luminus devices ceo considering 2012 ipo
Investors, add financial details)
New York, February 18 (Reuters)-
Ma, manufacturer of Luminus Devices Inccalled “big-
The company\'s chief executive said in an interview on Friday that the chip led is considering listing in 2012 and the decision will be finalized later this year.
\"2012 IPO is definitely a consideration for us in the medium term.
2011 we will see if the plan is still possible, \"said Keith Ward, president and CEO of Luminus Devices.
Ward predicts that the company will grow at about 70% in 2011 and will break even.
Luminus Devices, based in Billerica, Massachusetts, has about 135 employees with a market value of less than $50 million, while Luminus customers earn an average of $0. 5 billion, Ward said.
Luminus Devices sees themselves as the only so in the world-
LEDs, known as \"big chips\", are 10 to 20 times larger than industry standards and therefore produce more powerful direct lighting than a single traditional LED chip.
They are used, among other things, for stage lighting, projection display, building lighting, and tactical flashlights.
After this went against
Crisis caused by soaring stock prices market turmoil
Theodore O\'Neal said he is working to optimize the chip \"real estate\" and achieve similar results, providing more light for every spot of LED components, alternative energy analyst Deutch Securities in New York.
This makes Luminas
In Ward\'s words, \"Young small companies \"--
In the fierce competition with listed giants such as Corey (CREE. O)
Philips Lumileds (PHG. AS)and Siemens’ (SIEGn. DE)Osram unit.
Like many LED players, Luminus Devices has 50 technical patents, and another 100 are in the process of applying, which has more than half of its business in Asia and may further expand to the market.
Ward said three of the company
The annual strategic plan includes consideration of acquisitions, construction of manufacturing facilities, joint ventures or partnerships with local governments to expand into the world\'s largest LED market.
\"We recognize the market size and cost impact of having a manufacturing footprint in Asia and are currently under review,\" he said . \".
Although Ward did not disclose any financial information, he said Luminus Devices exceeded the $24 revenue target of 2010.
8 million \"quite significant\" because last year became the \"best year\" since the company was founded \".
Earlier last year, media reported that Luminus equipment estimated a loss of more than $29 million to more than $2010, but Ward said the figure was \"not far away in any area of reality \", because it does not allow Luminas to set an ambitious breakthrough --
The goal of 2011.
In last January, when the company sued its original lender, the reports came out --
Hercules Technology Growth Capital-
Said it refused the loan and blocked the bank account.
Investors at the time said that the Luminus equipment did not have enough cash flow to repay the debt.
\"We solved all the problems in January 2010. . .
They don\'t have the viability in our business, \"Ward said of Hercules on Friday.
Luminus Devices is supported by a number of venture capital companies such as CMEA Capital and Paladin capital Group. (
Report by Alina Selyukh;
Editor Bernard Orr)