[High-tech LED News] LED upstream material sapphire substrate supplier Rubicon Technology, Inc. announced Q3 (July-September) earnings, revenue increased 64% to 33.6 million US dollars; gross margin of 48%, diluted earnings per share Up to $0.35.
Rubicon said that the company originally expected sapphire product demand to recover at the end of Q3, but now it seems that the LED market will be weak until the end of Q4. Although the stock level of Rubicon customers is lower, there is still excess inventory in the entire supply chain, which makes the order visibility of 2-4 inch sapphire core materials affected. Therefore, Rubicon expects prices of these products to continue to fall this season. In addition, the continued weakness of the LED market has also affected the sales and price of 6-inch polishing wafers.
Rubicon predicts that Q4 operations will be more difficult. It is estimated that Q4 revenue will be reduced by 31.5-40.5% to 20 million to 23 million US dollars; diluted earnings per share is expected to fall to 0.07-0.10 US dollars.
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