IQE Public Limited Company announced the launch of gallium nitride-based, high electron mobility transistor (GaN HEMT) epitaxial wafers on 150mm diameter semi-insulating silicon carbide (SiC) substrates, supplied by the WBG Materials subsidiary of II-VI Inc. a global provider of engineering materials and optoelectronic components. GaN power amplifiers offer superior power capability, efficiency, bandwidth and linearity compared with silicon (Si) or gallium arsenide (GaAs)-based technologies commonly used, providing significant benefits in terms of both higher performance and lower overall system costs. GaN-based low-noise amplifiers exhibit improved robustness, noise figure and dynamic range when compared to incumbent solutions. In addition, GaN-based transistors can operate at high temperatures, thus reducing system cost, size and weight. As a result, GaN transistors are now established as a leading new technology for a wide range of defense applications. Introduction of 150mm GaN HEMT epi wafer products also enables cost reduction, production capacity and yield improvement, as well as potential for insertion into a wider range of chip fabrication facilities. To date, commercial market penetration of GaN HEMTs has been limited by the higher cost of epitaxial material grown on 100mm SiC substrates.

IQE Public Limited Company announced the launch of a new division, 'IQE Infrared', which will provide its customers with a complete 'one stop shop' for infrared substrate and epitaxial wafer materials covering short to very long wavelength (SWIR to VLWIR) regimes. The move is part of an overall rebranding exercise to enable the Group to enhance its customers' experiences in its key markets. The new IQE Infrared division will bring together similar product groups from across IQE's multiple operations to provide a unique focus on infrared detector materials based on gallium and indium antimonide (GaSb and InSb) and indium phosphide (InP). Dr. Mark J. Furlong, currently General Manager of IQE's substrate divisions, will head the new division which will offer products from across the IQE Group of companies.

IQE Public Limited Company reported unaudited consolidated earnings results for the second half and full year ended December 31, 2012. For the second half, the company reported revenue of £53.7 million, operating profit before exceptional profit of £7.2 million, operating profit of £6.8 million, profit before tax of £6.2 million and profit attributable to equity shareholders of £6.5 million or 1.08 pence per diluted share against revenue of £37.0 million, operating profit before exceptional profit of £4.4 million, operating profit of £4.4 million, profit before tax of £4.1 million and profit attributable to equity shareholders of £5.3 million or 0.96 pence per diluted share for the same period a year ago. For the full year, the company reported revenue of £87.961 million, operating profit before exceptional profit of £7.6 million, operating profit of £7.0 million, profit before tax of £6.1 million and profit attributable to equity shareholders of £6.6 million or 1.10 pence per diluted share against revenue of £75.3 million, operating profit before exceptional profit of £7.4 million, operating profit of £7.4 million, profit before tax of £6.9 million and profit attributable to equity shareholders of £8.4 million or 1.51 pence per diluted share for the same period a year ago. EBITDA was £16.4 million against £13.955 million for the same period a year ago. Net cash generated from operating activities was £4.8 million against £10.3 million for the same period a year ago. Capital expenditure was £11.6 million against £15.5 million for the same period a year ago. Net debt at December 31, 2012 was £15.5 million. Adjusted operating profit, before the one-off £0.6 million transaction costs, increased from £7.4 million to £7.6 million. Adjusted pre-tax profit was up 5% to £8.6 million from £8.2 million. Adjusted earnings per share were 1.59 pence against 1.86 pence for the same period a year ago.