Soitec Q1 sales fall 12 pct, keeps guidance
PARIS, July 21 (Reuters) - Soitec's (SOIT.PA) first-quarter sales fell 12 percent, hit by the weak dollar and lower demand but it kept its full-year guidance, the French silicon group said on Monday.
Soitec, which supplies silicon-on-insulator wafers to companies such IBM (IBM.N), generated 60.2 million euros ($95.65 million) in the three months to June 30, down from 68.5 million euros last year.
At constant exchange rates, wafer sales were down 1.7 percent compared with the same period last year.
Soitec said it was maintaining a forecast for flat sales at constant exchange rates for the current 2008-2009 fiscal year as new products launches could lead to a rebound in demand.
For its second quarter, Soitec said it expected sales similar to those in the first quarter at constant exchange rates.
The company said it also aimed to improve operational performance.
The stock has lost 52 percent since the beginning of the year as the company weathered tough trading and adverse sentiment towards technology stocks. They closed up 2.47 percent at 4.15 euros on Monday. (Reporting by Gilbert Kreijger; editing by Sue Thomas)
