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Trading Update

24 Sep 2013 07:00

RNS Number : 7018O
Pure Wafer PLC
24 September 2013
 



 

PURE WAFER PLC

(AIM: PUR)

Trading Update

24 September 2013

Further to the trading update released on 30 July 2013, Pure Wafer plc ('Pure Wafer' or the 'Company'), the provider of high quality silicon wafer reclaim services for many of the world's leading semiconductor manufacturers, is pleased to confirm that it expects to report strong trading ahead of current market expectations when it releases its preliminary results for the year ended 30 June 2013 on 1 October.

As previously indicated, Pure Wafer has continued to experience high levels of demand for its wafer recycling services at each of its Swansea, UK and Prescott, Arizona plants which have both achieved record levels of trading during the period.

As a result of this sustained demand and continuing attention to the control of costs, the Company will report an increase in EBITDA for the period.

In addition, the Directors have reviewed the remaining useful lives of all fixed assets, and will report a $2.3m reduction in depreciation and amortisation when compared to the annual charge for 2012 using the previous useful lives. Following completion of the successful placing and open offer which raised approximately £4.5m, which was completed during the year along with the new HSBC banking facilities, the Company now has increased funds available to invest in and maintain its property, plant and equipment. The Company's maintenance and repair policy is one of the key factors that determine the estimated life of plant and equipment and as a result of this change the remaining life of many assets has been extended.

As a result of the sustained level of demand and change in depreciation policy, Pure Wafer will report a pre-tax profit for the year ended 30 June 2013 significantly ahead of current market expectations.

 

Contacts:

Pure Wafer Plc www.purewafer.com

Peter Harrington, Chief Executive

Richard Howells, Chief Financial Officer +44 (0) 1792 311 200

 

WH Ireland Limited www.wh-ireland.co.uk

JN Wakefield +44 (0) 117 945 3470

Winningtons Financial PR Limited www.winningtons.co.uk

Paul Vann / Tom Cooper +44 (0)20 3176 4722 or 07768 807 631

paul.vann@winningtons.co.uk

 

Notes to Editors:

Global market demand for semi-conductors is rising and with it the demand for "test wafers". Semi-conductor/silicon chips are manufactured on silicon wafers in highly advanced, specialist fabrication facilities. Such facilities, which require huge capital investment, use large quantities of "test" wafers for the purpose of testing, maintenance and calibration of semi-conductor manufacturing equipment. Wafer reclaim is an essential and highly specialised industrial process enabling the multiple re-use of these silicon test wafers.

Pure Wafer plc is one of the world's leading providers of these wafer reclaim services. They enable semi-conductor manufacturers to gain further efficiencies through the increased re-use of silicon test wafers which are an integral part of the extremely demanding and technically advanced production process.

Pure Wafer operates from two "State-of-the-Art" manufacturing facilities, in Swansea, South Wales and Prescott, Arizona, USA and following a period of consolidation within the industry, is now the leading European and US provider of 300mm wafer reclaim services.

Pure Wafer has an established track record, technological expertise and one of the world's most advanced wafer reclaim facilities. It has a "blue-chip" customer base that includes most of the world's largest semi-conductor manufacturers and independent foundries. It has longstanding relationships with its customers and works closely with them to design and develop a service that delivers reclaimed wafers to exact specification.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTPGUMWBUPWPPW
Date   Source Headline
18th Sep 20067:01 amRNSFinal Results
13th Sep 20069:45 amRNSHolding(s) in Company
1st Aug 20067:01 amRNSNotice of Results
10th Mar 20064:25 pmRNSDirector/PDMR Shareholding
1st Mar 20067:01 amRNSInterim Results
6th Feb 20067:00 amRNSNotice of Results
4th Jan 20067:00 amRNSGrant of Options
13th Dec 20057:01 amRNSAnnual Report and Accounts
9th Dec 20053:46 pmRNSHolding(s) in Company
7th Dec 20051:50 pmRNSHolding(s) in Company
2nd Dec 200510:18 amRNSGrant of Options
29th Nov 20053:23 pmRNSHolding(s) in Company
15th Nov 20057:02 amRNSAGM Statement
4th Oct 20057:00 amRNSHolding(s) in Company
28th Sep 20057:02 amRNSFinal Results
14th Sep 20053:53 pmRNSNotice of Results
18th Aug 20057:00 amRNSAppointment of New FD
19th Jul 20055:11 pmRNSHolding(s) in Company
24th Jun 20052:58 pmRNSHolding(s) in Company
23rd Jun 20057:00 amRNSPlacing
22nd Jun 20057:01 amRNSTrading Update
25th May 20057:02 amRNSDirectorate Change
29th Apr 200511:56 amRNSDirector Shareholding
22nd Apr 200512:19 pmRNSDirector Shareholding
7th Mar 20059:52 amRNSHolding(s) in Company
23rd Feb 20057:01 amRNSInterim Results
7th Jan 20054:36 pmRNSHolding(s) in Company

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