Electronics Production |
X-FAB increase sales 69% on a year-over-year
X-FAB Silicon Foundries has announced sales of USD 186.2 million for the first half of 2007, an increase of approximately 69% year-over-year. In the second quarter, the company recorded sales of USD 100.8 million, for the first time surpassing the USD 100 million mark in a quarter.
The X-FAB Group attributes this growth to consistently high demand for its technologies and services, and its expansion including X-FAB Sarawak and X-FAB Dresden.
Earnings before interest and taxes (EBIT) in the first six months increased 34.7% to USD 20.8 million compared to the same period the previous year. EBIT in the second quarter was USD 11.9 million, up 63.2% compared to the second quarter of 2006.
Net income as of June 30, 2007, was USD 16.4 million. This corresponds to an increase of 44.2% compared to the same period the previous year. Net income in the second quarter was USD 9.6 million.
The book-to-bill ratio of 1.09 in the first six months and 1.06 in the second quarter is a positive sign for future sales development of the X-FAB Group. The book-to-bill ratio measures the ratio between incoming orders and sales.
"The current fiscal year has been very positive for X-FAB," said Hans-Jürgen Straub, CEO of the X-FAB Group. "The strong orders we see reflect high demand for our technologies and services. As a result, we will focus on pushing ahead with the Group's integration, and making available to our customers additional capacities and technologies from various sites."
At the end of March this year, X-FAB acquired the wafer production facilities of ZMD AG in Dresden called ZFoundry. Effective as of June 1st, ZFoundry has been renamed as X-FAB Dresden GmbH & Co. KG. Through that acquisition X-FAB expanded its manufacturing capacity by 15% to a total of 70.000 8-inch equivalent wafer starts per month.
