Soitec's sales drop 28.3% in Q1 FY 2013/14

Jul 26, 2013 - French semiconductor maker Soitec (EPA:SOI), which operates in the solar power sector as well, reported yesterday consolidated sales of EUR 43.2 million (USD 57.3m) for the first quarter of fiscal 2013/14 ending March, down 28.3% year-on-year.
As previously expected, Soitec's electronic business recorded a 40% drop in sales compared with the fourth quarter of the previous fiscal year.
The solar energy division reported a revenue of EUR 300,000 as it continues to carry out projects from its pipeline.
Soitec's solar division will continue to ramp deliveries for the Touwsrivier project in South Africa on time so that the company may achieve 50% completion of the project before the end of 2013, Soitec added in a statement.
As part of the Soitec 2015 programme, focused on addressing market evolutions, the group studies the option to regroup its global solar manufacturing operations at the San Diego facility. In this way, it may improve the cost-base structure of the Solar Energy Division.
(EUR 1.0 = USD 1.328)

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