By James Clark - email
LUBBOCK, TX (KCBD) - A major Lubbock employer says it's on its way to making a profit by year's end. Xfab says it has $239.3 million in sales for the first three quarters of the year, which is a year-over-year increase of 66 percent.
The company is reporting a loss of $12.8 million from January through September, which Xfab says is a $32.3 million improvement over 2009.
"At year's end, we will achieve our target of increasing sales by 50 percent compared with 2009, and will report a net profit." says Chris Förster, CFO of the X-FAB Silicon Foundries Group. "Our goal for 2011 is to record double-digit sales growth."
Xfab is located in what used to be the Texas Instruments facility. The company makes "mixed signal" computer chips which process a combination of digital and analog information.
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