www.rttnews.com/Content/EarningsNews.aspx?Id=1714230&SM=1
(RTTNews) - German LED lighting equipment firm Aixtron SE (AIXG: News ), Thursday, cut its revenue and operating margin guidance for 2011, stating that increased short-term global market uncertainty is shifting revenues into 2012.
The company currently expects 2011 revenue in a range of 600 million to 650 million euros, down from the prior guidance range of 800 million - 900 million euros.
EBIT margin performance for the year is now expected to be around 25-30 percent, compared to the prior forecast of around 35 percent.
Further, the company has reviewed its existing equipment order backlog and has decided to reduce the previously published order backlog of 373.5 million euros by 100 million euros.
"This new guidance and backlog adjustment reflects the perceived increase in conversion risk, purchase order delays and deferred system delivery requests into 2012 by several customers, specifically in Asia," the company noted. The purchase delays are triggered by Asian customers' cautiousness about investing, given the pace of economic recovery, and evident margin pressures from rapidly dropping prices for LEDs.
ignorance is bliss