20th Jan 2015 09:30
LONDON (Alliance News) - IQE PLC on Tuesday said it expects to meet market expectations for the full year on the back of a solid trading performance in the second half.
IQE, which supplies wafer products and services to the semiconductor industry, said it expects its revenue for the year to December 31 to be around GBP112 million, with GBP60 million in revenue from the second half.
It expects its earnings before income, taxation, depreciation and amortisation to rise around 8% year-on-year to around GBP27 million.
IQE said it expects strong growth in demand for its wireless products in 2015, along with faster growth in its photonics-related businesses and said it expects to meet market expectations for 2015.
"We are excited by the market developments that are leading to the increasing deployment of compound semiconductor solutions across a range of applications, and that consequently offer potential for IQE to deliver continued steady growth as a result of the group's unique position in the compound semiconductor materials marketplace," said IQE Chief Executive Drew Nelson.
IQE shares were up 6.3% to 21.00 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
IQE