Sales were down 3 percent year-on-year but the net profit more than doubled. The sales dip was partially due to backlog and limits on production capacity that the company is addressing with expansion in France and Malaysia
For the full year X-Fab had revenue of $581.7 million, up 13 percent year-on-year and made a net profit of $89.8 million, up 95 percent year-on-year.
X-Fab said it expects revenue of between $138 million and $144 million in 1Q18 and for the full 2018 year to see revenue of between $615 million and $655 million.
In the fourth quarter X-Fab achieved growth in all of its key sectors; automotive, industrial and medical. X-Fab manufactures about 500 different products for automotive, about 600 for industrial and about 60 different products for medical applications.
The company said it would be in a better position to meet demand as its factory in Corbeil-Essonnes France is brought up to use more technologies (see X-Fab to swallow Altis Semiconductor). The first automotive product prototypes based on 180nm high-voltage process with embedded flash were run in 4Q18. In the fourth quarter, the first prototyping of automotive products based on X-Fab's 180nm high-voltage process with embedded flash was launched. Automotive production is planned to start towards the end of 2018 after qualification and approvals.
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