1st Oct 2013 07:37
LONDON (Alliance News) - Pure Wafer PLC Tuesday said it swung back to a pretax profit in its last financial year as revenues increased, with sales accelerating in the second half of the period, and was confident in its outlook on the back of surging demand for tablets and mobile devices.
"The outlook for the global semiconductor manufacturing industry remains very positive, with demand continuing to increase," Chairman Stephen Boyd said in the company's earnings statement. "Against this market backdrop, the board is confident that the group will make further substantial progress in the current year as demand for our wafer reclaim services increases commensurately."
The silicon wafer reclaim company with plants in the UK and US, reported a pretax profit of USD2.97 million for the year that ended June 30, compared with a loss of USD675,000 a year earlier. Revenues rose to USD36.98 million, from USD35.8 million.
It said it shipped 12% more wafers during the year, while sales volumes were up 21% for the year as a whole and accelerated in the second half.
Pure Wafer shares were down 4.1% at 8.75 pence early Tuesday.
By Steve McGrath; [email protected]; @stevemcgrath1
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