Financial year 2011-2012 - Soitec provides full year guidance on its results
Financial year 2011-2012
Soitec provides full year guidance on its results
Bernin, France, January 31, 2012 – Soitec (Euronext Paris), a world leader in generating and manufacturing revolutionary semiconductor materials for electronic and energy industries, guided recently that full-year consolidated sales would exceed 325 million Euros assuming the fourth quarter exchange rate remains at 1.30 Euros to the Dollar and that the company would record a significant operating loss for the fiscal year ending March 31, 2012.
Based on the most up-to-date information, the full-year operating loss is expected to be in the range of 40 to 45 million Euros. We expect the electronics business segment to be close to breakeven for the full year, while we continue to invest in our solar energy business segment. Even with our current year solar investments, we expect our total cash position at the end the year to be flat or slightly up from last year’s closing.
In the electronics business segment, the general economic environment results in a drop in small diameter wafer sales compared to the first half of the year with pressure on margins which cannot be immediately offset by our actions on improving industrial efficiency. Focus on driving a significant reduction in year-end 300 mm wafer inventories will result in a weaker margin in the second half of the year but will allow us to optimize our cash position and to protect future profitability. In the same business segment, we are pursuing our sustained research and development efforts in the promising light-emitting diode (LED) market.
In the solar energy business segment, as previously reported, we received confirmation of numerous commercial successes during the previous quarter. This has led to additional research and development efforts and the strengthening of our organizational structures to address the new strategic challenges including our future industrial ramp up. As already stated, we have confirmed our solar investment of over 150 million dollars in a production facility in San Diego, California, for CPV modules dedicated to the US market.
Fourth-quarter 2011-2012 sales will be published after the close of the Paris Bourse on 16 April 2012.
Soitec is an international manufacturing company, a world leader in generating and manufacturing revolutionary semiconductor materials at the frontier of the most exciting energy and electronic challenges. Soitec’s products include substrates for microelectronics (most notably SOI : Silicon-on-Insulator) and concentrating photovoltaic systems (CPV). The company’s core technologies are Smart Cut™, Smart Stacking™ and Concentrix™, as well as expertise in epitaxy. Applications include consumer and mobile electronics, microelectronics-driven IT, telecommunications, automotive electronics, lighting products and solar power plants for large-scale utilities. Soitec has manufacturing plants and R&D centers in France, Singapore, Germany, and the United States.
For more information, visit: www.soitec.com.
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