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Semiconductor wafer products and materials maker IQE reported that performance in the first half of 2021 was in line with management expectations.
Revenue for the first half of the year was expected to be about £79 million, consistent with previously issued guidance at a constant currency equivalent of £87 million, down from £89.9 million last year.
Adjusted earnings before interest, taxes, depreciation and amortisation, or EBITDA, is expected to be consistent with previously issued guidance at a constant currency equivalent of £16 million, up from £16.4 million last year.
The in line results performance for the half was supported by 'continued strong growth in wireless products for 5G handsets and WiFi 6 routers offsetting a year-on-year reduction in Wireless products for 5G infrastructure,' the company said.