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Photonics demand drives progress at IQE

Photonics demand drives progress at IQE

The short-sellers that dammed IQE’s (IQE) joint ventures in the UK and Singapore as vehicles for hiding start-up losses, will no doubt be relieved to see that sales from those partnerships have fallen to contribute just 1 per cent of total revenue. In 2017, licence revenues fell 72 per cent to £1.9m as upfront fees diminished. But as licence income has a 100 per cent margin, its decline damaged gross margins. This issue, together with an increase in product investment and negative foreign exchange movements, sent operating profit down 14 per cent to £17m.

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