German equipment solution provider AIXTRON announced the financial results for the third quarter and the first nine month of 2019. The company reported an on-year revenue increase of 2% to EUR 184.6 billion for 3Q19 and an operating result of EUR 24.5 million (US$ 27.16 million) that grew by 18%YoY.

AIXTRON said that the order situation slightly recovered compared to the previous quarter. Sales were lower than in the previous quarters partly due to longer than expected processes to grant export licenses. Nevertheless, sales for the first nine months of 2019 increased slightly year-on-year. An increase in both order intake and sales is expected for the fourth quarter of the year.

The company released the new silicon carbide production system with fully automation in September 2019 and has received orders from the industry. AIXTRON’s Gen2 OLED system is also operated in a pilot production line at its customer's plant jointly by engineers from the customer and its subsidiary APEVA in a pilot production line.

Dr. Bernd Schulte, President of AIXTRON, said, "Overall, business development up to September 30, 2019, was in line with our expectations, even though the prolonged review of export licensing had an impact on Q3 results. However, the increased order intake in the third quarter makes us optimistic that we will achieve our targets for the current fiscal year. The further reduction in costs as well as the still advantageous USD/EUR exchange rate are helping us to achieve our targets".

AIXTRON is optimistic with the markets in optoelectronics and power electronics and seeing itself at an advantageous position for both laser and special LED applications as well as in power electronics.