Highlights
Q4 2000 sales more than doubled to GBP10.478m compared with same quarter last
year (Q4, 1999 : GBP5.068m) and a 63% sequential increase over Q3 2000.
Full year sales up by 58% to £30.117m (1999: GBP19.043m)
Q4 pre-tax profits (excl goodwill) at a record GBP1.597m, up sixfold compared with
same period in prior year (Q4 1999 : GBP0.266m).
Full year pre-tax profits before goodwill and exceptionals up by 168% to GBP3.203m (1999: GBP1.193m)
· Strong cash flow from operations with EBITDA in Q4 of GBP2.024m (Q4 1999:
GBP0.789m)
Continued strong demand for Group’s products
Record order intake during quarter of £12.300m, backlog at year end GBP24.4m
(1999: GBP6.34m)
Significant additional epiwafer capacity brought on line during quarter
WaferTechnology subsidiary performing well synergies already being realised.
IQE Silicon Compounds ahead of schedule, cleanrooms completed and reactors
delivered by year end
Excellent progress on new product development
Dr Drew Nelson, Executive Chairman commented As anticipated in our Q3 statement, our Q4 performance demonstrated rapidly accelerating growth with Q4 sales more than doubled compared with the same period last year and pre tax profits up sixfold. This was a direct result of increased reactor capacity coming online and continued strong demand for the Group’s products, notably in materials for optoelectronic applications. We have also made good progress with WaferTechnology, the acquisition completed in Q4, and in the launch of our new subsidiary IQE Silicon Compounds, which has generated strong customer interest. Several new products have been successfully developed and the senior management of the Group strengthened by the recruitment of key personnel . Overall, the first year of our LSE listing has been one of major achievements for IQE and with sustained demand continuing in the first quarter of 2001, we remain confident of the future.
