NEW YORK, March 14, 2008 (PRIME NEWSWIRE) -- While the headlines carry news of a lagging U.S. economy and a sagging U.S. dollar, executives from one small-cap manufacturing company in Illinois opened the NASDAQ market yesterday and quietly celebrated the company's performance since their November 2007 initial public offering.
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Rubicon Technology, Inc. (Nasdaq:RBCN) manufactures sapphire substrates and materials that are used by their customers in manufacturing LED's, radio frequency integrated circuits and blue laser diodes. Growing demand for high-efficiency LED lighting and smaller, high-performance electronic devices has kept the suburban Chicago company increasingly busy. "Coming here to the NASDAQ for this ceremony has been exciting," said Rubicon CEO Raja Parvez after taping an interview. "Ideally, I would have had every Rubicon employee here with me, because they have made all of this possible. However, our customers, the other group of people who have made this possible, prefer we keep our production running."
When asked about the company's financial performance in light of the current economic conditions, CFO William Weissman attributed the company's success to Rubicon's crystal growth technology, efficient production, and growing market demand.
Rubicon's stock had opened at $14.00 per share in November 2007 and closed yesterday at $27.87.
About RBCN: Rubicon Technology, Inc. is an advanced electronic materials provider that is engaged in developing, manufacturing and selling monocrystalline sapphire and other crystalline products for light-emitting diodes (LEDs), radio frequency integrated circuits (RFICs), blue laser diodes, optoelectronics and other optical applications. The Company applies its proprietary crystal growth technology to produce very high-quality sapphire in a form that allows for volume production of various sizes and orientations of substrates and windows. Rubicon is a vertically-integrated manufacturer with capabilities in crystal growth, high precision core drilling, wafer slicing, surface lapping, large-diameter polishing and wafer cleaning processes which the Company employs to convert the bulk crystal into products with the quality and precision specified by its customers. The company is actively developing larger diameter products to support next-generation LED, RFIC and optical window applications. Website: www.rubicon-es2.com
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