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Soitec latest to bemoan the dollar exchange rate |
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May 09, 2007 at 10:44 AM |
A recurring theme of many companies' recent financial reports has been the relative weakness of the almighty dollar.
The latest comes from Soitec, which had a great quarter and stellar year (sales increased 41.5% year over year, to a record 372 million Euro; net income doubled, to 46.2 million Euro).
But the company still took a hit from the ubiquitous "unfavorable sequential exchange rate movement." Over the course of its fiscal year, the French silicon-on-insulator market leader says the dollar's weakness came in at a -4.6% against the Euro, not enough to greatly affect its bottom line and turn profit into loss, but of considerable impact nonetheless.
I'd be interested to see someone come up with an overall accounting of what the weak dollar has meant to the financials of the semiconductor manufacturing community and its micro/nano cousin industries. For some companies, this economic reality has put them on the razor's edge between staying in the black or slipping into the red.
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