News in brief: Skyworks, ATMI and AXT
ATMI revenues up by a quarter
Conneticut-based ATMI says it anticipates that final-quarter revenues for 2003 will be approximately $73 million, up more than 25% on the prior quarter.
As a result, the company expects to record an operating profit for the period. It will also record a non-cash tax benefit of $3 million thanks to a favourable US Tax Court claim.
ATMI’s chief executive officer Gene Banucci said: “During the quarter, the company experienced strength in all its product lines, especially those associated with advanced interconnect production.”
He added that the latest figures reflected the recovery from a shortfall in the prior quarter caused by a distributor termination for one of its key product lines.
ATMI will report its 2003 fourth-quarter and full-year results in full on February 4.
AXT sees growing markets
Substrate manufacturer AXT of Fremont, California, is expecting to record revenue of $9.1 million for its final quarter of 2003.
In a brief pre-earnings report, the company added that its primary markets, including those for wireless handsets and red and yellow LEDs, were expected to grow during 2004.
AXT also reports its final quarter and fiscal year on Feb 4.
Skyworks names Kline as new CFO
Massachusetts-based wireless chip manufacturer Skyworks Solutions has named Allan Kline as its new chief financial officer. Kline replaces Paul Vincent, who remains at the company as vice president of finance.
