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IQE suffers loss of Rs.8.4 crore

Posted: 24 Mar 2006     Print Version  Bookmark and Share

Keywords:Peter Clarke  IQE plc  epitaxial wafers  net loss 

IQE plc, a supplier of epitaxial wafers, made a net loss of about Rs.8.41 crore ($1.9 million) on sales revenue of around Rs.86.73 crore ($19.6 million) in the second half of 2005.

The loss was less than half the equivalent figure for the first half of 2005 and less than one quarter of the loss of Rs.35.40 crore ($8 million) recorded in the first half of 2004, according to results announced by IQE. The 2H sales increased by 16.1 per cent compared with sales in the first half of 2005, which IQE attributed to increased wafer shipments and a more advantageous dollar exchange rate in the second half.

For the full 2005 year IQE made a loss of Rs.30.98 crore ($7 million) on revenues of Rs.161.51 crore ($36.5 million). Revenues were up 36.1 per cent compared with 2004 when IQE made a loss of Rs.78.10 crore ($17.65 million) on revenues of Rs.118.59 crore ($26.8 million).

"As expected, 2005 has proved to be a major turning point for the Group. We achieved a very significant increase in revenues compared with 2004 and the return to profitability is clearly in sight," said Drew Nelson, president and CEO of IQE. "We believe the Group is well positioned to take advantage of the strongly improving market conditions, and has the ability to offer both technical capabilities and competitive pricing across its diverse range of advances materials and technology platforms."

- Peter Clarke
EE Times

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