Aixtron first-quarter beats consensus, sees positive EBITDA in H2

FRANKFURT (Reuters) - Germany's Aixtron on Tuesday reported a smaller than expected operating loss thanks to more of its customers, makers of light emitting diodes (LED), ordering its tools after holding back for months, while cost cuts started to pay off.

Aixtron said its first quarter loss before interest and tax (EBIT) shrank to 8.8 million euros (6.28 million pounds) from a 10.9 million loss a year ago.

That was above the average expectation of a 10.6 million euro loss in a Reuters poll, with individual estimates of six analysts ranging between a 19 million euro loss and a 6.2 million euro loss.

Aixtron said in a statement it still expects 2015 revenues to rise to between 220 million euros and 250 million euros, from 194 million euros in 2014.

Aixtron said it expects to return to positive earnings before interest, tax, depreciation and amortisation (EBITDA) in the second half of this year.

Aixtron makes metal organic chemical vapour deposition or MOCVD tools, which are key for the production of red, blue, green and white LEDs.

The company said its customers were still cautious but that sentiment was improving.

Aixtron shares are indicated to open 3.6 percent higher according to pre-market data from brokerage Lang & Schwarz at 0555 GMT. The German blue chip index is seen opening 0.3 percent lower.

The shares have lost about a third of their value so far this year, hovering around six-year lows. They are underperforming the STOXX Europe 600 Technology index, which has gained almost a fifth.

(Reporting by Harro ten Wolde; Editing by Victoria Bryan)