Halt in III-V Systems growth

17 Jun 2002

Shares in III-V Systems halved Thursday following warnings from the company that second half sales of its LCD technology would be weak.

President Jack Saltich forecast that second half revenue would be about the same as the first half. Revenue growth for 2000 would be by 10 to 15%.

Saltich warned of lower orders from III-V's largest customer Motorola due to lower sales of high-end mobile phones and shipment delays. He blamed the shift in the market on the rising popularity of lower-priced handsets in Europe.

III-V designs and manufactures display modules, specializing in LCD components used in mobile handsets and other wireless devices. PH