X-FAB announces nine-month resultsNEWS, Erfurt, Germany, November 23, 2010.
X-FAB reports year-on-year sales growth of 66 percent and EBIT growth of 72 percent as of September 30, 2010
The X-FAB Silicon Foundries Group today announced sales of USD 239.3 million (EUR 181.9 million) for the first nine months of 2010. This represents a year-on-year increase of 66 percent. X-FAB’s third-quarter sales revenue was USD 83.2 million (EUR 63.2 million) – an increase of 39 percent compared with the same quarter the previous year.
New bookings in the third quarter were on par with the previous quarter. After the high level of new bookings recorded in the first six months of the year, the book-to-bill ratio as of September 30, 2010 was 1.03.
Earnings before interest and taxes (EBIT) in the first nine months were USD -12.8 million (EUR -9.7 million). This is an improvement of 72 percent or USD 32.3 million (EUR 23.3 million) compared with the same period the previous year. EBIT in the third quarter was USD -6.2 million (EUR -4.7 million), a year-on-year improvement of 43 percent.
Chris Förster, CFO of the X-FAB Silicon Foundries Group, commented on the company’s business development: "The extremely high demand recorded in the first half of the year has now levelled off to reflect current market conditions. At year's end, we will achieve our target of increasing sales by 50 percent compared with 2009, and will report a net profit. Our goal for 2011 is to record double-digit sales growth."