LONDON Silicon foundry specialist X-Fab Semiconductor AG (Erfurt, Germany) reported sales of Euros 89.7 million ($110.2 million) for the six months ended June 2006, up 16 percent on the corresponding period last year.
Operating profits at the former VEB Mikroelektronik more than doubled compared to the same period last year to Euros 11.0 million Euro. Net profits increased by 25 percent to Euros 9.3 million Euros, from Euro 7.4 million.
Book-to-bill-ratio at the foundry, which also has facilities in Plymouth, England and Lubbock, Texas, was 1.10 for the first half of 2006.
Looking ahead, the company said it expects continued positive development for the second half of the fiscal year.
X-Fab said the agreements signed in March 2006 for the acquisition of struggling Malaysian foundry 1st Silicon Sdn. Bhd are expected to become legally effective "in the near future."
The extended X-FAB corporation plans to consolidate its financial statements as of the fourth quarter of this year.