart Cut and UNIBOND are trademarks of S.O.I.TEC Silicon On
Insulator Technologies
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