X-FAB Announces Third Quarter 2008 ResultsErfurt, Germany, November 25, 2008.
The X-FAB Silicon Foundries Group, the world's leading foundry for the production of analog/digital integrated circuits, today announced sales of USD 308.9 million (EUR 203.1 million) for the first nine months of the current fiscal year. This represents an increase of approximately five percent versus the same period the previous year. In the third quarter of 2008, X-FAB recorded a year-on-year sales decline of 24 percent, from USD 109.1 million in 2007 to USD 82.6 million (EUR 55.1 million).
Earnings before interest and taxes (EBIT) as of September 30, 2008, were USD 15.9 million (EUR 10.4 million) compared to USD 35.5 million a year earlier, a decline of approximately 55 percent. X-FAB posted negative EBIT of USD -7.5 million (EUR -4.8 million) in the third quarter. This compares to EBIT of USD 14.7 million in the third quarter of 2007.
Hans-Jürgen Straub, CEO of the X-FAB Silicon Foundries Group, commented: “Our results obviously are impacted by the general state of the global economy. We do not anticipate a change in the fourth quarter, so sales for 2008 will come in below last year's figure. Forecasts for 2009 are still uncertain. Our current focus is on internal optimization and on preparing for the next period of growth.”