Rubicon Announces Financials and 6-in LED Wafer Agreement
Aug 10, 2010 Rubicon Technology, Inc. a provider of sapphire substrates and products to the LED, RFIC, Semiconductor, and Optical industries, reported financial results for its second quarter ended June 30, 2010 and announced the signing of an agreement with a key LED customer for the supply of six inch polished substrates.
Second Quarter Results and Third Quarter Outlook
Second Quarter 2010 Financial Highlights:
•Revenue rose to $15.8 million, up 37 percent sequentially
•Gross margin increased to 46 percent, up from 36 percent in the previous quarter
•Diluted earnings per share of $0.18 as compared to $0.07 in the first quarter 2010
•Capacity expansion plans on schedule and on budget
Six Inch Supply Agreement
The Company also reported that it entered into an agreement with a major LED chip manufacturer which calls for Rubicon to provide six inch polished substrates from November 2010 through December 2011. The total value of the contract is approximately $71 million.
Author: BIO T&T
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