X-FAB Announces Strong Third Quarter 2007 ResultsErfurt, Germany, November 27, 2007.
X-FAB Silicon Foundries today reported sales growth for the third quarter of 2007 approximately 82% higher than the same quarter last year. Sales in the third quarter of 2007 increased from USD 60.0 million to USD 109.1 million (EUR 79.5 million) compared to the third quarter of 2006. For the fiscal year to date, X-FAB generated sales of USD 295.3 million (EUR 219.8 million), up approximately 74% year-over-year.
X-FAB Sarawak was included in the comparative figures of the previous year as of September 1, 2006. X-FAB Dresden was included as a consolidated company of the X-FAB Group as of April 1, 2007.
The operating result (EBIT) for the third quarter of 2007 was USD 14.7 million (EUR 10.7 million), compared to USD 4.7 million in the same quarter last year. Nine-month EBIT increased 76% to USD 35.5 million (EUR 26.4 million).
Net income as of September 30, 2007, more than doubled year-over-year (+111%) to USD 30.1 million (EUR 22.4 million). Net income in the third quarter was USD 13.7 million (EUR 10.0 million).
The third quarter's book-to-bill-ratio was 0.97. Initially, orders slightly weakened but have been strong again since September.
"The X-FAB Group continues to demonstrate a positive momentum," said Hans-Jürgen Straub, CEO of the X-FAB Group. "Reiterating our sales guidance for 2007, we expect to report annual sales in excess of USD 400 million. Our aim is to achieve double-digit growth in 2008 as well. We do, however, anticipate the high demand for volatile products, especially flash technologies, to subside."