Elettronica
SOITEC : 2015-2016 Q2 SALES
- Soitec (Euronext Paris), a world leader in generating and manufacturing revolutionary semiconductor materials, today announced total consolidated revenues of 55.4 million Euros for the second quarter of FY'16. This represented a rise of 23% (growth of 3% at constant exchange rates), versus 45.2 million Euros in the previous financial year, restated to exclude the Solar activities. In line with management's decision to halt the Solar activities, consolidated revenues no longer reflect Solar sales, which are accounted for under discontinued operations.
In the first half of FY'16, revenues grew by 56% to 110.8 million Euros (growth of 30% at constant exchange rates), from 70.8 million Euros in H1'15, restated to exclude the Solar activities.
Lighting sales came to 1.0 million Euros in H1'16 (versus 1.3 million Euros in H1'15). Equipment sales totaled 0.9 million Euros in H1'16 (versus 0.7 million Euros in H1'15).
Soitec has decided to report its Solar activities separately under discontinued operations for FY'16 because the Group is withdrawing from this segment to refocus on Electronics. For Q2'16 and H1'16, Soitec has reported revenues of 5.4 million Euros and 9.9 million Euros respectively (down 52% and 72% respectively year-on-year).
With the end of negotiations with ConcenSolar regarding the sale of certain Solar assets (as previously announced in our press release on August 4, 2015), Soitec has ceased all manufacturing and R&D activities in San Diego (USA) and Freiburg (Germany) and continues to sell off the residual assets of its Solar activities.
Soitec's cash position at September 30 stood at 71 million Euros (versus 63 million Euros at June 30, 2015) owing to the firm performance of the Electronics business and proceeds from disposals of certain Solar assets (San Diego building and small solar farms).
For Q3'16, Electronics sales are expected to grow by 5% versus Q2'16 (at constant exchange rates).
Paul Boudre, Soitec's CEO and Chairman of the Board, commented:
Financial results for H1'16 will be published in mid-November.
Soitec (Euronext, Paris) is a world leader in designing and manufacturing high performance semiconductor materials. The company uses its unique technologies to serve the electronics and energy markets. With 3,600 patents worldwide, Soitec's strategy is based on disruptive innovation to respond to its customers' needs for high performance, energy efficiency and cost competitiveness. Soitec has manufacturing facilities, R&D centers and offices in Europe, US and Asia. For more information, please visit www.soitec.com .
Copyright GlobeNewswire
Attachment(s)
http://hugin.info/143589/R/1959879/714344.pdf
Regulatory News
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: %s via Globenewswire