11th Jan 2016 12:09
LONDON (Alliance News) - Semiconductor materials company IQE PLC said Monday that it has renegotiated its long-term supply contract with an undisclosed customer to supply wafer products used in wireless applications, a contract it estimates will contribute more than USD55.0 million in revenue during 2016.
"Wireless products continue to represent a key part of IQE's core business. This Tier 1 Customer is a global leader in Wireless connectivity solutions and our long term supply contract demonstrates a strong commitment to IQE. It also confirms our position as a technology leader and the number one choice for advanced semiconductor products for wireless applications," said Chief Executive Officer and President Drew Nelson in a statment.
Shares in IQE were up 4.8% at 22.00 pence Monday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
IQE