IQE: 1H Results Far Ahead Of Market Views On Wireless Demand

15th Jul 2010 09:25

LONDON (Dow Jones)--Semiconductor wafer company IQE PLC (IQE.LN) Thursday said it expects its first-half results to be significantly ahead of market expectations due to stronger than expected sales of wireless products and increasing demand for optoelectronic and silicon-based wafers. The company said it is confident of strong demand for its products in the second half of 2010. Analysts expect IQE to post 2010 pretax profit of GBP4.6 million on revenue of GBP61.8 million, according to a FactSet poll of four. In trading update for the six months to June 30, IQE, whose products are used in radio frequency devices, transistors and other advanced electronic components, said it benefited from particularly strong demand for smart phones. It said it also made higher than expected sales in the normally weak first quarter with demand accelerating into the second quarter and looking robust for the rest of the year. -By Rachael Gormley, Dow Jones Newswires; 44-20-7842-9308; [email protected] (END) Dow Jones Newswires July 15, 2010 04:25 ET (08:25 GMT)