Wafer supplier Soitec withdraws mid-term, year-ahead guidance; changes CFO

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French semiconductor materials supplier Soitec on Tuesday withdrew forecast targets for its new fiscal year and the medium term, following a multi-year slump in automotive and industrial chip demand.

“Given the current reduced visibility and market uncertainties, the group withdraws any guidance, whether related to all or part of its activities”, it said in a statement, adding it will only guide on a quarterly basis.

It expects first-quarter revenue to fall 20% year-on-year at constant exchange rates, against the €121 million ($137.1 million) it…



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Wafer supplier Soitec withdraws mid-term, year-ahead guidance; changes CFO


French semiconductor materials supplier Soitec on Tuesday withdrew forecast targets for its new fiscal year and the medium term, following a multi-year slump in automotive and industrial chip demand.

“Given the current reduced visibility and market uncertainties, the group withdraws any guidance, whether related to all or part of its activities”, it said in a statement, adding it will only guide on a quarterly basis.

It expects first-quarter revenue to fall 20% year-on-year at constant exchange rates, against the €121 million ($137.1 million) it…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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