LONDON Ė French semiconductor materials supplier Soitec SA, has reported a net loss of 209.5 million euro (about $270 million) on consolidated sales of 262.9 million euro (about $340 million), in its audited financial results for the year to March 31, 2013.
Soitec (Bernin, France) is the primary supplier of semiconductor-on-insulator (SOI) wafers for use in the fully-depleted SOI (FDSOI) manufacturing process that is being pioneered by STMicroelectronics NV (Geneva, Switzerland) at theCrolles wafer fab near Grenoble, France.
Soitec's net loss for 2012-2013 was 79.7 percent of sales and nearly four times larger than the net loss in the previous financial year. At the same time the consolidated sales declined by 18.7 percent compared with the previous year, which Soitec ascribed to declines in PC and related sales. Soitec reported cash resources of 130.1 million euro (about $168 million) at the end of March 2013 compared with cash resources of 259.8 million euro (about $336 million) at the end of March 2012.
The net loss included financial expenses and non-cash impairment charges, nonetheless the operating loss for the year was 123.0 million euro (about $160 million) compared with 45.9 million euro (about $60 million) in the previous year. Soitec said this was due to a significant decrease in demand for 300-mm diameter wafers, low asset utilization and continued investments in R&D.
Operating cash flow for the full year was negative 38.7 million euro (about $50 million) although was reduced to negative 1.3 million euro (about $1.7 million) in the second half of the financial year, Soitec reported.
When Soitec announced its unaudited results for the financial year in April 2013 the company indicated the outlook for sales in the coming financial year would remain soft. This is mainly due to cannibalization of PC-related markets by smartphones and tablet computers.
Related links and articles:
Europe launches $12 billion chip support campaign
Europe backs FDSOI fabs
Intel moves forward with European 450-mm project
Soitec boosts production of silicon-on-sapphire wafers
MEMC introduces SOI wafers for FinFET over oxide