Aixtron Q1 loss in-line as demand picks up
FRANKFURT, April 29
FRANKFURT, April 29 (Reuters) - Germany's Aixtron said the market for chip-making equipment was improving as it reported a first-quarter operating loss that was broadly in line with estimates.
The company said on Tuesday its loss before interest and tax (EBIT) for the three months through March narrowed to 10.9 million euros ($15.09 million), compared with consensus for an 11.6 million euro loss in a Reuters poll. Poll:
It had reported an EBIT loss of 76.3 million euros in the year-earlier period.
Aixtron aims to return to profit and wrestle back leadership of the global market for LED chip-making equipment from U.S. rival Veeco Instruments, but weak demand caused a slump in orders across the industry last year.
The group said in February it expects 2014 revenue to remain flat compared to 2013's 182.9 million euros, while its operating result will improve but remain in the red. ($1 = 0.7223 Euros) (Reporting by Maria Sheahan; Editing by Edward Taylor)