LONDON Analog and mixed-signal foundry group X-Fab (Erfurt, Germany) said the outlook this year for its services is "clouded by a high degree of uncertainty" as it reported sales growth during the first half of 2008, followed by a significant decrease during the second half.
Sales for the year ended December 31 were $368.1 million (Euros 250.3 million), down approximately 10 percent from the previous year.
Earnings before interest and taxes came in at $7.2 million (Euros 4.9 million), compared with$46.7 million in the previous year. Earnings before taxes for 2008 were $4.8 million (Euros 3.3 million), compared to $38.7 million in 2007.
X-Fab said it spent $24.0 million (Euros 16.3 million) on research and development in 2008, almost the same as the previous year.
Hans-Jürgen Straub, CEO of the X-Fab Silicon Foundries Group, commented that market analysts are forecasting a double-digit decrease in sales revenue for the current year.
"However, with an equity ratio amounting to more than 65 percent, X-Fab offers the necessary financial stability to be a reliable partner in difficult times, and also to pursue opportunities this crisis offers," said Straub.
X-Fab has wafer production facilities in Erfurt and Dresden (Germany), Plymouth (England), Lubbock, Texas and Kuching, Sarawak (Malaysia).
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