The Dutch group reported a 622.3mil euros quarter, against an initial target of between 580mil euros and 620mil euros. — Reuters
AMSTERDAM: Semiconductor equipment manufacturer ASM International (Asmi) has beaten its third-quarter revenue guidance, with a strong contribution from the Chinese market.
The Dutch group reported a 622.3mil euros quarter, against an initial target of between 580mil euros and 620mil euros.
Asmi’s third-quarter revenue is up from 609.8mil euros last year and above the 601.92mil euros expected by analysts, according to LSEG data.
“Asmi delivered robust results amidst continued soft market conditions,” president and chief executive Benjamin Loh said in a statement, adding that “the timing and strength of recovery is still uncertain”.
New orders came in at 627.4mil euros, below last year’s 675.5mil euros but near the top-end of the group’s guidance for the quarter.
Fellow Dutch semiconductor equipment maker ASML Holding NV last week reported lower-than-expected orders in the third quarter and warned of flat sales in 2024.
Chinese and US restrictions on chip exports and lacklustre sales figures on mobile and PC markets have led to uncertainty in the sector.
Asmi does not expect “any material additional impact” from the latest update on restrictions announced by the United States last week.
Jefferies analysts see the company “more than compensating” any losses from the restrictions with gains from a sector-wide turn to new technology.
The Dutch group is well-positioned to benefit from growing demand for gate-all-around (GAA) transistors, which allow for finer control over the flow of current and lower energy consumption, and single-wafer atomic layer deposition (ALD), a manufacturing technique using ultra-thin layers of material.
Loh said it expects the first “meaningful” orders for GAA transistors to come in the next quarter. Taiwan’s TSMC, Intel and Samsung are among players with plans to adopt GAA and ALD technologies. — Reuters
