News in brief: AXT, GCS, Micro-Metric, Opto Speed
AXT has issued a revised forecast for its financial results for the December quarter of 2002. Losses will be slightly less than previously expected, although revenues have been revised significantly downward.
Total revenue is projected to be $11.8 to $12.2 million compared with the company s earlier guidance of $13.5 to $14.2 million. Optoelectronics revenue is projected to be $3.5 to $3.7 million while substrate revenue, including the sale of raw materials, is projected to be $8.3 to $8.5 million compared with a prior forecast of $10.0 to $10.5 million, due to continued price reductions and less order volume than forecast.
The company also projects a net loss for the fourth quarter of 2002, exclusive of a potential impairment charge for its investment in Finisar and a loss on disposal charge for the proposed sale of a portion of the company s real estate assets, will be $7.2 to $7.4 million or $0.32 to $0.33 per share, compared with its previous guidance of a loss of $0.34 to $0.36 per share.
Global Communication Semiconductors receives ISO 9001-2000 certification
Global Communications Semiconductor, Inc. (GCS), a pure-play compound semiconductor wafer foundry, has received ISO 9001-2000 certification from DNV (Det Norske Veritas Certification, Inc.), a third party registrar.
"GCS has been continuously ISO 9002 certified for over 3 years and has never had any major non-conformities, remarked Dr. Sam Lee, CEO of GCS. "It takes a concerted effort from every department at every level to maintain the quality and discipline required to satisfy and pass biannual ISO audits. I am especially proud that our team was able to accomplish the transition to the new ISO 9001-2000 standard on our first attempt."
Micro-Metric and Opto Speed add Asian distributors
Micro-Metric, Inc., which produces high-accuracy non-contact measuring and assembly systems, has announced an alliance with TCP & Associates of Fremont, CA for sales representation in Taiwan, China, and Southeast Asia, including Malaysia, Indonesia, Thailand, and Singapore.
Opto Speed, a manufacturer of InP-based optoelectronic components, has signed a distribution agreement with Unistand Technology Co., Inc. to sell and support Opto Speed s suite of products in the Taiwan market.
New Chairman for Vitesse
Vitesse announced that Pierre Lamond has retired from the Board of Directors after having served as Chairman since the founding of the company in 1987. He will be replaced by Jack Lewis, a member of the Vitesse board since 1990 and former CEO of Amdahl Corporation, a supplier of large, general purpose computers, storage systems, software products and consulting services.
