PICOGIGA INCREASED TURNOVER BY 84% IN 2000: Euros 20.4 million
Source: Picogiga
Villejust, France. Turnover for the fourth quarter 2000 reached a new record: euros 6.6 million, an increase of 27% compared to the third quarter, the previous record. This represents an 86% increase compared to the same quarter last year. These figures do not include Picopolish and Modulight recently acquired and are, therefore, achieved within the same parameters.
For the whole year, the turnover reached a record of euros 20.4 million, an increase of 84% compared to 1999.
This quarter shows several significant evolutions:
- firstly, sales to Europe and Asia increase quicker than those to the USA, and reach 50% of the total, - secondly, the wireless local loops markets increase considerably more rapidly than those of handsets. Moreover, Picogiga is beginning to enter the wireless through fibre optics, another very strong growth sector, - finally, new products, metamorphic HEMT and HBT for which success is confirmed by customers due to their better performance than competitors material. They already represent 6.5% of the turnover during the fourth quarter 2000.
Backlog at the end of December 2000 remains at a record of Euros 8 million.
To face the sustained demand from customers for HBT, all the new production tools put into service this year will be dedicated to this new product for which Picogiga holds a unique know-how. New patents are under registration. These new production tools will allow us to reach a turnover more important with HBT products than HEMT turnover.
Chairman Linh Nuyen says: " Year 2000 first pointed out a strong increase in turnover, higher than the average of the semiconductor industry in which Picogiga is expanding. Our strong technological leadership allows us to address both markets requiring performances such as defence or wireless local loops and those with high volumes and cheaper products such as handsets. The diversification of the final markets is the best guarantee for a long-term growth.
In year 2000, we have once again demonstrated our ability of technological innovation by finalizing new products such as metamorphic HEMT and HBT. For this last product, let us recall that in spite of numerous efforts made by laboratories in universities and industries worldwide, only Picogiga has succeeded in producing InGaP carbon-doped HBT using MBE, a technology more efficient than MOCVD. This privileged situation allows Picogiga to anticipate a strong growth for the coming years, by gaining market shares.
In addition, a better geographical breakdown is an important factor of stability. Particularly, our turnover growth, stronger in Europe and Asia, should increase in the future thus reducing our dependency towards USA and the US currency.
Our strategy of external growth began in 2000. All the available facts that we presently know confirm that Picopolish and Modulight bring strong synergies to Picogiga.
We look to year 2001 in the best conditions. As in the last two years, we should experience a continuous acceleration in our growth with an activity level widely increased during the second half year after all our customers have qualified our new products. The growth rate we intend to achieve will continue to be higher than that of the compound semiconductor field in general, which is, itself, significantly higher than that of silicon".
