BERNIN, France, July 15, 2002 (PRIMEZONE) -- Soitec, the world's leading supplier of SOI (Silicon On Insulator) wafers, today announced consolidated sales of 27.9 million euros for the first quarter of the fiscal year 2002/2003, a growth of 63% over the first quarter 2001/2002. Excluding the currency effect from fluctuations in the euro/dollar exchange rate, sales growth was 73% during the period.
(in million Euros) First quarter First quarter % change
2002/2003 2001/2002
(April 1 to (April 1 to
June 30, 2002) June 30, 2002)
Sales 27.9 17.1 +63%
Further business growth
Continuing its development, Soitec recorded another strong sales performance during the first quarter of the fiscal year 2002/2003, based on demand from customers who are in the qualification and production stages.
During the period, there were no significant changes in the breakdown of sales by wafer size or by geographical region. 200mm wafers, the standard diameter used for the production of the most advanced applications, again generated the significant majority of sales. Demand for deliveries of 300mm wafers continued to be driven by key customers ramping up their 300mm fabs.
Recognition in the marketplace
During the first quarter of 2002/2003, Soitec received a special award from Motorola SPS (Semiconductor Products Sector) in recognition of its quality and reliability as a supplier of SOI wafers. Motorola SPS recognized Soitec for its outstanding support of Motorola's successful 1GHz embedded microprocessor launch with Soitec's UNIBOND(r) SOI material.
This acknowledgment by a top-ranking player in the semiconductor industry provides further evidence of Soitec's pre-eminent market position and of its ability to establish its technology as a market standard.
Outlook
Although the overall semiconductor market remains under pressure, market fundamentals for SOI continue to be highly positive, confirming the trends observed during 2001/2002.
Soitec therefore confirms initial expectations for its overall sales activity for the full financial year 2002/2003.
Specifically, the Group anticipates full year sales growth of over 50% excluding the impact of currency movements. With regard to foreign currencies, Soitec's operating margin is structurally hedged against movements in the US dollar. Although the Group invoices almost all its sales in US dollars, more than 65% of its cost base is also denominated in US dollars.
In addition, Soitec confirms that the construction of the Bernin II fab has been completed on schedule. Equipment has already been installed in the clean room for the production of 300mm wafers, with initial deliveries due to take place before the end of 2002.
Reporting calendar
The 2nd quarter sales for 2002/2003 will be announced on 21 October 2002 after the Paris Stock Exchange closes.
The Group's half-year results will be announced on 5 November 2002 after the market closes.
About Soitec
Soitec is the world's leading manufacturer and supplier of SOI wafers for the semiconductor industry based on Smart Cut(r) technology. Soitec produces the most extensive range of fine layer advanced materials for microelectronics, which features its UNIBOND(r) products.
Soitec shares are listed on the Nouveau Marche of Euronext Paris (Sicovam code 7206). Soitec warrants and OCEANE bonds are also traded on the Nouveau Marche of Euronext Paris.
Additional information can be found on the website: www.soitec.com