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Sondrel Reports Strong Demand for ASIC Services

1 Mins read

by Ian Walker

London-based semiconductor business, Sondrel (Holdings), has announced that demand for its application specific integrated circuit (ASIC) services remains strong, including in the U.S. The company stated that it is currently in advanced negotiations for various ASIC business opportunities. However, no further details were provided about these opportunities, as the company does not disclose customer identities.

Sondrel (Holdings) issued this statement in response to the recent surge in its share price, which reached a peak of 22 pence earlier in the session. Presently, the stock is trading 13.80 pence higher at 19.75 pence. Nevertheless, it has seen a decline of 69% over the past year.

The company did not release any specific figures for its 2023 forecast. However, it is expected to incur a pretax loss of £9.0 million ($11.4 million) for the year, compared to a loss of £6.4 million in 2022. Meanwhile, revenue for the year is anticipated to be £10.0 million, down from £17.5 million the previous year. These forecasts have been sourced from FactSet and are based on estimates by Cavendish.

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