French Soitec confirms H1 FY 2011/12 target after AMD's warning
Sep 30, 2011 - French silicon-on-insulator wafers maker Soitec (EPA:SOI) reiterated today its sales growth target for the first half of fiscal 2011/12, in a bid to reassure investors after a profit warning issued by its major customer Advanced Micro Devices (AMD) (NYSE:AMD).
Soitec confirmed that sales in the first half of 2011/12, ending March, will rise by 20% at constant exchange rates, in line with its forecasts.
The company will release its revenue figures for the second quarter of the fiscal year on October 17.
AMD said on Wednesday it had lowered its revenue growth and gross profit margin targets for the third quarter of 2011 due to a supplier's production problems.
The difficulties faced by AMD will not affect its orders to Soitec, according to analysts.
At 1326 CET, Soitec' shares had gained 0.92% to EUR 4.08 on Euronext Paris.