July 22 (Reuters) - French semiconductor materials

supplier Soitec reported a 16% drop at constant

exchange rates in its first-quarter sales, due to high

customers' inventory and a weak automotive market.

The company posted quarterly revenue of 92 million

euros($108 million), down from 121 million euros a year earlier,

but in line with analysts' average forecast of 93 million euros,

according to a company-provided poll.

($1 = 0.8519 euros)

(Reporting by Ozan Ergenay in Gdansk; Editing by Emelia

Sithole-Matariseu)