Bloomberg News

Soitec Plunges Most in Nine Months on Loss Forecast: Paris Mover

July 17, 2012

Soitec (SOI), the French semiconductor materials maker, tumbled the most in almost nine months in Paris, after saying it expects an operating loss for the first half.

The shares fell as much as 18 percent, the biggest intraday drop since Oct. 18, and were 42 cents lower at 2.30 euros as of 9:10 a.m.

After the close of trading yesterday, Soitec said its first-quarter sales were down 27 percent to 60.3 million euros, and that the company expects to post an operating loss of about 60 million euros in its fiscal half year ending September.

To contact the editor responsible for this story: Vidya Root at vroot@bloomberg.net


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