* FY outlook remains unchanged
* Q1 revenue at $184 mln
April 27 AZ Electronic Materials, a
maker of chemicals for memory chips and Apple Inc's
iPad displays, said revenue fell 4 percent for the first quarter
as lower demand for electronic materials continued throughout
The company, which makes specialty chemicals used to make
flat screens for smartphones, tablets, PCs and TVs, said revenue
fell to $184 million.
Revenue from its IC materials unit, which makes materials
that go into micro chips, fell 4 percent to $127.9 million.
The FTSE 250 company said several of its customers were
increasing wafer capacity and utilisation, which would have a
positive impact on the second quarter and beyond.
AZ Electronic said its expectations for the full year
remained unchanged and it expected to grow quarter-on-quarter
throughout the year assuming no adverse change in demand for
"We are seeing good growth forecasts for things like iPads
with 30 percent, 40 percent compound annual growth for the next
four years," Chief Executive Geoff Wild said.
Revenue from its optronics division, which supplies
light-sensitive processing materials used in flat panel
displays, fell 1 percent to $51.7 million.
Shares of the company closed at 317.8 pence on Thursday on
the London Stock Exchange.