\n\u201cThese strategic investments evidence our commitment to our customers to co-create emerging technologies and help ensure we are in position to deliver long-term value to our shareholders,\u201d said Thomas Sonderman, president and CEO of SkyWater. \u201cWe believe our investment in GaN technologies \u2013 which expand possibilities for next generation microelectronics \u2013 enhances SkyWater\u2019s position for leadership in the aerospace and defense, industrial and automotive markets. As recently noted in the White House 100 Day Supply Chain Review, there is a significant need for a U.S.-based foundry to offer technology services for GaN. We firmly believe SkyWater is that foundry.\u201d\n<\/p>\n
\nIn connection with its upcoming earnings webcast on August 4, 2021, the company also today announced selected preliminary financial results for the second quarter ended July 4, 2021.\n<\/p>\n
\nFor the second quarter ended July 4, 2021, the company expects to report net sales of $41.0 to $41.5 million, a net loss attributable to shareholders of $8.0 to $7.0 million, and Adjusted EBITDA of $(1.5) to $(0.5) million. Preliminary net sales, excluding tool sales, grew between 18% to 20% compared to first quarter 2021. Total preliminary net sales increased between 33% to 35% compared to second quarter 2020.\n<\/p>\n
\n\u201cSkyWater accomplished much in the second quarter, including our initial public offering. This achievement is a great testament to our team members, customers and partners. In the midst of this, we were able to deliver significant sales growth,\u201d said Steve Manko, SkyWater CFO.\n<\/p>\n
\nDuring the second quarter, SkyWater\u2019s other accomplishments include:\n<\/p>\n
- \n
- \nSuccessfully transitioned multiple customers from Advanced Technology Services to Wafer Services as part of its industry leading Technology as a Service\u2120 business model, reinforcing the company\u2019s ability to achieve long-term financial goals.\n<\/li>\n
- \nLaunched the first multi-project wafer shuttle for its 90 nm rad-hard program<\/a> and announced a strategic partnership with CAES<\/a> to support the development of the design ecosystem necessary to enable market access to SkyWater\u2019s leading-edge RH90 technology platform.\n<\/li>\n
- \nContinued to win new ATS business in the biomedical market.\n<\/li>\n
- \nRamped Minnesota fab to support the IoT and automotive segments of the business.\n<\/li>\n
- \nContinued start-up of the company\u2019s new Florida advanced packaging fab.\n<\/li>\n
- \nFinalized customer qualifications to scale power MOSFET technologies in the second half of the year.\n<\/li>\n<\/ul>\n
\nInvestments in advanced packaging and RH90 are anticipated to be significant long-term growth drivers for the company but are a near-term headwind to profitability.\n<\/p>\n
\n\u201cI am very pleased with our ATS pipeline growth as the industry\u2019s awareness of SkyWater\u2019s TaaS\u2120 offering continues to build,\u201d said Sonderman. \u201cThere is strong demand in the semiconductor market for a U.S. investor-owned pure play foundry with unique manufacturing capabilities. We believe our strengthening fundamentals and TaaS\u2120 business model provide a solid foundation for long-term performance in our targeted end markets.\u201d\n<\/p>\n
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