X-FAB continues strong growth in first quarter of 2008Erfurt, Germany, June 3, 2008.
X-FAB Silicon Foundries, the world's leading foundry for the production of analog/digital integrated circuits, today announced sales revenue of USD 119.1 million (EUR 79.5 million) for the first quarter of the current fiscal year. Sales revenue was up 39.5 percent year over year, considerably outperforming the industry average. The Dresden site has been included as a consolidated company of the X-FAB Group since April 1, 2007. Excluding Dresden, sales revenue grew by approximately 23 percent.
At USD 16.8 million (EUR 11.2 million), the operating result (EBIT) increased by 88.8 percent compared to the same quarter last year. This raised X-FAB's EBIT margin to more than 14 percent.
Hans-Jürgen Straub, CEO of the X-FAB Silicon Foundries Group, commented on the company's business outlook: "Despite the overall economic downturn and weakening demand, our first-quarter results are exceptionally positive. However, we expect business to slow down considerably in the second quarter."