news digest ♦ compound semiconductor ♦ financial news
September 30, 2010, the Company expects consolidated revenue to be in the range of $54 to $56 million with increases in both the Photovoltaics and Fiber Optics segments.
TSMC To Invest $319.6 million Into LEDs & Solar Cells
The firm will put forward $101.6 million for a LED production line and $218 million to construct a fab for the production of thin-film solar photovoltaic modules.
Following its July 2010 financial release, Taiwanese firm TSMC held a meeting of the Board of Directors, which passed a number of resolutions.
They approved capital appropriations of US $319.6 million to develop new businesses, including US$ 101.6 million for a LED production line and US$218 million to construct a fab for the production of thin- film solar photovoltaic modules.
TSMC’s net sales for July 2010, on an unconsolidated basis, were approximately NT$36.16 billion, an increase of 3 % over June 2010 and an increase of 19.4 % over July 2009. Revenues for January through July 2010 totaled NT$226.97 billion, an increase of 62.3 % compared to the same period in 2009.
On a consolidated basis, net sales for July 2010 were approximately NT$ 37.22 billion, an increase of 2.4 % over June 2010 and an increase of 19.4 % over July 2009. Revenues for January through July 2010 totaled NT$234.37 billion, an increase of 61.8 % compared to the same period in 2009.
Canaccord Genuity Downgrades Veeco from Buy to Hold
The firm has valuation concerns around cycle peak and has lowered PT from $58 to $39.
According to
streetinsider.com, a Canaccord analyst says, “We are downgrading VECO shares as we project a cyclical digestion period and pause in earnings power in the coming years following the current capacity build-out for LCD TV backlighting... We are modeling 347 MOCVD shipments in 2011, going down to 130 in 2012. As such our revenues
190
www.compoundsemiconductor.net August/September 2010
go from $1,047.4M in 2011 to $602.1M in 2012 with EPS of $3.87 to $1.30, respectively.”
Veeco Instruments designs, manufactures, markets and services enabling solutions for customers in the high brightness light emitting diode (HB LED), solar, data storage, scientific research, semiconductor and industrial markets.
Cree Annual Revenue increased 53% to $867 Million
GAAP net income for the fourth quarter increased 445% year-over-year to $52.8 million and annual net income increased 402% to $152 million.
Cree, a market leader in LED lighting, announced record revenues of $264.6 million for its fourth quarter of fiscal 2010, ended June 27, 2010. This represents a 79% increase compared to revenue of $148.1 million reported for the fourth fiscal quarter last year and a 13% increase compared to the third quarter of fiscal 2010. GAAP net income for the fourth quarter increased 445% year-over-year to $52.8 million, or $0.48 per diluted share, compared to GAAP net income of $9.7 million, or $0.11 per diluted share, for the fourth quarter of fiscal 2009.
For fiscal year 2010, Cree reported revenue of $867.3 million, which represents a 53% increase compared to revenue of $567.3 million for fiscal 2009. GAAP net income increased 402% to $152.3 million, or $1.45 per diluted share, compared to $30.3 million, or $0.34 per diluted share for fiscal 2009.
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