July 22, 2014 / 6:40 AM / 3 years ago

Semiconductor materials maker IQE H1 revenue falls about 17 pct

July 22 (Reuters) - British semiconductor materials maker IQE Plc said its revenue slid about 17 percent in the first-half of the year, hurt by destocking by customers due to softness in the handset market and a strong pound.

The company, whose products are used in microchips found in smartphones, tablets and GPS equipment, said revenue fell to about 52 million pounds ($88 million) in the six months ended June 30, from 63 million pounds a year earlier.

Earnings before interest, taxes, depreciation and amortization rose about 5 percent to 11 million pounds, the company said in a trading update on Tuesday.

IQE, which gets over 80 percent of its revenue from the United States, said it was on track to achieve its full-year forecasts. ($1 = 0.5856 British Pounds) (Reporting by Noor Zainab Hussain in Bangalore; Editing by Ted Kerr)

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