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Share Price:
31.40
Bid:
31.45
Ask:
31.50
Change:
0.55 (1.78%)
Spread:
0.05 (0.159%)
Open:
32.75
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32.75
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30.65
Prev. Close:
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Don't have an account? Click here to register.IQE set to exceed full-year expectations
Wed, 14th Dec 2016 08:27
(ShareCast News) - Semiconductor wafer products manufacturer IQE posted an update on current trading and its outlook for the year ending 31 December on Wednesday.The AIM-traded firm said that, since the announcement of its interim results on 13 September, its trading has continued to be strong across multiple markets, particularly in the photonics business.As a result, the group announced that it is on track to deliver FY 2016 revenue and adjusted operating profit ahead of expectations.It is anticipated that revenues will reflect a double digit rate of growth year on year, and that H2 revenues will be up sequentially over H1. The wireless business largely performed as expected through 2016, IQE's board reported, and remains on track for year on year growth.Photonics continued to be the fastest growing business segment, enjoying strong double digit growth year on year.Progress with customer qualifications in photonics during 2016 provided a solid platform for continuing strong growth for this business, the board added, and in response to the opportunity, the group has increased its capital investment in H2.InfraRed performed in line with expectations, and license income was reduced from the front loaded income enjoyed in 2015.Revenues, which are primarily dollar denominated, also benefitted in H2 from the devaluation of sterling following the UK's EU membership referendum in June.The currency impact on profitability is largely presentational, however, as the majority of the group's costs are also denominated in dollars.IQE said the balance sheet impact is also presentational, as both non-sterling assets and liabilities will be translated at the year-end spot rate, which is expected to impact positively on the presentation of shareholder funds.Additionally, although the group has de-leveraged its balance sheet during 2016 in underlying dollar terms, the presentation of that is expected to be distorted adversely in sterling.As a result, the board remained confident that the group will exceed current FY 2016 expectations for both revenue and adjusted operating profit."IQE has made good progress in 2016, and is performing well against its strategic goals," said chief executive Drew Nelson."The breadth of IQE's technologies is a competitive advantage that is enabling its continued growth, and will provide a platform for strong cash generation over the coming years."I would like to thank the management and staff of IQE whose hard work and commitment have made this possible."Dr Nelson said IQE will report its FY 2016 results on 21 March 2017.
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UK earnings, trading statements calendar - next 7 days
| Friday 5 April | |
| no events scheduled | |
| Monday 8 April | |
| Bango PLC | Full Year Results |
| Ferrexpo PLC | Trading Statement |
| Globaltrans Investment PLC | Full Year Results |
| Tuesday 9 April | |
| Alliance Pharma PLC | Full Year Results |
| CMC Markets PLC | Trading Statement |
| hVIVO PLC | Full Year Results |
| Imperial Brands PLC | Trading Statement |
| IQE PLC | Full Year Results |
| JTC PLC | Full Year Results |
| S&U PLC | Full Year Results |
| Ultimate Products PLC | Half Year Results |
| Wednesday 10 April | |
| Churchill China PLC | Full Year Results |
| Futura Medical PLC | Full Year Results |
| M&C Saatchi PLC | Full Year Results |
| Marshalls PLC | Full Year Results |
| Tesco PLC | Full Year Results |
| Thursday 11 April | |
| Norcros PLC | Trading Statement |
| Comments and questions to newsroom@alliancenews.com | |
| A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional. | |
| Copyright 2024 Alliance News Ltd. All Rights Reserved. | |
27 Mar 2024 08:51
IQE boosts product portfolio towards artificial intelligence demands
(Alliance News) - IQE announced on Tuesday that it had strengthened its portfolio with a range of new products.
Read more16 Jan 2024 10:56
IQE revenue in line with guidance; poaches Intel's Jutta Meier as CFO
(Alliance News) - IQE PLC on Tuesday said 2023 revenue is in line with guidance and announced the appointment of Intel Corp's Jutta Meier as its new chief financial officer.
Read more16 Jan 2024 10:23
IQE FY revenues surge on strong H2 performance
(Sharecast News) - Semiconductor company IQE said on Tuesday that full-year sales had surged in 2023, driven by a strong second-half performance.
Read more9 Jan 2024 14:00
IQE appoints new vice president of government affairs
(Sharecast News) - Semiconductor wafer company IQE announced the appointment of Rina Pal-Goetzen as its vice president of government affairs on Tuesday.
Read more8 Jan 2024 11:42
IN BRIEF: IQE North Carolina site approved for wafer manufacture
IQE PLC - Cardiff, Wales-based supplier of compound semiconductor wafer products - Says its site in North Carolina, US, has been approved by technology partner Raytheon to produce epitaxial wafers for use in advanced infrared sensing and imaging. Chief Executive Officer Americo Lemos says: "IQE is a market-leading global player in the supply of compound semiconductors to the aerospace and security industries. Having received a Raytheon Premier Supplier Excellence award, this qualification demonstrates the continued confidence that Raytheon has in IQE. We are proud to be a strategic partner, ensuring the volume production of sensor and imaging materials made in the USA for a resilient supply chain. We look forward to continuing our long-term partnership for years to come."
Read more8 Jan 2024 08:20
IQE's North Carolina site gets Raytheon seal of approval
(Sharecast News) - Semiconductor wafer and materials specialist IQE announced on Monday that Raytheon has officially qualified its North Carolina site to produce epitaxial wafers intended for advanced infrared sensing and imaging applications.
Read more11 Dec 2023 14:30
IQE extends Cardiff University partnership on compound semiconductors
(Alliance News) - IQE PLC on Monday said it extended its long-term partnership with Cardiff University to research capacity in compound semiconductor technologies.
Read more11 Dec 2023 09:29
IQE extends partnernship with Cardiff University
(Sharecast News) - Semiconductor group IQE revealed on Monday that it has extended its partnership with Cardiff University.
Read more10 Nov 2023 16:15
Director dealings: IQE CEO raises stake
(Sharecast News) - IQE revealed on Friday that chief executive Americo Lemos had acquired 1.36m ordinary shares in the AIM-listed compound semiconductor wafer products supplier.
Read more