Aixtron 2008 Revenue Up 28%
AACHEN, Germany, March 12, 2009 – Higher sales of compound semiconductor equipment led to a 28 percent increase in 2008 revenue over the previous year, Aixtron AG reported today. The increase was driven primarily by rising demand for LED end-market applications.
For fiscal 2008, which ended Dec. 31, Aixtron, a provider of deposition equipment to the semiconductor industry, said its sales revenue totaled €274.4 million (about $352 million). While revenue for the fourth quarter was high at €82.3 million ($105.5 million), Aixtron said order intake for the quarter was lower at €40.6 million, an amount the company said is in line with management expectations and guidance. Order backlog for 2009 stands at €105 million.
Because of the global economic crisis, Aixtron said many of its customers are not able to forecast beyond one month ahead and have become more reluctant to make longer-term purchasing commitments. That lack of visibility impairs Aixtron’s ability to give comprehensive guidance and EBIT (earnings before interest and tax, or operating income) for 2009. The company said it expects to remain profitable at an EBIT level, which will be achieved once revenues reach €170 million for the year.
The company’s profit from ongoing operations increased by 58 percent, year over year, to €32.5 million, because of scale effects and further enhancements of internal operating efficiency, Aixtron said.
“We are confident of achieving our 2009 objective to come out of this turbulent period stronger than we went into it. I remain convinced that this crisis offers many opportunities for Aixtron if we can retain a positive and proactive attitude to the challenges ahead,” said Aixtron President and CEO Paul Hyland. “Looking into 2009, we start what will be a challenging year for all industries, with many of the key boxes ticked: We have a very strong market share position. We have a full product development pipeline. We have a good cash position, carry no debt, and our balance sheet and our operational flexibility give us the exceptional resilience needed in these circumstances.”
The company said its executive and supervisory boards will recommend a dividend of 9 cents per share at the May 20 shareholders’ meeting.
For more information, visit: www.aixtron.com