BRIEF: ASMPT first-quarter revenue jumps, forecasts more growth
Semiconductor equipment maker ASMPT Ltd. (0522.HK) on Tuesday said its first-quarter revenue reached HK$3.97 billion ($508 million), up 32% year-on-year and 0.2% sequentially.
The company’s new orders for the quarter hit HK$5.67 billion, up 46% quarter-on-quarter and 71.6% year-on-year, reaching a four-year high. The growth was primarily driven by strong demand for multiple products, including surface mount technology solutions, wire bonders, die bonders and photonics.
Following its decision last year to sell its ASMPT NEXX division, that unit has been classified as a discontinued operation. Adjusted profit from its continuing operations stood at HK$335 million, up 124% year-on-year.
The company forecast second-quarter sales of $540 million to $600 million, representing a 12.2% sequential increase and a 37.0% year-on-year rise at the midpoint of that range.
Shares of ASMPT opened up 2.7% at HK$152.10 on Wednesday. The stock has tripled from its 52-week low.
By Lau Chi Hang
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