Shares in IQE were trading down 11% at
The semiconductor company said it expects six-month revenue of around
At constant, currency sales were down around 10%.
IQE said it expects net debt to be less than
The company said that during the second quarter it had seen wireless demand begin to recover from de-stocking by customers earlier in the year. Order levels improved, and IQE said it had seen positive customer forecasts for the rest of the year.
This improvement was primarily lead by the acceleration of 4G smartphone adoption in
Its photonics business is performing well, IQE said, and it expects to see 20% revenue growth at constant currency compared to the previous year.
IQE's advanced solar business is in the final stages of qualification, it said, and on track to move to production in the second half of the year. Additionally, the development of advanced products including gallium nitride materials and compound semiconductor on silicon technologies is progressing well, it said.
Most Popular Stories
- Scholarships Offered for Hispanic Heritage Month
- Boeing Succeeds in Early Wooing of China Airline Startups
- Latin America Seeks Ways to Add Value to China Exports
- EU Finance Ministers Discuss Investment Plan
- Steve Ballmer Files Six-Figure Counterclaim vs. Steve Gordon
- IS Releases New Beheading Video
- Detroit Bankruptcy: Pivotal Progress in Trial's Second Week
- Will Apple's Digital Wallet Conquer the Card Swipe?
- Apple Reportedly Spent $100MM for Free U2 Album from iTunes
- Olive Garden's Breadsticks Targeted by Activist Investor