Aixtron see revenues cut in half since last year
During the quarter, North America accounted for 21% of revenues, Asia for 71% and Europe for 8%.
The net loss after tax was €12.7 million, compared with a net income of €10.3 million in the same period in 2002. This corresponds to a loss per share of €0.20, compared with earnings per share of €0.16 in 2002.
The half-yearly results were affected by one-time expenses and provisions, including previously announced restructuring charges in the first quarter, and impairment provisions of €9.1 million in the second quarter against inventories.
Revenues for the second quarter of 2002 were €22.3 million, down 38% compared with €36.1 million in the same period in 2002. The net loss after taxes was €8.3 million.
The company is now predicting that its revenue for 2003 will fall in the €90-95 million range, compared with €150.7 million in 2002.
Paul Hyland, Aixtron’s CEO, described ongoing trading conditions as difficult, saying “Although the current order intake situation remains muted, we are receiving encouraging forward-looking purchasing signals from customers in the LED and consumer electronics areas, amongst others."
Hyland said that orders for R&D equipment in the "difficult" telecom/datacom sector show that the industry is developing new generations of technology.
He added that Aixtron has developed a key customer relationship for its organic vapor-phase deposition (OVPD) technology in RiTdisplay, a market leader for OLED displays.
