January 25, 2017 / 6:27 PM / 3 years ago

Soitec Q3 revenue lifted by growing smartphone market

Jan 25 (Reuters) - French semiconductor material maker
Soitec posted a 5 percent increase in its
third-quarter sales as the company benefited from rising demand
for faster and more power-efficient mobile devices.
    Soitec refined its sales guidance for its fiscal year ending
in March 2017 and now expects revenue growth of 4 percent,
compared with the "low single digits" it had signaled earlier. 
    Quarterly sales of its silicon-on-insulator (SOI) products
came in at 63.1 million euros ($67.8 million), up 5 percent at
constant exchange rates from 58.9 million euros a year earlier,
the company said on Wednesday, driven by demand for smartphones
and tablets.
    Soitec manufactures SOIs by adding insulating layers on
existing wafers before selling them on to chipmakers such as
STMicoelectronics and GlobalFoundries.
    Sales of its core 200mm wafers, which account for three
quarters of the company's sales, rose for the third straight
quarter to 47.9 million euros, as the company was able to
increase volumes of its radio frequency and power SOI wafers.
The latter are used mostly in automotive applications. 
    Its more advanced line of 300mm wafers returned to growth
after struggling in recent quarters, the company said.

($1 = 0.9307 euros)

 (Reporting by Wout Vergauwen; Editing by Adrian Croft)
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