X-FAB Reports Strong Growth in First Quarter of 2007Erfurt, Germany, May 23, 2007.
X-FAB Silicon Foundries, the world's leading foundry group for analog/mixed-signal semiconductor applications, recorded sales of USD 85.4 million in the first quarter of 2007, up 53.0 percent from the same period last year. This very strong growth is due primarily to expansion achieved through X-FAB Sarawak. The Malaysian site was not included in the consolidated figures until September 2006. Compared to the fourth quarter of 2006, which includes X-FAB Sarawak, sales increased by approximately 11.5 percent.
The operating result (EBIT) improved by 9.0 percent to USD 8.9 million year-over-year.
Expenditures for research and development totaled USD 6.3 million or 7.4 percent of sales. One focus of R&D activities is technology development for X-FAB's 0.18 µm analog/mixed-signal process family, which is intended to pave the way for future growth.
Net income for the first quarter was USD 6.8 million. This corresponds to an increase of 17.1 percent.
X-FAB’s acquisition of ZFOUNDRY at the end of March 2007 is not included in the figures for the first quarter because the consolidation took effect April 1, 2007.
Hans-Jürgen Straub, CEO of the X-FAB Group, commented: "Based on our considerably expanded production capacities and the continually high volume of orders coming in that currently translates into a book-to-bill ratio of 1.11, we are targeting sales of approximately USD 400 million for fiscal 2007. In terms of sales, we expect to surpass the USD 100 million barrier in the second quarter for the first time.
Note regarding the press release of March 22, 2007
The preliminary net income for 2006 reported in March was raised to USD 35 million after the publication of the press release, due to the measurement of deferred taxes.