news digest ♦ compound semiconductor ♦ financial news
over the coming years within which solar energy is likely to emerge as a key source of renewable energy. IQE’s technology provides the material for the most efficient and cost effective solar cells for power generation in the form of CPV solar cells. Industry analysts estimate that less than 0.5% of current electricity is generated by solar power but predict that this will increase to 64% in 2100. IQE is uniquely positioned as high-efficiency solar power emerges over the coming years.
Closely linked with sustainable power generation is the move towards high efficiency lighting which also uses IQE’s wafer technology. Over 20% of the world’s energy consumption is taken up by lighting. A key driver for the adoption of alternative lighting technology will be the almost universal banning of incandescent lighting technology from 2012. LED Solid State Lighting is emerging as the major technology to displace existing lighting, which dates back over a century. The market for ultra-high brightness LEDs is expected to grow from less than $2Bn in 2009 to over $4Bn by 2012.
Electronics
The ever-increasing demand for higher speed and improved performance from today’s electronic devices is ushering in a new era of semiconductor materials that combine the versatility of silicon, which has been the default semiconductor material for the last half century, with the power and performance of compound semiconductors that have emerged as true 21st century materials.
TRADING OUTLOOK
Growth in demand for IQE’s products during the first half of 2010 was largely driven by the increasing demand for wireless components used in smartphone and tablet PC technologies, which contain a significantly higher content of gallium arsenide (GaAs) products than previous generations of handheld devices.
Smartphones represent a fundamental structural shift in mobile communications and will still only account for 19% of the total handset marketplace in 2010. The Group sees the annual growth rate of 30-40% continuing for several years to come. In addition, the proliferation of wireless applications such as with smart meters and point to point
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www.compoundsemiconductor.net August/September 2010
communications will add further demand for IQE’s wireless products.
Demand for wireless products is strongly supported by accelerating growth in demand for optoelectronic devices across a range of exciting new technologies and applications, including finger navigation, short range data communications, lasers for projection, high efficiency LEDs and CPV materials for advanced solar energy generation.
Significant growth is also occurring in IQE’s silicon based product division with the adoption of new engineered substrates launched in 2009 such as Germanium on Insulator (GeOI) and Silicon on Sapphire (SOS) for next-generation integrated circuits and high speed devices.
The second half has begun well, with sales now anticipated to be ahead of expectations as a result of a strong performance across all of the Group’s product ranges. The continued successful implementation of the Group’s strategy combined with strong operational performance give the Board every confidence in both the short term and long term prospects of the business.
The group incurred losses in the 6 months to 30 June 2009 and, as such, options and warrants that may be converted were considered anti dilutive, since they would reduce the loss per share.
IQE operates six manufacturing facilities located in Cardiff (two) and Milton Keynes in the UK; in Bethlehem, Pennsylvania and Somerset, New Jersey in the USA; and Singapore. The Group also has a dedicated R&D facility in Bath, UK and operates 11 sales offices located in major economic centers worldwide.
Veeco To Present At Upcoming Investor Events in September
One of the main providers of LED epi-wafer manufacturing equipment, who has very recently sold off its metrology sector to Bruker, will present in New York and California between 7 and 15 Sep 2010.
Veeco Instruments has announced that it will be presenting at the following Investor Related events:
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