Soitec announces consolidated sales of 52.3 million Euros for Q3 2009-2010

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Soitec (Euronext Paris), the world’s leading supplier of silicon-on-insulator (SOI) and other engineered substrates for the microelectronics industry, announced consolidated sales of 52.3 million Euros for the third quarter of the financial year 2009-2010.

• Wafer sales up by 6.2% sequentially at constant exchange
• Anticipated wafer sales sequential growth around 15% in H2 at constant exchange

Bernin, France, 18 January 2010– Soitec (Euronext Paris), the world’s leading supplier of silicon-on-insulator (SOI) and other engineered substrates for the microelectronics industry, announced consolidated sales of 52.3 million Euros for the third quarter of the financial year 2009-2010. Total wafer sales of 48.0 million Euros for the quarter were up sequentially by 6.2% at constant exchange and up by 2.7% in Euros as the Dollar moved by 3.3% unfavourably against the Euro. For the first nine months of the financial year, total consolidated sales in Euros were down by 17.7% at 146.5 million, however over the same period the Dollar moved favourably by 3.8% against the Euro.

Total wafer sales up sequentially by 6.2% at constant exchange
As anticipated major 300 mm customers waited until the end of the calendar year to reassess final demand. In the third quarter 300mm wafer sales of 48.0 million (80% of total wafer sales), were almost stable sequentially at constant exchange or limited to a decrease of 4.0% in Euros, which confirmed a demand driven activity and a cautious inventory management from the industry. Third quarter sales of 9.4 million Euros for all other sizes, actually grew sequentially by 32.5% at constant exchange or by 29.2% in Euros due to the rebound in the automotive sector combined with additional sales in RF handset markets.

Contribution from Concentrix Solar has not been significant in the quarter.

Total wafer sales were 135.8 million Euros for year to date nine months, down by 21.8% at constant exchange and by 18.9% in Euros.

Third quarter contribution to consolidated sales from other activities, Picogiga, Tracit and licensing was 4.3 million Euros. Year to date nine months these activities, compared to the same period last year were almost stable at 10.7 million Euros.

Anticipated wafer sales sequential growth around 15% in H2 at constant exchange
The most recent information following a full reassessment by major customers after the end of the calendar year points to sequential growth in last quarter of the current financial year leading to a sequential increase in wafer sales around 15% at constant exchange for the second half of the year. This would result in full year sales revenue being lower than last year by less than 10% in Euros on a like for like basis.

Recent development
On December 11th, Soitec has acquired circa 80 percent of the shares, valuing 100 percent of Concentrix at € 55 million. The remaining 20 percent of the shares continue to be owned by the Fraunhofer ISE and the company’s founders and senior management. Soitec is entering the fast-growing solar industry; capturing value through the system level; and expanding its revenue base as worldwide demand for CPV systems is anticipated to ramp up strongly in the coming years. Soitec’s technologies in engineered substrates are key to improve solar cell performance and therefore strongly complement Concentrix’s expertise in high-efficiency CPV systems for solar power plants.

Agenda
Fourth-quarter sales for the financial year 2009-2010 will be published on 19 April 2010 after the closure of the Paris Bourse.

About the Soitec Group
The Soitec Group is the world’s leading innovator and provider of the engineered substrate solutions that serve as the foundation for today’s most advanced microelectronic products. The group leverages its proprietary Smart Cut™ technology to engineer new substrate solutions, such as silicon-on-insulator (SOI) wafers, which became the first high-volume application for this proprietary technology. Since then, SOI has emerged as the material platform of the future, enabling the production of higher performing, faster chips that consume less power.
Today, Soitec produces more than 80 percent of the world’s SOI wafers. Headquartered in Bernin, France, with two high volume fabs on-site, Soitec has offices throughout the United States, Japan and Taiwan, and a new production site in the process of customers’ qualification in Singapore.
Three other divisions, Picogiga International, Tracit Technologies and Concentrix Solar, complete the Soitec Group. Picogiga delivers advanced substrates solutions, including III-V epiwafers and gallium nitride (GaN) wafers, to the compound material world for the manufacture of high-frequency electronics and other optoelectronic devices. Tracit, on the other hand, provides thin-film layer transfer technologies used to manufacture advanced substrates for power ICs and Microsystems, as well as generic circuit transfer technology , Smart Stacking for applications such as image sensors and 3D-integration. In December 2009, Soitec acquired 80% of Concentrix Solar, the leading provider of concentrated photovoltaic (CPV) solar systems for the industrial production of energy. With this acquisition, Soitec is entering the fast-growing solar industry; capturing value through the system level.
Shares of the Soitec Group are listed on Euronext Paris.

For more information, visit www.soitec.com.

Soitec, Smart Cut, Smart Stacking and UNIBOND are trademarks of S.O.I.TEC Silicon On Insulator Technologies.

News Source : Soitec announces consolidated sales of 52.3 million Euros for Q3 2009-2010