IQE Plc Announces Results For Tthe First Half of 2019

Revenues for the first half 2019 were down 9% year over year to £66.7 million due to a weaker smartphone handset market. Adjusted operating loss of £1.9 million reflected negative operating leverage and was also due to an increase in depreciation and amortization expenses to £2.4 million, resulting from investment in capacity.

Cash generated from operations was £4 million compared to £7.6 million in the year-ago period.

The company has a £30 million asset financing credit line in place, putting the total available facilities to around £57 million.

On 3rd September 2019, at the time of writing, GMT 10:36 AM, IQE shares were quoted at GBX 50.65, down 1.20 points or 2.31% over the previous day closing price.