During H118 IQE experienced double-digit sales growth on a constant currency basis in each of its three primary markets, although this was partly offset by a currency headwind. The investment in multiple VCSEL qualifications and the Newport foundry depressed margins, but underpins management’s expectations of a sustained photonics ramp-up in H218 and FY19. Acknowledging the currency headwind and one-off H118 photonics costs, we revise our estimates downwards.
04 Sep 2018
IQE - Multiple VCSEL programmes entering production
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IQE - Multiple VCSEL programmes entering production
IQE plc (IQE:LON) | 26.6 -0.2 (-2.7%) | Mkt Cap: 256.3m
- Published:
04 Sep 2018 -
Author:
Anne Margaret Crow -
Pages:
7
During H118 IQE experienced double-digit sales growth on a constant currency basis in each of its three primary markets, although this was partly offset by a currency headwind. The investment in multiple VCSEL qualifications and the Newport foundry depressed margins, but underpins management’s expectations of a sustained photonics ramp-up in H218 and FY19. Acknowledging the currency headwind and one-off H118 photonics costs, we revise our estimates downwards.